FOREXYARD: Forex News Blog

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Bullion Outlook This Week Posted: 16 Apr 2012 07:48 AM PDT Overall this year, the Bullion market has failed to impress with gold and silver showing more losses then gains over the previous few months. Last week saw the two metals start off well but changed direction towards the end of the week as the U.S dollar gained momentum. Even though there is a positive correlation between gold and silver, the latter has declined more frequently and on a weekly scale. The fresh concerns over the future of the Euro-zone and a possibility that the U.S Labor market could be slowing down, were tow major factors that pushed metal prices up in the beginning of last week. In regards to the U.S economy, there are a number of key financial reports due for release this week that could have an impact on the greenback, and consequently, gold and silver.Reports such as Philly Fed, Housing Starts ,Existing home sales and Initial jobless claims are scheduled for this week. If the reports release positive results, its possible that the dollar will strengthen and push the metals in the opposite direction. Reports in Europe are also due for release this week including staements from the European Central Bank, German ZEW economic sentiment report and German Business Climate Survey expected on Friday.Positive data from the Euro-zone could push bullion prices up, especially if Germany continue to show signs of growth.

Euro Weakens Ahead of Spanish Bond Auctions Posted: 15 Apr 2012 08:13 PM PDT During the Asian trading session, the 17-nation currency weakened against its major currency rivals prior to tomorrows expected auctioning of Spanish Bonds. Just before 10am Tokyo time, the Euro slipped 0.5 percent to $1,3017 versus the U.S dollar after falling to a month-low of $1,3013, a market rate last seen Mid-March. The single currency also lost ground with the Japanese Yen and the British Pound.The Euro dropped 0.4 percent versus the Yen to hit the 105.38, after previously falling to 105.29, the lowest rate since February 21. Versus the Sterling, the Euro also dropped 0.4 percent to 82.21, its lowest since September 2010. Following the Spanish Bond Auction tomorrow, European Central Bank President Mario Draghi will make a speech.Draghi’s speech could possibly create a short term trend for the Euro.

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