Gold Rose While Crude And Major Pairs Consolidated After Yellen’s Remark

The yellow saw its refuge appeal boosted and accordingly its prices climbing while that crude along with major pairs consolidated after that the new Federal Reserve Chief; Jannet Yellen, stated publicly that the U.S. labor market needs more work to be restored to full health, and also pledged to maintain her predecessor’s policies to ensure the recovery to full employment and stable prices.

In fact Yellen said the unemployment rate alone isn’t an adequate gauge of labor-market health .

“Those out of a job for more than six months continue to make up an unusually large fraction of the unemployed, and the number of people who are working part time but would prefer a full-time job remains very high,” she said.

“These observations underscore the importance of considering more than the unemployment rate when evaluating the condition of the U.S. labor market.”

As a result the black gold is currently trading around $99.98 a barrel recording a high of $100.48 a barrel and a low of $99.58 a barrel while that the gold is trading so far around $1290.95 an ounce recording a high of $1293.95 an ounce and a low of $1273.80 an ounce.

On the other hand the euro is presently narrow trading on the four and one-hour charts as a result of the current technical movements sending in fact the EUR/USD pair to trade up around $1.3647 while recording the highest level of $1.3683 and lowest level of $1.3629, knowing that the pair may incline but slightly as mixed signs are seen throughout the four-hour and one-hour momentum indicators.

As for the British pound, it is also consolidating on these correctional movements driving the GBP/USD pair to trade around $1.6458 while recording the highest level of $1.6487 and lowest of $1.6392 and is most probably going to remain at consolidated levels as mixed signs; buying and selling, are also witnessed at several time scale within the stochastic oscialltor.

Finally, as a result of mixed signs witnessed throughout the momentum indicators at different time charts the USD/JPY pair is consolidating around ¥102.64 while recording the highest level of ¥102.70 and lowest levels of ¥102.08.