gold

Daily Market Comment – Yen firms again as trade jitters return; euro and pound steady despite election talk

Posted on August 9, 2019 at 8:12 am GMT

Risk aversion spikes again on reports US won’t ease Huawei restrictions Safe havens remain supported, stocks falter Euro and pound unmoved by speculation of snap elections in Italy and the UK Bounce in risk appetite proves short lived as trade worries return Market sentiment turned sour again on Friday as trade tensions resurfaced after Bloomberg reported that the United States is delaying a decision on whether to allow some American companies to do business with China’s Huawei Technologies. President Trump [..]

As the trade war fires up, what’s next for markets? – Special Report

Posted on August 8, 2019 at 12:44 pm GMT

The trade war between Washington and Beijing has flared up, and looks likely to intensify even further, as Trump may use the conflict to score political points ahead of the 2020 US election. In the markets, while stocks may feel some pain, stimulus by the major central banks will likely offset part of those losses. Instead, a far better proxy for any future escalation may be the Japanese yen, which could appreciate further both through the risk sentiment channel and [..]

Daily Market Comment – China exports rise helps markets stabilize; yen holds near highs

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

Positive trade data out of China lifts sentiment but stocks recover only modestly Aussie and kiwi bounce off lows, US dollar struggles for direction Markets spooked by global slump in government bond yields; gold jumps China posts surprise increase in exports China reported unexpectedly strong export numbers on Thursday, adding some cheer to a gloomy market environment. Exports were up 3.3% annually in July, beating forecasts of a 2.0% drop. Imports also came in at a better-than-expected -5.6%, suggesting domestic [..]

Daily Market Comment – Kiwi plunges on shock RBNZ cut; stocks sell-off eases on Kudlow remarks

Posted on August 7, 2019 at 8:19 am GMT

New Zealand dollar nosedives after RBNZ cuts rates by bigger-than-expected 50 basis points Yen and Swiss franc turn back up after yuan slips again Stocks end losing streak after Kudlow keeps alive prospect of more trade talks Kiwi slumps to 3½-year low on shock RBNZ move The Reserve Bank of New Zealand surprised markets on Wednesday by delivering a hefty 50-bps cut in its official cash rate (OCR), confounding analysts and traders who were expecting a smaller 25-bps cut. This [..]

Daily Market Comment – Yen and gold soar; yuan sinks as trade war savages markets

Posted on August 5, 2019 at 8:26 am GMT

Safe havens such as the yen and gold surge as heated trade tensions extend broad sell-off in risk assets Yuan breaks past 7 per dollar level as PBOC gives green light to a weaker currency US dollar mixed as Fed rate cut expectations rise again Market rout deepens, yen rallies The fallout from the latest escalation in the US-China trade dispute continued to be felt across financial markets on Monday as investors sold off stocks and emerging market currencies [..]

Technical Analysis – Gold breaks upper boundary of trading range; prints new high

Posted on August 5, 2019 at 8:14 am GMT

Gold tested the 1400 hurdle for the third time over the last three weeks, and then rallied past the previous highs of 1437.58 and 1439.04 from July 3 and June 25. The metal then took a breather, and today moved above its six-year high of 1452.87, to produce a current new high of 1459.06. Although the 20- and 100-day simple moving averages (SMAs) are nearly parallel and flat, suggesting some neutrality, the 14-day SMA has broken above the 20-day SMA [..]

Daily Market Comment – Fed’s ‘hawkish’ cut propels dollar higher; BoE next

Posted on August 1, 2019 at 8:36 am GMT

Fed cuts by 25bp, but appears hesitant to commit to more Dollar soars to two-year high versus euro, may have more room to gain for now BoE likely to adopt a more dovish tone at today’s meeting Stocks retreat after Fed, despite “constructive” trade talks Not-so-dovish Fed sends dollar soaring As expected, the Federal Reserve cut rates by 25 basis points (bp) yesterday, citing global growth and trade uncertainties coupled with muted inflation pressures as the driving forces behind the [..]

Daily Market Comment – Sterling pummeled by Brexit blues

Posted on July 30, 2019 at 8:37 am GMT

Sterling crumbles as no-deal rhetoric heats up – outlook still negative Bank of Japan takes no action, yen likes it German and US data due; trade talks resume Pound collapses as Boris plays ‘chicken’ with EU There’s no reprieve for the wounded British pound, which fell to a fresh 2½-year low against the dollar earlier today, following another round of worrisome Brexit rhetoric. Boris Johnson and his lieutenants reiterated that the Irish backstop is “dead”, with Foreign Secretary Raab saying [..]

Technical Analysis – Gold pushed back; sellers disagree with new high

Posted on July 29, 2019 at 8:58 am GMT

Gold printed a multi-year high of 1452.87 on July 19, but sellers moved the asset back below previous highs of 1433.50 and 1439 recorded a month ago. The metal has found support on the 21-day simple moving average (SMA) and the Kijun-sen average around 1415. Tenkan-sen average has flattened out, indicating that short-term upside momentum is fading. The RSI agrees with this outlook, as despite being in positive zone, it has neared the neutral area and become flat. The MACD [..]

Daily Market Comment – Dollar sails higher; Boris becomes Prime Minister

Posted on July 23, 2019 at 8:09 am GMT

Dollar advances on US debt ceiling accord; may have more room to climb Boris Johnson to become new UK Prime Minister – watch his Cabinet picks Loonie and kiwi lose ground, earnings season fires up Greenback catches a bid after US debt ceiling deal Market moves were relatively subdued on Monday, with most major currency pairs trading in narrow ranges, without much in the way of news flow to guide the price action. Things became more interesting overnight though, after [..]

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