The decline of the yellow metal continued on Wednesday. Moreover, it is most likely going to continue in the short term.
After encountering the 2015 high level the EUR/USD currency exchange rate began a retreat, which continued on during Wednesday morning hours.
The stronger-than-expected UK retail sales report failed to support the British Pound, as the gain was thought to be related to temporary warm weather effects.
The stronger-than-expected UK retail sales report failed to support the British Pound, as the gain was thought to be related to temporary warm weather effects.
The yellow metal has bounced off the monthly pivot point, which was described previously.
The EUR/USD currency pair remained near the 1.1650 mark on Tuesday morning.
Monday's Markit survey showed that the preliminary PMIs for the US manufacturing and services sectors almost matched analysts' forecasts and had little initial impact on the USD/JPY currency pair.
The stronger-than-expected UK retail sales report failed to support the British Pound, as the gain was thought to be related to temporary warm weather effects.
The stronger-than-expected UK retail sales report failed to support the British Pound, as the gain was thought to be related to temporary warm weather effects.
Monthly data on the US Building Permits contributed to the second straight day of gains in the USD/JPY currency pair.
In line with expectations, the new trading week the yellow metal started above the 1,250 mark.
The surge provoked by Mario Draghi speech stopped near the 1.1681 level.
The bullion has found support and has been propelled higher by fundamental events.
Monthly data on the US Building Permits contributed to the second straight day of gains in the USD/JPY currency pair.
The stronger-than-expected UK retail sales report failed to support the British Pound, as the gain was thought to be related to temporary warm weather effects.
The ECB press conference has caused the markets to think that the Euro is strong as a bull.
Consumer prices in the United States were flat, while retail sales dropped for the second consecutive month in June.
Britain's inflation fell unexpectedly in June from a four-year high reached in the previous month.
The decline of the yellow metal has extended, as the bullion has reached levels below the 1,240 mark.
The Euro continued to retreat against the US Dollar on Thursday morning. It seemed that the rate was at a short term cross point.
The Bullion has met with various resistance levels, which have pressured it into a decline on Wednesday morning.
Consumer prices in the United States were flat, while retail sales dropped for the second consecutive month in June.
The common European currency had slightly retreated against the US Dollar on Wednesday morning, as it encountered resistance.
Britain's inflation fell unexpectedly in June from a four-year high reached in the previous month.