gold

Daily Market Comment – Stocks trapped in ‘no man’s land’, but yen slides

Posted on May 20, 2020 at 9:15 am GMT

Equities pull back as vaccine doubts set in, still stuck in a range Yet broader FX market in a ‘risk on’ mood, yen bruised by BoJ news Bank of England speakers in focus today ahead of Fed minutes Markets look for another catalyst as vaccine rally falters The vaccine-powered euphoria that propelled stocks higher at the start of the week gave way to skepticism on Tuesday, as reports blasted the lack of data in Moderna’s vaccine study, stressing that the [..]

Daily Market Comment – Stocks and gold climb as Fed hopes overpower trade fears

Posted on May 18, 2020 at 9:23 am GMT

US equities set to open higher, gold soars after Fed chief’s ‘whatever it takes’ moment But escalating US-China tensions & second wave fears lurking in the background Pound sinks as investors brace for Brexit talks to fall apart Powell turbocharges gold, lifts stocks Global markets are in a good mood on Monday, with commodity currencies recovering and Wall Street set for a ~1.5% higher open, following a ‘whatever it takes’ moment from Fed Chairman Powell. In remarks published over the [..]

Technical Analysis – Gold unlocks new 7½-year high; positive outlook on cards

Posted on May 18, 2020 at 6:45 am GMT

Gold prices surged to a fresh seven-and-a-half-year high of 1,763.58 earlier today, shifting the outlook from neutral to bullish. The strong upside rally is confirmed by the technical indicators which are gaining momentum. The MACD recorded a bullish crossover with its trigger line in the positive area while the RSI is heading higher towards the overbought zone. Also, the short-term simple moving averages (SMAs) are continuing the price action, acting as critical supports. In case of more positive movements, the [..]

Daily Market Comment – US-China tensions simmer but markets still betting on recovery

Posted on May 15, 2020 at 8:55 am GMT

Trump threatens to “cut off” relationship with China as row over virus spread escalates But market fallout limited as hopes of recovery and more stimulus prevail Dollar headed for weekly gains, eyes US retail sales data Trump continues attack on China President Trump stepped up his fierce criticism of China as he continued to blame the country for failing to stop the spread of the coronavirus. Speaking to Fox Business Network on Thursday, Trump cast doubt on future trade links [..]

Daily Market Comment – RBNZ flags negative rates, Powell expected to do opposite

Posted on May 13, 2020 at 8:42 am GMT

Kiwi plunges after RBNZ signals negative rates are an option But Fed’s Powell unlikely to embrace negative rates in upcoming speech Warnings of second virus wave hit stocks RBNZ could be next to tiptoe into negative rates The New Zealand dollar fell about 1% on Wednesday after the Reserve Bank of New Zealand doubled its bond buying plan at its policy meeting today and gave its clearest indication yet that negative interest rates could become “an option in future”. As [..]

Daily Market Comment – Dollar and stocks crawl higher but markets on alert amid virus spike

Posted on May 11, 2020 at 8:33 am GMT

Dollar gains versus yen, stocks edge up as lockdown easing spurs bets of economic rebound But fears of second virus wave keep risk appetite in check, gold ticks higher Doubts about Trump’s commitment to US-China trade deal adds to subdued tone Safe-haven yen takes a tumble as more economies reopen The US dollar appeared to lose some of its safe-haven allure on Monday as signs of economic life in many parts of the world shifted the focus to the improving [..]

Technical Analysis – Gold preserves positive composure

Posted on May 11, 2020 at 6:57 am GMT

Gold is trading around the mid-Bollinger band at 1,707 after fading for nearly a month from the multi-year high of 1,746.95. The precious metal seems to be lacking direction as it plots lower highs and higher lows. Yet, the technical oscillators and the upward slopes in the simple moving averages (SMAs) appear to support a neutral-to-bullish picture for now. The MACD, has remained in the positive section but is below its red signal line, while the RSI continues to hover [..]

Daily Market Comment – German ultimatum sinks euro, yen capitalizes

Posted on May 6, 2020 at 10:57 am GMT

Euro crumbles after German courts challenge ECB stimulus Outlook still bleak, this is the last thing the fragile Eurozone needs Stocks trim gains on Fed gloom and Congressional ‘pause’, yen climbs Today: ADP data will give a taste of what’s on Friday’s NFP menu Euro falls apart as Germany challenges ECB The single currency came under heavy fire yesterday, after Germany’s top court ruled that the ECB’s asset purchases were unconstitutional. The judges gave the European Central Bank three months [..]

Technical Analysis – Gold struggles in symmetrical triangle; neutrality holds

Posted on May 6, 2020 at 7:15 am GMT

Gold prices are heading sideways in a symmetrical triangle formation, hovering near the short-term simple moving averages (SMAs) and within the squeezed Bollinger bands. The market could remain in consolidation if the RSI keeps moving around 50 and the MACD stays around the zero line with weak momentum in the 4-hour chart. An extension to the upside and above the descending line of the triangle, which overlaps with the upper Bollinger band could meet the 1,722 area. Further up, resistance [..]

Technical Analysis – Gold appears to be gaining confidence

Posted on May 4, 2020 at 6:45 am GMT

Gold is currently resting at the mid-Bollinger band around 1,700 while still confined between the boundaries of 1,660 and 1,739. The short-term oscillators further reflect a neutral-to-bullish bias, while the rising simple moving averages (SMAs) continue to be positively charged suggesting further advances to come. The MACD and the RSI display the pause in the market. The MACD, deep in the positive region, has dipped below its red trigger line but appears to be flattening, while the RSI, bouncing near [..]

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