Gold trades marginally lower, awaiting trade talk cues

By Ritu, Capital Sands   Gold traded marginally lower on Tuesday morning in Asia, hovering around the $1,468 range as the U.S. and China are still in talks for ‘deal or no deal.’ Gold Futures contracts traded at $1,467.95 by 10:00 PM ET (03:00 GMT), down 0.09%. Talks of a possible “phase one” deal between the …

Oil jumps on Chinese factory growth, hopes for deeper OPEC cuts

OPEC looks to cut production as virus outbreak hits demand

By Ritu, Capital Sands   Oil prices rose more than 1% on Monday as signs of rising manufacturing activity in China pointed to increasing fuel demand and hints that OPEC may deepen output cuts at its meeting this week indicated supply may tighten next year. Brent crude futures rose 74 cents, or 1.2%, to $61.23 a …

USD/CHF Technical Analysis: Sellers focused on spinning top near multi-week high

By Ritu,   Capital Sands USD/CHF declines after registering a bearish candlestick formation the previous day. Buyers look for sustained trading beyond 1.0000 psychological magnet. 200-day SMA can please sellers during further downside. USD/CHF drops to 0.9985 during the early trading session on Friday. That said, the pair formed a bearish “Spinning Top” candlestick formation while taking …

Yen gains, Yuan falls as Hong Kong tensions muddy trade progress

By Ritu, Capital Sands   The safe-haven yen rose against the dollar after U.S. President Donald Trump signed into law support for anti-government protesters in Hong Kong, which could complicate efforts to end the U.S.-China trade war. That caused the yuan to fall in offshore trade on mounting worries that months of often violent protest …

Asian shares climb on Trump trade deal comments

By Ritu, Capital Sands   Asian shares rose on Wednesday as upbeat signals from Sino-U.S. trade talks fanned hopes of an easing of tariff hostilities, while expectations the Federal Reserve will keep interest rates low supported sentiment. The positive mood pushed Wall Street indexes to fresh record closing highs on Tuesday and stoked confidence in …

REFILE-FOREX-Dollar hits 1-week high on yen as U.S.-China trade deal hopes rise

By Ritu, Capital Sands.   The dollar held an upper hand against the yen on Tuesday as optimism on a trade deal between the United States and China dented the allure of the safe-haven unit while the British pound was supported by hopes of an end to a hung parliament. China’s Global Times, a tabloid …

Asia shares regain footing as mood swings on trade

By Ritu Capital Sands Asian shares made guarded gains on Monday as investors dared to hope for some progress in the endless Sino-U.S. trade dispute, while the out performance of recent U.S. economic data gave the dollar a leg up on its peers. MSCI’s broadest index of Asia-Pacific shares outside Japan bounced 0.8%, after losing …

Dollar slips as Chinese comments marginally boost risk appetite

By Ritu, https://capitalsands.com/ The dollar was marginally down on Friday and risk appetite boosted by statements from China on the need to find a solution to the tit-for-tat tariff war with the United States, raising hopes that a “phase one” deal could be reached. Chinese President Xi Jinping said Beijing wants to work out a …

Oil falls from 2-month high as U.S.-China trade doubts dominate

By Ritu, Capital Sands   Oil prices were toppled from their highest in nearly two months on Friday by doubts over future demand for crude as uncertainty continues to shroud a potential U.S.-China trade deal, and along with it the health of the global economy. That was more than enough to offset news of a …