Hedge funds’ combined holdings in gold futures increased to the most bullish since January on mounting concern that conflict in the Middle East will boost crude-oil prices, slowing economic growth and stoking inflation.
Hedge funds’ combined holdings in gold futures increased to the most bullish since January on mounting concern that conflict in the Middle East will boost crude-oil prices, slowing economic growth and stoking inflation.
U.S. stocks rose, with benchmark indexes poised for the longest rally since July, as investors weighed data on the labor market and American services industry before tomorrow’s monthly jobs report.
Service industries in the U.S. expanded in August at the fastest pace in almost eight years as a pickup in demand encouraged companies to step up hiring, showing the world’s biggest economy is gaining momentum.
The SEP13 Swiss franc is the big loser in today’s FX markets, with the Franc/USD trading down 96 ticks to 105.87. As the economy heats up in Europe, China, and U.S. investors may be less likely to seek safe havens such as gold and Swiss franc.
The euro declined to a six-week low versus the dollar as European Central Bank President Mario Draghi said officials discussed an interest-rate cut at today’s policy meeting.
Growth in U.S. service industries unexpectedly accelerated in August as orders picked up, showing further progress in the world’s biggest economy.
Treasuries fell as stronger growth in American service industries dimmed prospects for Federal Reserve bond buying, while U.S. benchmark stock indexes retreated from records.
Corn futures have been beaten down over the past month, and are down again today. We are curious to see when the market will bounce from overbought conditions, but we may have a ways to go.
Service industries in the U.S. expanded in July at the fastest pace in five months, a sign the world’s biggest economy will improve after slowing the last three quarters.