gold

Forex Market Review (European session) – Sterling heads up as UK unemployment hits 42-year low; dollar reaches fresh three-week high

Posted on August 16, 2017 at 3:45 pm GMT

With North Korea and the US pulling back from their confrontation stance, the focus turned back to economic releases. The dollar followed an upward path despite weaker housing data, while better than expected labor figures in the UK pushed sterling higher. The lowered US crude inventories published during late European session lifted oil prices. The dollar index peaked at a fresh three-week high of 94.14 during the European session, ignoring today’s disappointing US data on building permits and housing starts. [..]

Forex Market Review (Asian Session) – Dollar continues gaining against yen after yesterday’s surge on upbeat retail sales

Posted on August 16, 2017 at 7:48 am GMT

The US dollar continued gaining during the Asian session following yesterday’s spike versus the yen on upbeat retail sales. Sterling was also down against the greenback during morning trading, while other majors including the euro, aussie, kiwi and the Canadian dollar managed to recoup some of the losses against the US currency. The dollar index was broadly flat at 93.84. In terms of economic data, today’s first session of the day was relatively quiet. The wage price index for the [..]

Forex Market Review (Asian Session) – Dollar steady against yen after yesterday’s surge on upbeat retail sales

Posted on August 16, 2017 at 7:42 am GMT

The US dollar held steady during the Asian session following yesterday’s spike versus the yen on upbeat retail sales. Sterling was also down against the greenback during morning trading, while other majors including the euro, aussie, kiwi and the Canadian dollar managed to recoup some of the losses against the US currency. The dollar index was broadly flat at 93.84. In terms of economic data, today’s first session of the day was relatively quiet. The wage price index for the [..]

Forex Market Review (European session) – Dollar climbs as war tensions calm; euro drifts lower after poor industrial performance

Posted on August 14, 2017 at 3:05 pm GMT

During European trading hours, the dollar managed to reverse partially from losses made on Friday, after comments by two US civil officials and the South Korean president on Monday eased war tensions between the US and North Korea. Meanwhile, the euro weakened as data out of the eurozone showed that industrial output in the area missed expectations. Following Trump’s comments on Friday, who warned that the US army was “locked and loaded” if North Korea acted unwisely, the South Korean president, Moon Jae-in, said on Monday in a meeting [..]

Technical Analysis – Gold pauses rally at 10-week high; falls to critical level at 1280

Posted on August 14, 2017 at 9:29 am GMT

Gold has paused its advance to a 10-week high of 1291.86 following a 4-day rally that led to the market becoming overextended. On the 4-hour chart, downside momentum seems to be picking up as the RSI has turned back down with a steep slope after reaching overbought territory above 70. The key psychological level of 1280.00 is an immediate support level. A break below this may pave the way for a deeper decline towards 1271.33. This is the 23.6% Fibonacci [..]

Forex Market Review (European Session) – US-North Korea dispute remains on the forefront; dollar weakens on inflation

Posted on August 11, 2017 at 2:53 pm GMT

Rising tensions between North Korea and the United States were once again the theme of the day with only the release of much-awaited inflation figures out of the US managing to divert attention away from developments on that front. Inflation numbers surprised to the downside, leading the dollar to post considerable losses relative to other major currencies within the first minutes of data release. The all-important July inflation numbers out of the US failed to satisfy dollar bulls’ hopes of [..]

Forex Market Review (European Session) – Risk-off weighs on euro; pound up after UK data; dollar mixed

Posted on August 10, 2017 at 2:52 pm GMT

Market sentiment remained largely in risk-off mood on Thursday as the latest escalation of tension between North Korea and the United States showed no sign of dissipating. North Korea said today it plans to fire four missiles near the US territory of Guam in the Pacific Ocean, branding President Trump’s warning that North Korean threats will be met with “fire and fury” as “a load of nonsense”. The heightened geopolitical anxiety continued to drive gold and the Japanese yen higher [..]

Forex Market Review (European Session) – Safe havens benefit on geopolitical uncertainty; dollar touches 3-week high

Posted on August 9, 2017 at 3:07 pm GMT

Rising tensions between North Korea and the US led traditional safe havens to post gains today. Meanwhile, the few data releases during the day failed to cause much of a reaction in currency markets. The Swiss franc, which as of recently was hitting headlines on continuing weakness, surged today on the back of safe haven demand. In particular, euro/franc fell to as low as 1.1259 after starting the day at 1.1447. It was last down 0.9% on the day. Dollar/franc [..]

Forex Market Review (Asian Session) – Safe-haven assets gain on escalating US-North Korea geopolitical turmoil

Posted on August 9, 2017 at 7:44 am GMT

Geopolitical woes between the US and North Korea escalated overnight following announcements by the presidents of both countries. In response, safe-haven assets such as the yen, Swiss franc and gold strengthened overnight. The dollar index was moderately down ahead of European trading. The escalating situation commanded the news flow during the Asian session, overshadowing other economic developments of significance for forex markets. North Korea announced that its leader Kim Jong Un was weighing a possibility to strike the US Pacific territory of Guam [..]

Forex Market Review (European Session) – Dollar touches 1½ week- high as Job openings hit a record high; oil pares gains amid ongoing oversupply

Posted on August 8, 2017 at 3:54 pm GMT

With political uncertainties in the US in the background and tensions between North- Korea and the US increasing, the dollar managed to recover from yesterday’s losses as US job vacancies reached a record-high in June and drove the currency to a 1½ week- high. Meanwhile, in the commodity markets, oil could not sustain its gains arising from Saudi Arabia’s willingness to cut its oil supplies by more than it pledged, as global oil production does not show any signs of [..]

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