gold

Daily Market Comment – Dollar shrugs off Trump impeachment; aussie jumps on upbeat jobs data

Posted on December 19, 2019 at 9:03 am GMT

Dollar unfazed from US House vote to impeach Trump, edges up on higher Treasury yields Aussie and kiwi bounce higher on better-than-expected domestic data; loonie also firmer Pound steadier ahead of Bank of England decision President Trump is impeached; markets don’t care President Trump became the third president in the history of the United States on Wednesday to be impeached after the House of Representatives, as expected, approved two charges against him for abuse of power and obstruction of [..]

Technical Analysis – Gold remains capped below downtrend line

Posted on December 18, 2019 at 3:22 pm GMT

Gold prices have been trending lower in recent months, posting lower highs and lower lows below a downtrend line drawn from the highs of September. The outlook therefore looks cautiously negative, with a clear break below the 1445 zone needed to refuel the bears. Short-term oscillators paint a flat picture, suggesting that the latest consolidation phase between 1490 and 1445 could continue for now. The RSI has flattened near its neutral line, while the MACD is at zero. If the [..]

Daily Market Comment – Pound storms higher as Tories win; stocks hit new records on US-China deal

Posted on December 13, 2019 at 9:38 am GMT

Cable touches $1.35 as Conservatives win majority – but mind the risks on the horizon Yen disintegrates, stocks soar as US and China reportedly reach partial trade deal ECB provides little new; US retail sales the focus today Sterling flies as Conservatives secure big majority in Parliament The British pound exploded higher overnight, after exit polls for the UK election suggested that Boris Johnson’s Conservatives would win a strong majority in Parliament, something confirmed by the official results a few [..]

US tariff decision: Art of the deal or election playbook? – Special Report

Posted on December 12, 2019 at 5:10 pm GMT

The White House is set to announce whether it will postpone the next round of tariffs on China, with President Trump tweeting moments ago that a phase one deal is “very close”. Even if this deal isn’t reached by Sunday, when the new tariffs are set to kick in, Trump is still likely to postpone them in order to keep the negotiations going. It seems very unlikely at this stage that he would pull the trigger on the new tariffs, [..]

Daily Market Comment – Britain votes; Lagarde makes her ECB entrance

Posted on December 12, 2019 at 10:05 am GMT

UK election firmly in the spotlight as voting begins – results early on Friday ECB meets today, though any major market reaction is unlikely Fed signals no rate cuts in 2020, but Powell still talks the dollar down Brits elect their new government – lopsided risks for pound? The day of political reckoning has finally arrived for the United Kingdom. The much-anticipated general election will be held today, and the result will decide what form Brexit takes, whether there’s a [..]

Technical Analysis – Gold remains neutral as negative sentiment takes a breather

Posted on December 10, 2019 at 9:50 am GMT

Gold’s recent push lower has come to a standstill at the 1459 level while at the same time the ADX indicates an absence of a trend. The loss in steam – in the still neutral-to-bearish picture – is also reflected by the flattening of the 50- and 100-period simple moving averages (SMAs) and the short-term oscillators. The oscillators reflect a stall in negative momentum. The MACD, is in the negative region and below its red trigger line but has eased [..]

Daily Market Comment – Dollar jumps on solid NFP; markets brace for huge week

Posted on December 9, 2019 at 9:35 am GMT

Greenback and stocks cheer after blockbuster jobs report, but yen tells a different story Loonie nosedives on weak employment data, despite higher oil prices Calendar is low key today, but week is packed: Fed, ECB, UK election, tariff decision Dollar shoots higher as nonfarm payrolls smash expectations It was all about the US employment data on Friday, which easily beat forecasts. Nonfarm payrolls clocked in at 266k, much higher than the expected 180k, with last month’s print also revised up. [..]

Technical Analysis – Gold in neutral mode within tentative descending channel

Posted on December 2, 2019 at 8:33 am GMT

Gold has been light in terms of volatility over the past two weeks, sliding sideways within a tentative downward sloping channel that remains intact since early September. The momentum indicators continue to suggest a neutral-to-bearish bias for the short-term as both the RSI and the MACD have yet to show a clear direction in the bearish area, with the former ranging below its 50 neutral mark and the latter holding flat around its red signal line. A downside reversal in the price [..]

Daily Market Comment – Dollar and stocks jump, but trade worries keep investors on edge

Posted on November 28, 2019 at 10:12 am GMT

Solid US data dispel economic slowdown concerns, send dollar & stocks up Yet, optimism takes a hit after Trump signs Hong Kong bill, enraging China Sterling lifted by Yougov model projecting a clear Conservative victory Dollar and stocks climb on strong data, but China worries curb optimism Worries that the American economy may be headed for a recession took a breather yesterday, after the latest batch of US data beat forecasts, sending the dollar higher alongside Treasury yields as traders [..]

Technical Analysis – Gold moves sideways, sellers still eye lower levels

Posted on November 25, 2019 at 9:50 am GMT

Gold sellers are attempting to steer past the recent swing low of 1456 to put the asset back on a negative track. Despite the rebound off 1446 – which is the 38.2% Fibonacci retracement of the up leg from 1266.20 to 1556.92 – and the consolidation in price, the 200- and 100-day simple moving averages (SMAs) still suggest the commodity could lose further ground. The short-term oscillators lean towards the negative picture even though the market seems to have paused. [..]

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