gold

Forex Market Review (European Session) – Euro falls on fears of cooling German economy; dollar rallies across board

Posted on August 22, 2017 at 2:24 pm GMT

The dollar continued strengthening against most majors during the European session as geopolitical tensions have been out of the spotlight and the euro and sterling weakened, with the latter ignoring upbeat industrial data. Oil prices continued gaining ahead of an oil inventories report by the API. The euro lost ground and fell below the $1.1175 level following a disappointing set of data out of Germany that got investors worried over the eurozone’s largest economy. The ZEW economic sentiment index, which gauges [..]

Forex Market Review (Asian Session) – Dollar firms up in humdrum market; oil rises on tightening US supply

Posted on August 22, 2017 at 7:13 am GMT

In an uneventful trading during the Asian session due to the absence of any economic data releases, the dollar edged up. The dollar index, which measures the greenback’s value against a basket of six major currencies inched up 0.12% to last trade at 93.21. Oil prices rose amid indications that supply is tightening. Looking at reactions in the forex market, the dollar strengthened against most majors. Euro/dollar fell just below the $1.18 mark to last trade at $1.1795. The pound [..]

Forex Market Review (European Session) – Dollar under fresh pressure; euro back above $1.18 as Draghi speech eyed

Posted on August 21, 2017 at 2:53 pm GMT

Major pairs were locked in tight ranges on Monday as a light economic calendar and thin summer trading volumes, as well as caution ahead of the Jackson Hole gathering of central bankers prevented traders from placing large bets. Keynote speeches by both Fed Chair Janet Yellen and ECB President Mario Draghi later in the week kept traders wary despite there being a consensus that neither will deliver any new policy messages at the event in Wyoming, United States on August [..]

Forex Market Review (Asian Session) – Washington drama continues to weigh on markets, investors await Jackson Hole

Posted on August 21, 2017 at 7:41 am GMT

In the absence of any significant economic data releases during today’s Asian trading, the political drama surrounding President Trump continued to take central stage. The President fired his chief strategist Steve Bannon on Friday and in that way continued the string of staff shake up in the White House. The key event of this week will be the meeting of central bankers in Jackson Hole towards the end of the week. Late on Friday, markets got another news out of [..]

Technical Analysis – Gold neutral after rejection at strong 1300 resistance

Posted on August 21, 2017 at 7:31 am GMT

Gold has been in an uptrend since the July 10 low of 1204.79, with the market making higher highs and higher lows. After reaching the key psychological level at 1300.00, upside momentum faded. Following a spike to a nine-month high of 1300.77 on August 18, prices fell back as RSI reached overbought levels at 70. Looking at the 4-hour chart, the market is expected to consolidate above 1280.00 in the near term. The short- term outlook should remain bullish as [..]

Forex Market Review (European Session) – Loonie spikes on rising inflation; consumer sentiment provides some relief to weak dollar

Posted on August 18, 2017 at 2:57 pm GMT

Ahead of the US session open, a jump in the Canadian dollar was one of the biggest moves of the day following the inflation figures out today. The release of the Michigan consumer sentiment index that surprised to the upside provided an early lift to the weak dollar. However, the greenback was still down against most majors due to a heavy plunge in the prior few sessions. The dollar index fell around 0.30% to last trade at 93.36. The Canadian [..]

Stock Market News (US Open) – Stock sell-off continues on persisting risk-off sentiment

Posted on August 18, 2017 at 2:06 pm GMT

Risk-off sentiment remained evident in European stock markets during today’s trading with the continent’s major stock indices extending yesterday’s losses. Shocking news of a terrorist attack in Barcelona yesterday afternoon (local time) further dampened risk appetite after dovish-perceived remarks in both the ECB minutes released on Thursday and Fed minutes released the day before. Politics in Washington – specifically fresh doubts on US President Donald Trump’s ability to deliver – are also weighing on sentiment. In terms of the US, [..]

Forex Market Review (Asian Session) – Geopolitical issues command forex markets again in absence of economic data

Posted on August 18, 2017 at 7:30 am GMT

In the absence of any significant economic data releases during the Asian session, political turmoil out of Washington and a terrorist attack in Spain dominated the news-flow in forex markets. The dollar weakened against most major currencies, with the yen getting a relatively significant boost. Investors’ concerns over the Trump administration’s ability to realize any of the campaign-promised agenda were renewed this week. Following President Trump’s remarks on violence in Virginia, many CEO’s stepped down from business councils run by [..]

Forex Market Review (European session) – Euro slides to 3-week lows on ECB overshoot concerns; dollar weighed by Trump, Fed

Posted on August 17, 2017 at 2:27 pm GMT

The euro underperformed its peers in today’s European session as a combination of option expiries and dovish ECB meeting minutes drove the single currency to three-week lows against the US dollar. The greenback managed to reverse around half of yesterday’s losses brought on by the FOMC minutes that showed growing concern among some Fed policymakers that inflation might remain below 2% for longer than anticipated. In other currencies, the pound was unable to get much of a lift from stronger-than-expected [..]

Forex Market Review (Asian Session) – Yen gains on Fed minutes, commodity-linked aussie extends gains, oil inches up

Posted on August 17, 2017 at 7:44 am GMT

As Asian traders were heading home for the day, the yen rose and the dollar extended declines following the release of the Federal Reserve meeting minutes last night. The aussie firmed up following a rally in base-metal prices. The rest of the day looks busy with several economic data publications across Europe and the US along with the release of the European Central Bank meeting minutes. The dollar fell against the yen and other majors after the release of 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