gold

Technical Analysis – Gold gears to new highs; looks cautiously bullish in short-term

Posted on August 26, 2019 at 7:20 am GMT

Gold staged a quick rebound on Friday after failing to breach the 1,493 support area, while on Monday the yellow metal opened with a positive gap to hit an almost 6 ½-year high of 1,555. The red Tenkan-sen and the blue Kijun-sen completed a neutral phase and returned to the upside, capturing bullish pressures in the market. The positive momentum in the RSI and the MACD is another call for further improvement, though with the former being ready to enter [..]

Can monetary and fiscal stimulus save the global economy from Trump’s trade war? – Special Report

Posted on August 23, 2019 at 11:04 am GMT

Stock markets around the world have rebounded this week as talk of stimulus in China and Germany has given rise to hopes that pre-emptive action by policymakers can avert a global economic downturn triggered by President Trump’s protectionist policies. But with a US-China trade deal fast slipping away, do governments and central banks have enough firepower to prevent a new global crisis from unfolding? World interest rates have hit rock bottom With interest rates in most advanced economies not recovering [..]

Daily Market Comment – Powell speech awaited as Fed hawks come out; pound jumps on Brexit hopes

Posted on August 23, 2019 at 8:13 am GMT

Markets await Powell’s Jackson Hole speech amid signs of resistance to further rate cuts US dollar holds firm as Treasury yields extend rebound; gold drifts lower Pound swings higher after Merkel and Macron boost Johnson’s chances of backstop changes All eyes on Jackson Hole Traders’ focus will centre on Fed Chairman Jerome Powell today when he makes his key address at the Jackson Hole Economic Symposium at 14:00 GMT. Speculation as to how dovish Powell’s speech will be have intensified [..]

Daily Market Comment – Major pairs steady as markets await Fed minutes and Powell

Posted on August 21, 2019 at 8:19 am GMT

Major pairs hold within recent trading ranges as markets seek direction from the Federal Reserve Trump steps up rhetoric against China, reminding investors that trade war is here to stay Euro unfazed by Italian political crisis, pound see-saws on Brexit backstop headlines Calm in currency markets ahead of key Fed events Major pairs were trading sideways on Wednesday as markets turned cautious ahead of the minutes of the Fed’s July meeting and the upcoming speech by Fed Chairman Jerome Powell [..]

Technical Analysis – Gold slips below 50-SMA; risk leans towards negative

Posted on August 19, 2019 at 8:57 am GMT

Gold has only been focused on making new peaks as it logged a new 6-year and four-month high of 1534.91. The metal corrected to the downside after the high on August 13 but the 50-period simple moving average (SMA) in the four-hour chart managed to limit the negative movement. The MACD and the RSI are indicating that the positive directional momentum is decreasing as the MACD is underneath its red trigger line, nearing zero, whereas the RSI has moved slightly [..]

Daily Market Comment – Stocks up on China rate reform; dollar firms ahead of Jackson Hole

Posted on August 19, 2019 at 8:20 am GMT

Risk sentiment continues to improve on reports of China interest rate reforms and German fiscal stimulus Stocks have a positive start to week while safe-havens yen, Swiss franc and gold retreat Dollar holds firm as markets await policy cues from Powell at Jackson Hole symposium China reforms and German stimulus reports boost markets Markets opened in a positive mood on Monday, extending the rebound in risk appetite from late last week. Sentiment was boosted from developments over the weekend that [..]

Week Ahead – Fed minutes and Jackson Hole eyed for policy direction; ECB minutes and Eurozone PMIs also in focus

Posted on August 16, 2019 at 10:47 am GMT

The summer lull will continue into next week as economic releases will remain sparse. However, central bank minutes and the annual gathering of central bankers at the Jackson Hole Economic Symposium should generate plenty of headlines ahead of expected policy easings in September. Trade and geopolitical tensions will also come to the fore as world leaders attend a G7 summit in France. Aussie and kiwi to remain on the backfoot The Australian and New Zealand dollars have managed to steady [..]

Daily Market Comment – Dollar and stocks rally in relief after tariff delays

Posted on August 14, 2019 at 8:10 am GMT

US tariff exemptions lift risk sentiment – stocks soar, yen retreats But optimism tempered by weak Chinese data overnight UK inflation data and Eurozone GDP coming up Trump’s tariffs delay revives risk appetite, but is this a game changer? Global risk sentiment came roaring back on Tuesday, with US stock markets closing 1.5% higher and WTI oil gaining 4%, after the Trump administration said it will delay tariffs on several Chinese products until December and exempt some goods altogether. [..]

Daily Market Comment – Sterling feels the burn; Trump plays trade ‘hardball’

Posted on August 12, 2019 at 7:58 am GMT

Sterling resumes downtrend as UK economy shrinks, Brexit fears intensify Yen extends gains after Trump says he isn’t ready to make a deal Calendar practically empty today, in a thin liquidity environment Pound feels the burn as UK economy contracts The British pound remains the ‘sick man’ of the FX market, plummeting to a new three year low against the euro on Friday, after the latest GDP figures showed that the economy contracted in Q2 for the first time since [..]

Technical Analysis – Gold bulls locked below 1,500; could lose momentum in short-term

Posted on August 12, 2019 at 7:22 am GMT

Gold bulls got trapped around the 6-year high of 1,500 and the 61.8% Fibonacci of the long downleg from 1,796 to 1,046 after gaining more than 3.5% last week. Technically, the market could soften in the short-term as the RSI and the Stochastics seem to be slowing down in the overbought territory. The flattening Tenkan-sen and the stable Kijun-sen are also an indication that the market could trade more cautiously in the short-term. Yet the higher highs and the higher [..]

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