gold

Forex Market Review (European Session) – Euro shines despite Draghi’s warning about FX volatility; dollar tanks

Posted on September 7, 2017 at 2:51 pm GMT

The euro rose higher on optimism that the ECB would soon taper its QE program while the dollar dropped on weak economic data and as another major hurricane is set to hit the United States. In the day’s most anticipated event, the European Central Bank refrained from changing policy although some analysts were expecting an announcement regarding the tapering of its asset purchase (QE) program. Despite the dovish outcome, euro/dollar rose sharply, rising north of 1.20 to 1.2058, just shy [..]

Forex Market Review (Asian Session) – Dollar fails to rise on higher US debt ceiling; focus on ECB

Posted on September 7, 2017 at 7:44 am GMT

After a surprise rate hike from the Bank of Canada, US Congressional leaders and the president decided unexpectedly on late Wednesday to raise the government’s debt limit. However, the dollar failed to strengthen, as geopolitical risks continued to weigh on the markets, while the Fed’s Vice Chairman surprised markets by submitting his resignation. The euro was also in focus, as investors are widely expecting the European Central Bank to kick off its policy meeting later today. On Wednesday, the US [..]

Forex Market Review (European Session) – Loonie shines as BOC raises rates; oil prices hit fresh highs ahead of API

Posted on September 6, 2017 at 3:18 pm GMT

Although the North Korean story is still in progress, spreading fears to the international community and forcing investors to give up high-yield assets and buy less risky ones, the focus during the European trading hours turned back to the economic calendar. Trade and non-manufacturing PMI data were out of the US, while Canada released trade figures prior the BOC’s surprising decision to raise rates. The loonie climbed to a fresh 2-year high versus the greenback, while oil peaked at new [..]

Forex Market Review (Asian Session) – Dollar tumbles as North Korea promises a “gift of packages”; aussie retreats on disappointing GDP growth

Posted on September 6, 2017 at 7:36 am GMT

On Wednesday, markets continued being in a risk-averse mood as a North Korean diplomat warned the day before that more is coming from his country. However, in the US the focus turned to domestic policies, as Fed policymakers are preparing for their next meeting in two weeks’ time. With geopolitical risks in the background, the dollar weakened further following the dovish comments made by the Minneapolis Fed President Neel Kashkari. Meanwhile, the aussie lost steam after the GDP growth data appeared lower than expected. Late on Tuesday, comments by a [..]

Forex Market Review (European Session) – Dollar drifts lower vs majors amid war risks; aussie, kiwi posts fresh highs

Posted on September 5, 2017 at 3:45 pm GMT

The dollar extended its losses against a basket of major currencies during the European session as US markets returned from holidays, pricing the heightened geopolitical risks as well as the dovish comments from the Fed’s Lael Brainard. While the dollar was losing ground, the aussie and its cousin the kiwi hit fresh highs after the RBA governor Philip Lowe supported that the current monetary policy is appropriate given the risks of the already overloaded household debt. Geopolitical risks continued weighing heavily on [..]

Forex Market Review (Asian Session) – Dollar consolidates; aussie retreats as RBA holds rates at record lows

Posted on September 5, 2017 at 7:53 am GMT

The dollar entered a consolidation phase in Asia as investors remained nervous about North Korea’s possible future nuclear actions, while US markets provided little direction as they were closed for the Labour Day Holiday. Meanwhile, in Australia the RBA decided to keep its monetary policy unchanged, holding cash rates at record lows, but concerns over an appreciating exchange rate pushed the aussie down. Investors preferred to put their money in safe-haven assets during the Asian trading hours and avoid riskier assets as they were worried that [..]

Forex Market Review ( European Session) – Risk-off sentiment pushes dollar down as North Korea said to launch another ballistic missile test

Posted on September 4, 2017 at 3:31 pm GMT

While markets were focused to see whether geopolitical risks would ease later on Monday after North Korea announced its successful test of a powerful weapon on Sunday, risk-off sentiment rose again instead, following rumors that North Korea was preparing for another intercontinental ballistic missile test. The dollar dipped into further losses, unable to find support as US and Canadian markets were closed for the Labor Day holiday. According to South Korea’s central news agency, the North Korean regime was speculated to be planning another intercontinental ballistic missile test into the [..]

Stock Market News (US Open) – European markets finish day in the red; US closed for Labor Day

Posted on September 4, 2017 at 1:59 pm GMT

European markets remained in negative territory on rekindled tensions in the Korean peninsula after North Korea proceeded with a nuclear test during the weekend. US markets are closed today for Labor Day on a day when futures on major Wall Street indices are recording losses. During afternoon European trading hours, the UK’s FTSE 100 and the French CAC 40 were down by 0.3%, while the German DAX was down by 0.2%. At the same time, the pan-European Stoxx 600 and [..]

Stock Market News (European Open) – North Korean nuclear test dampens risk sentiment; Europe down across the board

Posted on September 4, 2017 at 9:54 am GMT

Most indices in Asia closed the day lower after risk sentiment was dampened on the back of renewed tensions in the Korean peninsula. The catalyst for risk-off trades this time round was North Korea’s nuclear test over the weekend. The Nikkei 225 finished the day 0.9% lower with the broader Japanese index, the Topix, even further down, specifically by 1.0% with all industry sectors in the red. Hong Kong’s Hang Seng closed 0.8% lower, Australia’s S&P/ASX 200 0.4% down and [..]

Technical Analysis – Gold is bullish but has reached overbought levels

Posted on September 4, 2017 at 8:30 am GMT

Gold is bullish both in the short and medium-term and has approached its highest level since September 2016 at 1339.64. The broader undertone remains strong and there is little sign that the uptrend will change in the near term. However, the short-term momentum oscillators are indicating the market has reached overbought levels. Following a jump higher above the key 1330 level today, RSI rose above 70 and the stochastic is above 80, both indicating an overbought market. (4-hour chart) The [..]

Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. XM accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The research and analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests and to disregard any conflicts of interest in providing our services.

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losing all of your invested capital, so please make sure that you fully understand the risks involved.

How can we help?

Live Chat Terms