gold

Forex Market Review (Asian Session) – Dollar stronger on hawkish Yellen but eyes on tax plans; kiwi weak ahead of RBNZ meeting

Posted on September 27, 2017 at 8:00 am GMT

Fed Chair Janet Yellen, held a hawkish stance on the Fed’s rate path on Tuesday, boosting the dollar to a fresh one-month high against a basket of major currencies. On Wednesday, dollar sentiment is expected to be positive as markets anticipate the Congress to welcome Republicans’ tax plans after Senate Republicans failed again to replace Obamacare. Meanwhile, the focus will be also on the policy meeting held by the Reserve Bank of New Zealand (RBNZ) later today. The dollar index stood tall at a fresh one-month [..]

Stock Market News (European Open) – Monetary policy, geopolitics on equity traders’ focus; Stoxx 600 up in morning trading

Posted on September 26, 2017 at 9:53 am GMT

North Korea yesterday accused the US of declaring war on the country, giving it the right for countermeasures, including shooting down US war jets even if they’re flying outside its air space. This is not the first time that such a statement (i.e. the US declaring war on North Korea) has been made by Pyongyang, though given what preceded this time round it may carry more weight than in the past. Rhetoric between the US and North Korea getting heated [..]

Forex Market Review (Asian Session) – Safe havens gain ground as Pyongyang threatens to shoot down US jets; oil hits fresh highs

Posted on September 26, 2017 at 8:08 am GMT

Geopolitical uncertainties became dangerous late on Monday giving a boost to safe havens during Tuesday’s Asian session. The North Korean Foreign Minister Ri Yong Ho used a stronger language against the US, saying that Trump’s recent comments were a declaration of war on the Korean peninsula and the regime has the right to shoot down US bombers even if they fly outside the regime’s airspace. A few hours later the White House spokeswoman Sarah Sanders denied that the US has declared war on North Korea, while the National Security Adviser H.R McMaster argued [..]

Technical Analysis – Gold pauses downtrend but bearish picture remains intact in short and medium-term

Posted on September 25, 2017 at 8:30 am GMT

Gold has been in a downtrend after reversing from the 1357.47 high on September 8. The market became overbought at this more than 1-year high, both on the 4-hour and daily charts. RSI rose above 70 in both time frames. Focusing on the 4-hour chart, gold is entering a consolidation phase with prices capped at a key resistance of 1300. The technicals are painting a bearish picture, suggesting that risk is to the downside. The 20 and 50-period moving averages [..]

Forex Market Review (European Session) – Dollar under pressure after Trump’s tweet on N. Korea; pound weaker despite May rejecting options of leaving EU earlier

Posted on September 22, 2017 at 3:54 pm GMT

The latest war of words between Trump and the North Korean leader Kim Jong Un kept markets nervous during the European session, with the dollar being unable to restore Wednesday’s gains when the FOMC statement signaled the start of the balance sheet reduction in October and more strongly put on the table an additional rate hike later in the year. However, the Brexit speech by the UK Prime Minister Theresa May was in the spotlight during the European session with the pound sinking during [..]

Forex Market Review (Asian Session) – Dollar tumbles on rising US – North Korea tensions; pound flat ahead of May’s Brexit speech

Posted on September 22, 2017 at 8:06 am GMT

The risk-off sentiment reemerged on Friday in Asia, as the North Korean leader Kim Jong Un delivered another threatening message to the US following Trump’s warning at his debut speech at the UN General Assembly on Monday. The dollar lost ground against a basket of major currencies, paring gains made after the Fed’s decision to start unwinding its balance sheet on Wednesday. Meanwhile, the pound remained steady ahead of the widely expected speech by the British Prime Minister on Brexit later today. Investors were in a risk-averse mode during the [..]

Forex Market Review (European Session) – Markets digest Fed message as dollar corrects; aussie drops on Chinese downgrade

Posted on September 21, 2017 at 2:47 pm GMT

The US dollar gave back some of its gains versus its major counterparts such as the euro, the yen and the British pound after the Fed signaled the previous day it was planning to raise interest rates one more time this year. The Fed also announced that in October it would start to slowly roll back some of the stimulus it injected in the form of Quantitative Easing; the first major central bank to do so since the financial crisis [..]

Stock Market News (European Open) – European indices on the rise as financials gain on Fed

Posted on September 21, 2017 at 10:04 am GMT

In Japan, the Nikkei 225 continued rising for the fourth straight day, this time adding 0.2%, while the Topix, the country’s broader equity gauge rose by 0.05%, giving up earlier gains. Αt its highest the Topix was up by a bit more than 0.7%, reaching its best level since August 2015. Hong Kong’s Hang Seng finished the day marginally higher and the Shanghai Composite fell by 0.2%. Australia’s S&P/ASX 200 lost a significant 0.9%. The Federal Reserve and the Bank of Japan completed their meetings [..]

Forex Market Review (European Session) – Dollar stays weak on prospect of dovish Fed later

Posted on September 20, 2017 at 2:43 pm GMT

The US dollar remained weak ahead of the Federal Reserve’s announcement and the Fed Chair’s press conference later in the session. Traders seemed to be bracing for an on balance dovish message from the Fed, even though the market still expected a rate hike at the end of the year to be more likely than not. There was virtual unanimity that the Fed would not increase rates today but rather only announce the starting date for the gradual reduction of [..]

Forex Market Review (European Session) – Dollar retreats ahead of Fed announcement tomorrow

Posted on September 19, 2017 at 2:54 pm GMT

The US dollar posted modest losses during today’s session as traders were fixated on tomorrow’s announcement by the Federal Reserve. The dollar made its highs towards the end of today’s Asian session, but lost ground after that. Dollar/yen, in particular, saw significant profit-taking after the substantial gains of the previous days. From 111.83 the pair fell to as low as 111.23, rebounding to 111.40. Euro/dollar also peaked above 1.20 earlier in the day but was not far from that level [..]

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