gold

Forex Market Review (European Session) – Dollar recoups modestly on hopes of business spending underpinning GDP growth

Posted on July 27, 2017 at 2:44 pm GMT

The dollar somewhat rebounded during the European session with the dollar index up 0.1%. The latest data on durable goods orders, jobless claims and trade balance on goods supported the US currency to retrace some of earlier losses post the Federal Open Market Committee meeting. The euro declined against the greenback by 0.35% as the US session was about to start. Monthly orders for durable goods in the US rose 6.5% last month, expanding at more than double the expected [..]

Forex Market Review (Asian Session) – Fed’s inflation concern weakens dollar; aussie, kiwi at two-year high

Posted on July 27, 2017 at 7:47 am GMT

It was a relatively quiet data day in forex markets prompting traders to dwell over yesterday’s events, namely the Federal Open Market Committee (FOMC) meeting. As a result of the Federal Reserve’s dovish tone, the weakness in the US dollar unfolded, with the dollar index hitting a fresh 13-month low. The Australian and New Zealand dollars jumped to two-year highs as traders sold off the greenback. The Fed confirmed market anticipations of the federal funds rate remaining at the same target [..]

Technical Analysis – Gold bullish bias; hits 1½-month high

Posted on July 27, 2017 at 7:21 am GMT

Gold has been advancing in today’s trading, hitting a near one-and-a-half-month high of 1264.79. The RSI is comfortably in bullish territory at 63 and keeps heading higher, indicating that momentum in the very short-term is positive. The overall bias is also to the upside as the MACD is positive and above the red signal line. If the price continues climbing, the area around the 1270 handle, a rather congested one in the recent past, could provide resistance. Further up, the [..]

Forex Market Review (European Session) – Forex market awaits FOMC statement; pound helped by UK GDP

Posted on July 26, 2017 at 2:54 pm GMT

It was a relatively quiet day in forex markets as traders were mostly looking forward to the Fed statement later in the US session and as UK second quarter GDP figures were in line with estimates. In the day’s main economic news, the preliminary estimate of UK second quarter GDP came in line with expectations at 0.3% quarter-on-quarter and 1.7% year-on-year. This was on the one hand a slowdown from the previous quarter’s 2% year-on-year growth rate but the quarterly [..]

Forex Market Review (Asian Session) – Dollar gains ground ahead of FOMC; aussie suffers on softer inflation

Posted on July 26, 2017 at 7:43 am GMT

Inflation figures out of Australia were today’s main data release during Asian session trading. The softer than expected data led to the aussie posting losses. Beyond that, the dollar index seems to be maintaining some positive momentum following yesterday’s upbeat consumer confidence report. The dollar’s index against a basket of currencies was up 0.2% as Asian traders were about to complete their trading day. It stood above the 94 mark, but not far above 93.64, the 13-month low reached yesterday. [..]

Forex Market Review (European Session) – Pound and euro surge on rising yields; US data lifts dollar from doldrums

Posted on July 25, 2017 at 2:58 pm GMT

Risk appetite recovered in European trading on Tuesday as rising government bond yields helped financial stocks, as well as lift the euro and the pound. US treasury yields also moved higher on expectations that the Fed will soon proceed with shrinking its bond portfolio. However, the US dollar was stuck in the doldrums for much of the session as investor caution ahead of the FOMC meeting and political uncertainty weighed on the currency. The euro surged to a fresh high [..]

FX Daily Outlook | 25-07-17

Posted on July 25, 2017 at 8:51 am GMT

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Forex Market Review (Asian Session) – Dollar softens ahead of FOMC meeting; Saudi Arabia helps push oil prices up

Posted on July 25, 2017 at 7:27 am GMT

During the Asian session, forex markets didn’t have much to react to in the absence of important economic releases. Hence, yesterday’s events along with the upcoming two-day US Federal Open Market Committee meeting that starts today have been commanding most of the moves today. The US dollar weakened against most currencies as investors await the news from the two-day FOMC meeting on interest rate policy that starts later today. Many investors expect the Federal Reserve to announce that it will begin [..]

Forex Market Review (European Session) – Euro pulls back from 2-year highs on disappointing PMIs; dollar steadier; oil up on OPEC pledge

Posted on July 24, 2017 at 3:05 pm GMT

The euro retreated from fresh 23-month highs set earlier in the day as the single currency was hurt by disappointing PMI data out of the Eurozone. The US dollar came off its lows but remained near the 13-month lows reached during the Asian session, while oil reversed higher on OPEC’s latest efforts to curb supply. Eurozone PMI releases by IHS Markit dominated the European trading session on Monday as the data missed expectations on all fronts. The composite PMI for [..]

FX Daily Outlook | 24-07-17

Posted on July 24, 2017 at 9:59 am GMT