Gold Defies Quiet Trade (And Gravity) With New Highs

A summary of news and snapshot of moves from today’s Asia session.

  • Asia had a much-needed break from volatility, after the sizable moves seen since the dovish FOMC meeting. Still, the USD remained the weakest major although volatility remained relatively subdued, whilst JPY and NZD were the strongest.
  • Gold broke through $1400 to take it to fresh highs to extend yesterday’s epic rally.
  • WTI hit a new high although arguably a little stretched for the near-term and currently trades around $57.
  • Equities appear to have FOMC fatigue ahead of the weekend, mostly trading lower despite records highs on Wall Street.
  • Regulators in the US have banned airlines form flying over Iran-controlled airspace.
  • Trump has vowed to raise the case of two Canadians detained by China when he meets Xi at the G20, potentially thawing tension between Canada and China.

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