gold

European Open Preview – Stocks retreat on trade woes; BoE ‘holds the line’

Posted on February 8, 2019 at 8:54 am GMT

Risk aversion returns as Trump reignites trade fears, says he won’t meet Xi soon Sterling rebounds as BoE sticks to hiking plans, but Brexit uncertainty lingers Euro drifts lower after EU Commission slashes growth forecasts Canadian employment data coming up Stocks take a hit as Trump says he won’t meet Xi soon US equity markets closed well in the red yesterday, with the S&P 500 shedding 0.94%, following headlines that President Trump will not meet President Xi before the March [..]

European Open Preview – No hawkish bits from BoE today; kiwi capitulates

Posted on February 7, 2019 at 8:31 am GMT

BoE may adopt a cautious tone today amid slowing economy, Brexit uncertainty Kiwi dollar collapses after soft jobs data ignite speculation for RBNZ rate cut Greenback capitalizes on weakness in other currencies; stocks stall BoE to strike cautious tone as Brexit uncertainty reigns The spotlight will fall on the Bank of England (BoE) today, which is expected to keep its policy unchanged via a unanimous vote at 12:00 GMT. Updated economic forecasts and a press conference by Governor Carney will [..]

European Open Preview – RBA chief jawbones aussie lower; pound slides

Posted on February 6, 2019 at 8:52 am GMT

Aussie plummets as RBA Governor changes tune, puts rate cut on table Pound dives after weak services PMI reinforces speculation for dovish BoE US stock markets cruise to fresh two-month highs RBA Governor reacquaints aussie with gravity The Australian dollar is in freefall early on Wednesday, losing more than a cent against its US counterpart, following some cautious-sounding remarks from RBA Governor Philip Lowe earlier. He backpedaled on some of the Bank’s prior rhetoric that the next move in interest [..]

European Open Preview – Neutral RBA lifts aussie; Wall Street advances

Posted on February 5, 2019 at 8:46 am GMT

Stocks climb while haven assets tumble, without any fresh catalyst Aussie outperforms after RBA wasn’t as dovish as markets expected Today, services PMIs from both the UK and US will dictate the action Stocks advance, yen crumbles as “no news is good news” Global risk appetite returned on Monday, in the absence of any material news or fresh fundamental catalysts to speak of. US stock markets recorded decent gains, with the benchmark S&P 500 (+0.68%) closing at a two-month high, [..]

Technical Analysis – Gold retreats from 8-month high; slips below 20-SMA

Posted on February 4, 2019 at 9:56 am GMT

Gold price reversed back to the downside and dropped below the 20-simple moving average (SMA) in the 4-hour chart after finding strong resistance at the eight-month high of 1326 in the prior week. The bias in the very short-term looks bearish as indicated by the RSI which has already entered the negative territory, while the MACD keeps falling below the trigger line, embracing this view as well. Further declines may meet immediate support around 1309, taken from the latest lows, while slightly lower the 40-SMA could [..]

European Open Preview – Dollar steady despite healthy US data; RBA in focus

Posted on February 4, 2019 at 9:08 am GMT

Dollar unable to rally even after US payrolls smash expectations Risk sentiment mostly in positive territory today amid trade optimism Aussie on the back foot ahead of RBA decision Dollar unimpressed by strong US data, as Fed casts shadow Nonfarm payrolls smashed expectations in January, clocking in at a robust 304k, much higher than the anticipated 165k – though last month’s print was revised down significantly, mitigating some of the good news. Wage growth held steady at 3.2% in annual [..]

Fed’s ‘patience’ on rates lifts gold; can it run even higher? – Commodity News

Posted on January 31, 2019 at 2:39 pm GMT

Gold prices have staged a remarkable rally in recent months, supported by a weakening dollar, growth risks and volatility in the broader market, as well as central banks expanding their reserves. There’s little on the horizon to suggest a change in this upward pattern, though for the bulls to manage to clear the $1355-1365 zone, some new trigger may be needed. After a relatively rocky year in 2018, which saw gold prices close marginally lower (-1.5%), the yellow metal has [..]

European Open Preview – Dollar suffers losses as Fed abandons hiking plans

Posted on January 31, 2019 at 8:53 am GMT

Fed removes guidance for more hikes; dollar crumbles, stocks soar Trade talks conclude today – any signs of progress crucial for markets Eurozone releases GDP data, risks seem skewed to the downside Dollar drops, stocks roar as Fed folds on further rate hikes While the Fed kept rates unchanged as expected yesterday, the meeting wasn’t short of surprises. Policymakers adopted an even more cautious tone, dropping the reference that further gradual rate hikes will be needed, instead reiterating the mantra [..]

European Open Preview – Brexit stays in limbo; Fed decision eyed

Posted on January 30, 2019 at 9:00 am GMT

Fed decides; Powell’s remarks on the balance sheet may be crucial Pound slides as Brexit uncertainty seems set to remain elevated US-China trade talks commence; plethora of earnings and data also due FOMC meeting – emphasis on Powell’s balance sheet remarks The main event today will be the Fed policy decision at 1900 GMT, which will be followed by a press conference from Chairman Powell – as will every meeting from now on. No change in policy is expected, and [..]

Technical Analysis – Gold touches fresh 7-month high above 1300

Posted on January 28, 2019 at 9:39 am GMT

Gold had one of its best trading sessions for this year so far on Monday, reaching a fresh 7-month high of 1304.30. However, currently, the price holds marginally below this peak. The technical indicators are still located in bullish area, with the MACD stretching further above its red signal line and the RSI moving above 70. Yet the latter could also be an indication that the rally is overdone, and hence negative corrections should not come as a surprise in the next few sessions as it is pointing to the [..]

Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. XM accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The research and analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests and to disregard any conflicts of interest in providing our services.

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losing all of your invested capital, so please make sure that you fully understand the risks involved.

How can we help?

Live Chat Terms