gold

Daily Market Comment – Dollar powers higher; trade hopes boost risk appetite

Posted on November 25, 2019 at 9:43 am GMT

Greenback soars after latest PMIs reaffirm US economic outperformance Risk appetite recovers as China reportedly prepares to crack down on IP issues Pound slips on soft PMIs, but recovers as polls show Tories extending lead Dollar rips higher after promising PMIs, capitalizes on euro softness The world’s reserve currency outperformed on Friday, after the preliminary US Markit PMIs for November rose by more than anticipated, prompting traders to scale back bets that the Fed will cut rates in the coming [..]

Daily Market Comment – Stocks slide as trade deal doubts grow; yen holds firm

Posted on November 21, 2019 at 9:37 am GMT

Fears grow that a ‘phase one’ trade deal between the United States and China might be delayed Row over Hong Kong adds to complications in talks as China plays down disagreement Stocks under pressure, yen and gold extend gains Oil eases on trade woes following surge from US inventories and Russia output pledge Reports of a delay in ‘phase one’ deal keeps risk aversion elevated Markets maintained a cautious mood on Thursday as conflicting reports about where the US-China [..]

Daily Market Comment – Yen and gold creep higher on trade nerves; Fed minutes eyed

Posted on November 20, 2019 at 9:31 am GMT

Increased caution on US-China trade talks gives rise to safe-haven demand Hong Kong tensions cast cloud over trade progress as US Senate bill angers China Pound pressured after Johnson-Corbyn televised debate Mixed signals on trade talks put a lid on risk appetite Risk sentiment soured slightly on Wednesday as investors grew wary about the possibility of the United States and China striking a partial trade deal in the coming weeks. The renewed caution comes amid growing tensions between the two [..]

Daily Market Comment – Trump teases negative rates, spooks dollar

Posted on November 19, 2019 at 9:24 am GMT

Dollar drops as Trump meets Powell to discuss interest rates and FX US stocks shrug off negative trade headlines, claim new record highs Aussie pulls back after RBA minutes, but recovers Dollar retreats as Trump discusses negative rates with Powell Fed Chairman Jay Powell met with President Donald Trump on Monday to discuss the economy. The latter then tweeted out that the conversation centered around how high US interest rates are relative to other advanced economies, the prospect of negative [..]

Technical Analysis – Gold stays within tentative descending channel

Posted on November 18, 2019 at 8:27 am GMT

Gold recouped a small portion of its losses last week to close slightly positive after finding support at 1,445 and near the bottom of a tentative descending channel. Despite the rebound, the price remained slightly below its 20- and 50-simple moving averages (SMAs) that maintain a bearish cross and under the Ichimoku cloud. Meanwhile in momentum indicators, signals are also discouraging as the RSI was unable to return above its 50 neutral mark and the MACD held stable below its red signal [..]

Technical Analysis – Gold looking neutral-to-bearish, support structure may disagree

Posted on November 11, 2019 at 10:18 am GMT

Gold rebounds off the support structure of 1459 – 1453 with buyers trying to push higher. The yellow metal deflected off the resistance structure of 1514 – 1520 last week and dropped underneath all simple moving averages (SMAs) and slightly below the 1459 trough of October 1. Furthermore, the downward slopes in the SMAs lean towards a negative outlook. Yet, the short-term oscillators suggest that negative momentum is starting to weaken. The MACD, deep in the negative region, has just [..]

Daily Market Comment – Risk appetite softens on mixed US signals about trade deal; pound slips after BoE

Posted on November 8, 2019 at 9:20 am GMT

Markets remain optimistic of a US-China deal but US officials cast doubt over tariff rollback Dollar set for weekly gains as yen on the pull back Pound skids after Bank of England signals possible rate cut Confused messages on tariff concession Risk appetite cooled off slightly on Friday as confusing signals by US officials on whether the White House is ready to accept the roll back of some of the tariffs on Chinese imports raised question marks about China’s assertion [..]

Daily Market Comment – Markets whipsaw on conflicting trade headlines; US-China deal moves closer

Posted on November 7, 2019 at 9:28 am GMT

US-China trade deal appears back on after earlier reports of a possible delay causes brief spike in risk aversion Yen led on a roller-coaster ride by on-off-on trade deal prospects Pound steady ahead of Bank of England meeting US and China reportedly agree to roll back some tariffs Trading got off to a volatile start on Thursday as negative headlines late on Wednesday quickly turned positive. Doubts emerged about the likelihood of the US and China being able to sign [..]

Daily Market Comment – Dollar steadier after US data boost; stock market rally cools

Posted on November 6, 2019 at 9:18 am GMT

US dollar surges on strong ISM non-manufacturing PMI before steadying Stocks get off to softer start as trade deal euphoria starts to fade Euro pressured by stronger dollar; kiwi up despite disappointing jobs numbers Dollar hits 3-week high on upbeat PMI Better-than-expected economic data and optimism that the US and China are nearing a ‘phase one’ trade deal lifted the US dollar to the highest in three weeks against a basket of currencies on Tuesday. The dollar index reached a [..]

Daily Market Comment – Stocks rally on rising trade deal hopes; yuan hits 3-month high

Posted on November 5, 2019 at 9:04 am GMT

Growing optimism that a partial trade deal between the US and China is within reach boosts risk assets Yen and Swiss franc extend losses, yuan climbs to highest in three months Aussie edges up after RBA keeps rates steady; dollar eyes ISM non-manufacturing PMI US may roll back some China tariffs Optimism around a ‘phase one’ US-China trade deal continued to boost risk appetite on Tuesday, lifting stocks and other risk assets, while dampening demand for safe havens such as [..]

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