gold

Forex Market Review (Asian Session) – Euro finds support on news of greater EU integration; dollar ticks down

Posted on September 13, 2017 at 7:47 am GMT

Currencies were trading quietly during the Asian session ahead of a busy calendar on Wednesday, with markets reacting little to the latest North Korean threats. The dollar weakened slightly with investors expecting inflation data to be released later today, while the euro ticked up after news stated that the President of the European Commission Jean-Claude Junker will call for more EU integration in his speech at the European Parliament later today. The dollar index was trading 0.08% down in Asia at [..]

Forex Market Review (European Session) – Pound soars to 1-year high after inflation beat; dollar also up, euro under pressure

Posted on September 12, 2017 at 3:01 pm GMT

The British pound surged to a one-year high in European trading on Tuesday as traders bet on a more hawkish Bank of England following stronger-than-expected UK inflation data. The US dollar extended yesterday’s impressive gains against the yen but the euro struggled. The New Zealand dollar was another major gainer, while gold reversed its earlier losses following fresh threats from North Korea. The main data in today’s European session was the August inflation release out of the UK. Headline inflation [..]

Stock Market News (US Open) –Europe broadly in the green, except UK; Wall Street gains; eyes on Apple’s iPhone

Posted on September 12, 2017 at 2:17 pm GMT

Barring the FTSE 100, all other major European indices remained in the green as trading progressed. The pan-European Stoxx 600 was last up by 0.6%, trading not far below the one-month high that was posted earlier today and looking poised to record its fifth consecutive daily rise. The FTSE 100 was last trading by a bit less than 0.3% lower on the day, while the DAX and the CAC 40 were up by 0.6% and 0.8% respectively. The UK’s blue-chip [..]

Forex Market Review (Asian Session) – Dollar builds on gains as risk sentiment rises; pound vs euro hits 1-month high

Posted on September 12, 2017 at 7:57 am GMT

The dollar maintained its strength against its rivals during the Asian trading hours as experts downgraded the impact of Hurricane Irma, while the UN Security Council approved a lighter package of sanctions on North Korea. Meanwhile, the British government won the vote on the EU withdrawal bill, lifting the pound to a one-month high versus the euro. With the economic calendar lacking significant releases, the greenback continued its uptrend in Asia as, for the moment, investors ruled out extreme weather in the US and fresh tensions in the Korean peninsula. [..]

Forex Market Review (European Session) – Euro pulls back as ECB’s Coeure questions inflation path; pound holds onto gains ahead of a busy week

Posted on September 11, 2017 at 2:46 pm GMT

While investors were looking for riskier purchases after North Korea confounded rumors of an intercontinental ballistic missile test on Saturday, the euro retreated following the dovish remarks made by ECB member, Benoit Coeure, in Frankfurt. Meanwhile, the pound drifted higher during the European trading ahead of a busy data week and before the BOE policy meeting on Thursday. The dollar continued gaining against its rivals in Europe as geopolitical risks eased on Monday. However, investors were focused on the outcome [..]

Stock Market News (European Open) – Global equities rally; UN Security Council to vote on N. Korea

Posted on September 11, 2017 at 9:54 am GMT

Stock markets are on a positive footing in today’s trading with hefty gains being posted by major indices around the world. North Korea did not proceed with a missile launch, as reports had suggested, when the country celebrated its founding day on Saturday, while Hurricane Irma, despite having quite a negative impact on the US, it still wasn’t as devastating when it hit the country over the weekend as was initially feared. Both these developments are spurring traders’ appetite for [..]

Technical Analysis – Gold holds bullish structure but shifts to neutral phase as uptrend stalls

Posted on September 11, 2017 at 8:04 am GMT

Gold peaked at 1357.47 last Friday before retreating. Short-term momentum, as measured by RSI, reached overbought levels above 70 last week, with gold subsequently slipping below 1340 support today. On the 4-hour chart, RSI has dipped below 50. While this is a bearish signal, the possibility of further upside in gold cannot be ruled out yet. The stochastic fell from 80 to below 20, indicating the market is oversold now. A consolidation phase for gold is expected in the near [..]

Forex Market Review (Asian Session) – Dollar gets back on feet as risk-off sentiment eases; oil jumps on potential extension of supply cut

Posted on September 11, 2017 at 7:48 am GMT

On Monday, investors had a bit more appetite for risk in Asia, giving some support to the dollar, as North Korea celebrated the anniversary of its founding without any additional missile tests. In energy markets, oil prices showed some recovery after ministers from Saudi Arabia, Venezuela and Kazakhstan discussed the potential of extending the period of supply cuts ahead of the OPEC meeting in November. The US was in a state of emergency during the weekend as thunderstorm Irma passed [..]

Forex Market Review (European Session) – Sterling breaks 1.32 ahead of BOE meeting; yen extends gains as North Korean risks linger

Posted on September 8, 2017 at 3:14 pm GMT

The dollar continued to trade weak during the European session with most of its peers hovering near fresh highs they reached in the Asian session. The pound and the yen extended their earlier gains, with the former hitting above the 1.32 key level against the greenback, while the latter reached the price of 107 per dollar for the first time since November 2016. With Hurricane Irma heading towards Florida, after it devastated the Caribbean islands and while other two hurricanes have been observed moving in the [..]

Forex Market Review (Asian Session) – Dollar falls to 32-month low; rivals hit fresh highs

Posted on September 8, 2017 at 7:45 am GMT

It was another difficult session for the US dollar as numerous factors including political issues, disappointing economic numbers, and dangerous natural phenomena weighed heavily on the currency driving it to a 32-month low. Consequently, the dollar’s weakness boosted other majors and helped them reach new highs. The dollar fell to low levels not seen since the beginning of 2015 during the Asian trading hours, as the country is preparing to welcome another powerful Hurricane named Irma in Florida, hopes for another rate hike soon are fading [..]

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