gold

Stock Market News (European Open) – North Korean missile launch sets risk-off mood

Posted on August 29, 2017 at 9:12 am GMT

Major indices in Australasia finished the day in the red today on the back of the risk-averse mood that set over the region on news that North Korea fired a missile that flew over Japan and landed in Pacific waters north-east of Japan. In particular, Hong Kong’s Hang Seng Index finished the day 0.4% down, the Australian S&P/ASX 200 0.7% down and Japan’s Nikkei 225 0.5% down after contracting by close to 1% earlier in the day to touch its [..]

Forex Market Review (Asian Session) – Dollar under pressure after North Korean missile test; euro breaks 1.20

Posted on August 29, 2017 at 7:45 am GMT

The dollar and risk assets were retreating during Tuesday’s Asian session after a new ballistic missile test by North Korea. The novel feature of the latest missile test by North Korea compared to previous tests was that it flew over the Northern Japanese island of Hokkaido before landing in the Pacific Ocean, which seems to be a first. This caused grave concern in Japan. Despite the fact that Japan was the country that the missile had overflown, the yen gained [..]

Forex Market Review (European Session) – Majors move sideways ahead of busy weekly calendar; oil down as Texas energy refineries shut down

Posted on August 28, 2017 at 3:29 pm GMT

With today’s economic calendar lacking important data, major currencies were trading sideways during European trading hours, while market watchers were weighing the damage from the life-threatening tropical storm Harvey which forced the closure of the Texas oil industry on Monday. However, in the coming days, forex markets will be on the receiving end of important data releases from major economies. The dollar struggled to recover from the 2-½-year lows it recorded against its rivals during early Asian session after the Fed Chief [..]

Technical Analysis – Gold neutral between 1280 and 1300

Posted on August 28, 2017 at 7:58 am GMT

Gold staged a strong bounce from the key 1280.00 level last Friday. Near-term upside momentum has been maintained as RSI rose above 50 into bullish territory on the 4-hour chart. Looking back since mid-August, gold has been neutral. If the top of the range at the key psychological level of 1300.00 can be broken, a clear and sustained move above this resistance would open the way to the next major high at 1337.24 (November 2016 peak). Until then, consolidation between [..]

Forex Market Review (European Session) – Yellen induces dollar’s tumble, traders await Draghi for further moves

Posted on August 25, 2017 at 2:45 pm GMT

The dollar tumbled against all majors following the speech of Federal Reserve Chair Yellen at the Jackson Hole symposium. The US currency managed to trade higher against the yen for most of the European session and got a small lift after the release of US durable goods data, but that was short-lived. The dollar index fell 0.43% to last trade at 92.89. The US dollar traded around the value of 109.57 yen for most of the day leading up to [..]

Forex Market Review (Asian Session) – Dollar gains ahead of Jackson Hole; oil up on Texas output disruption

Posted on August 25, 2017 at 7:36 am GMT

The dollar gained against the yen and the euro ahead of the central bankers’ symposium in Jackson Hole. The dollar index was up 0.11% and was trading at 93.37 as Asian traders were heading home for the week. Oil prices also rose on the possible disruption in the Gulf of Mexico, in Texas. The release of the encouraging Japanese CPI data did little to lift the yen against the dollar as the pair traded on the back of strong dollar [..]

Forex Market Review (European Session) – Dollar firmer as risk appetite improves ahead of Jackson Hole; pound perks up on euro weakness

Posted on August 24, 2017 at 3:19 pm GMT

Risk appetite improved notably on Thursday as investors shrugged off the threat of a government shutdown in the United States to focus on the three-day Jackson Hole gathering of central bankers in Wyoming, which starts today. The US dollar extended its Asian session gains to climb towards 109.50 yen, but the euro floundered ahead of an extended speech by ECB head Mario Draghi tomorrow in Jackson Hole. GDP data dominated the early European session as growth figures were released in [..]

Forex Market Review (Asian Session) – Dollar caps losses, gains against majors; kiwi tumbles to more than 2-month lows

Posted on August 24, 2017 at 7:47 am GMT

The dollar managed to recoup some of yesterday’s losses against the yen, when the US currency tumbled on the President’s remarks about a government shutdown. Other majors also weakened with the kiwi underperforming as it tumbled to more than a two-month lows against the greenback. Oil prices slipped after yesterday’s surge. During another relatively quiet trading day in Asia, the dollar managed to reverse its losses and post a moderate gain against the yen. Dollar/yen was last trading at 109.27, [..]

Forex Market Review (European Session) – Euro gains on PMI, hits fresh 10½-month high Vs sterling; dollar hurt by Trump, data misses

Posted on August 23, 2017 at 3:11 pm GMT

During today’s European session, forex market participants pushed the euro higher on the overall positive picture given by the PMI figures released earlier in the day. In the meantime, the dollar index was down with the US currency being on a negative footing in today’s trading after some comments made by the US President yesterday in Phoenix. Data releases falling short of forecasts also weighed on the US currency. Eurozone flash PMI figures for the month of August were released [..]

Forex Market Review (Asian Session) – Trump yet again induces dollar weakness against yen; other majors edge down

Posted on August 23, 2017 at 7:23 am GMT

President Trump has yet again induced weakness in the US currency with his remarks about a possible government shutdown to fulfill his campaign promises. The greenback weakened against the yen, but gained against other majors making the dollar index flat on the day. The release of flash PMI data out of the eurozone will attract some traction during early hours of European trading. Speaking at a rally in Phoenix, President Trump said “If we have to close down the government, we [..]

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