gold

Forex Market Review (Asian Session) – Dollar climbs vs yen ahead of FOMC; pound loses ground after Carney speaks on rates and Brexit

Posted on September 19, 2017 at 8:06 am GMT

On Tuesday, the dollar hit a fresh eight-week high against the yen in Asia with investors widely expecting the Fed policymakers to announce the start of monetary tightening later this year in their two-day meeting that concludes on Wednesday. Its British counterpart was in an uptrend as well following a deep fall on Monday after the BOE Governor, Mark Carney, talked down the country’s post-Brexit trade prospects and argued that rates should rise moderately, giving no clues on when the [..]

Forex Market Review (European Session) – Yen under pressure because of risk-on; pound catches breath after major up move

Posted on September 18, 2017 at 2:51 pm GMT

The yen remained under pressure during today’s trading as market participants were more optimistic on the global outlook. The pound retreated after climbing to its post-Brexit high versus the dollar due to some profit-taking. Safe haven plays such as the yen and gold remained under substantial pressure today as equity markets around the world marched on to fresh highs and concerns about a possible escalation of the North Korean situation were calmed by recent developments. A speech by US President [..]

Technical Analysis – Gold has turned increasingly bearish after retreating from 1-year highs

Posted on September 18, 2017 at 8:34 am GMT

Gold has turned increasingly bearish in the short term after the 50-period moving average fell below the 20-period MA last week. Momentum oscillators on the 4-hour chart are giving bearish signals. After rallying to a more than a 1-year high of 1357.47 on September 8, the rally lost steam as the market became overextended. This was indicated by RSI rising above 70 into overbought territory. Gold prices failed to sustain gains at these levels and consequently fell below an important [..]

Forex Market Review (Asian Session) – Safe-havens pull back as US seeks peace with N.Korea; dollar steady ahead of FOMC

Posted on September 18, 2017 at 7:58 am GMT

On Monday, safe-haven currencies were trading lower as UN leaders were preparing to kick off a meeting on Tuesday to discuss possible solutions on North Korea’s nuclear programs, with the US seeking a peaceful resolution. The dollar was hovering sideways ahead of the FOMC meeting. With the economic calendar lacking significant releases during the Asian session, the dollar index was mainly flat at 91.88 as investors were waiting for the two-day FOMC meeting ending on Wednesday. Although investors anticipate Fed policymakers to keep rates unchanged, they will be focused [..]

Forex Market Review (European Session) – Dollar extends losses; BOE Vlieghe pushes pound above $1.36

Posted on September 15, 2017 at 3:20 pm GMT

The dollar could not find support on the closely watched US retail sales figures released during the European session as the numbers came in lower than forecast, while risk-off sentiment continued weighing on the currency. Among major currencies, though, the pound was the best performer as it managed to reach post-Brexit levels after BOE’s Gertjan Vlieghe signalled that a rate hike might emerge in next months. While investors anticipated US retail sales to grow by 0.1% m/m in August, the [..]

Stock Market News (European Open) – N. Korean missile launch already priced in?

Posted on September 15, 2017 at 10:09 am GMT

North Korea today yet again launching a missile that flew over Japan and landed into the Pacific Ocean did dampen appetite for risk, though not as much as similar actions in the past. In particular, market reaction indicated that either such a move was expected – at least to a large extent – or that it was perceived as a continuation of provocation from recent weeks rather than adding to tensions. Indicative of this is the fact that perceived safe [..]

Forex Market Review (Asian Session) – Dollar posts short-lived losses after North Korea’s missile; focus on US retail sales

Posted on September 15, 2017 at 8:01 am GMT

North Korea carried a second missile test in less than a month early on Friday, lifting risk-off sentiment and pushing the dollar lower against its safe-haven counterparts. However, the currency managed to reverse its losses immediately, with investors turning their focus on US retail sales after CPI readings came in higher than expected on Thursday. During early Asian trading hours, officials from South Korea and Japan reported that North Korea fired a ballistic missile that crossed over Japan’s northern island [..]

Forex Market Review (Asian Session) – Dollar index steady above 92 key-level; sterling flat ahead of BOE decision

Posted on September 14, 2017 at 7:51 am GMT

On Thursday, the dollar index was moving sideways above the 92 key-level in Asia, as investors ignored another aggressive warning from North Korea and instead were cautious whether US inflation data released later today would change the chances of the Fed raising interest rates again this year. Meanwhile, the pound was flat at yesterday’s lows ahead of the Bank of England’s policy meeting later today. Early in Asia, the North Korean regime threatened to use its nuclear weapons to “sink” [..]

Forex Market Review (European Session) – Dollar breaks 92 level as rivals weaken; pound drops below 1.33 as wage growth disappoints

Posted on September 13, 2017 at 3:26 pm GMT

During the European trading, the focus turned back to the economic calendar and specifically to the US PPI figures and the UK labor data, leaving geopolitical issues out of the spotlight for the moment. The dollar crossed above the 92-key level as risk appetite returned and developments on the US fiscal front, such as on tax reform, seemed to give reasons to investors to buy the dollar. The dollar surged to 92.27 against its major rivals, ignoring the weaker-than-expected US [..]

Stock Market News (US Open) – European stocks partially recover losses; miners dominate FTSE underperformers; Wall Street opens lower

Posted on September 13, 2017 at 2:06 pm GMT

European equities, as gauged by the performance of major indices in the continent, have to a large extent reversed losses from earlier in the day. The Stoxx 600 was down by less than 0.1%, making up for more than three-quarters of the 0.4% decline it reached at its lowest earlier in the session. The FTSE 100, DAX and CAC 40 all moved higher with the former remaining in red territory though, being last down by 0.2%. The DAX and the [..]

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