August 2014

GBP/USD Fluctuates amid Global Economic Reports

The GBP/USD rose in value on Aug. 28, reaching a one-week high in early trade and then later paring these gains.

GBP/USD hits 1-week high

The currency pair reached 1.6614 in European morning trade, according to Investing.com. This represented the highest value for the GBP/USD since Aug. 20. During this point in the session, market participants were anticipating the U.S. economic reports involving gross domestic product and jobless claims. Read more

USD/JPY Declines, amid Ukraine Concerns & Strong US GDP Figures

The USD/JPY declined on Aug. 28, after Russia-Ukraine conflicts escalated and the U.S. government revised the nation’s economic growth higher for the second quarter.

US Q2 GDP revised upward

The currency pair was 0.1 percent lower at 103.76 by 11:08 a.m. in New York, according to Bloomberg. These movements happened after the U.S. Commerce Department indicated that during April, May and June, U.S. gross domestic product grew at an annualized rate of 4.2 percent, compared to the 4.0 percent specified previously. Read more

Gold Prices Climbs on Ukraine Tensions

Gold futures were seen advancing on Thursday, rising for a third day during the European trading session after falling to $1,279.00 earlier in the week. Meanwhile, the tension in Ukraine continues before the release of key European and US data.

Gold for immediate delivery increased 0.5% higher to $1,289.05 an ounce, according to Bloomberg generic pricing. The yellow metal fell to $1,273.14 on August 21, the lowest since June 18. Meanwhile silver for immediate delivery gained 0.9% to $19.6318 an ounce. Read more