gold

European Open Preview – Sterling climbs on hints of Brexit extension

Posted on January 14, 2019 at 8:58 am GMT

Sterling spikes higher, looks to parliamentary vote on Brexit deal tomorrow Risk aversion returns after Chinese trade data disappoint Euro inches lower as ECB officials strike a more concerned tone Pound outperforms on reports of Article 50 delay The British pound advanced against all its major peers on Friday, after UK media reported that the government is considering delaying the official deadline for exiting the EU on March 29, if it loses the crucial Brexit-deal vote in Parliament tomorrow. Although [..]

European Open Preview – FOMC minutes and BoC rate decision in the spotlight

Posted on January 9, 2019 at 8:59 am GMT

In the US, minutes from the latest FOMC meeting will be scrutinized for clues on whether a pause in rate hikes is indeed in order In Canada, the BoC will meet and attention may fall on whether policymakers are growing more cautious Overnight, China releases its updated inflation data FOMC minutes eyed for rate guidance amid recession fears The dollar advanced nearly across the board on Tuesday without any major US-specific catalyst, instead capitalizing on weakness in the euro, which [..]

Technical Analysis – Gold stands above mid-level of Bollinger Band; next target 7-month high

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

Gold has rebounded on the 1276.56 support level in the preceding week after the downfall from the almost seven-month high of 1298.47. The rally brought the price above the 20- and 40-simple moving averages (SMAs) in the 4-hour chart, endorsing the outlook to a strongly positive one. Technically, the RSI indicator is sloping marginally down while in positive territory and the MACD oscillator holds below the trigger line in the bullish area. Currently, the price action has turned negative despite the latest upside pullback. Should the [..]

European Open Preview – Dollar down, stocks up on Powell’s flexible policy; China boosts liquidity

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

US Jobs report impress, Powell backs flexible policy China cuts reserve requirements amid slowing economic activity Loonie jumps to 3-week highs Nonfarm payrolls impress but Powell sounds cautious; China takes further monetary easing steps The US Jobs report beat expectations on Friday, brushing away fears of a cooling labour market and a slowing economy. Nonfarm payrolls jumped by 312k in December, while November’s print was revised upwards by 22k. Average hourly earnings also picked up speed to reach a new decade high of 3.2% [..]

European Open Preview – Yen spike triggers ‘flash crash’ as growth fears intensify

Posted on January 3, 2019 at 9:06 am GMT

Yen soars after Apple profit warning sends jitters across FX markets Aussie plunges to multi-year lows versus the dollar and yen Oil back down after sharp gains the previous day Volatility sweeps financial markets Currency markets had a volatile start to the new year as risk sentiment took another turn for the worse in the first two days of trading of 2019. The Japanese yen soared across the board as investors fled to safety on heightened concerns about the global [..]

Technical Analysis – Gold hits new 6-month high; strongly bullish in near term

Posted on December 31, 2018 at 9:07 am GMT

Gold has been in a flying mode over the last couple of days, touching a fresh six-month high of 1282 earlier today. The rally brought the price above the 20- and 40-simple moving averages (SMAs) in the 4-hour chart, endorsing the outlook to a strongly positive one. From the technical point of view, the RSI indicator is moving slightly higher near the overbought zone, while the MACD oscillator dropped below the trigger line but remains well above the zero level, [..]

European Open Preview – Dollar sags but equities stage comeback

Posted on December 28, 2018 at 9:07 am GMT

US equities stage a major comeback late in the session, close higher Dollar edges lower as Fed rate-hike expectations are almost fully priced out Yen shines, loonie and aussie flirt with lows amid broader risk-off mood US stocks stage an impressive late comeback, but skepticism lingers It was another session characterized by sharp moves in both the currency and equity markets on Thursday amid thinner-than-usual liquidity, and with little in the way of fresh news to drive the price action. [..]

Technical Analysis – Gold unlocks six-month highs; bullish and overbought

Posted on December 27, 2018 at 10:00 am GMT

Gold jumped above the 200-day simple moving average (MA) last week for the first time since May and continued to rally until touching a six-month high of 1,279 yesterday. With the RSI breaking above the 70 overbought barrier after a long time, downside corrections are not unlikely in the short-term. The positive momentum in the MACD though, which fluctuates comfortably above its red signal line, suggests that the precious yellow metal will likely maintain its gains, at least in the short term. On the upside, [..]

European Open Preview – Stock carnage deepens; yen extends gains

Posted on December 24, 2018 at 8:58 am GMT

US stock indices extend losses, Nasdaq enters bear market as concerns around future growth feed risk aversion Dollar and yen outperform on safe-haven demand, but are giving back some gains on Monday amid encouraging trade headlines Equities drop to fresh lows as uncertainty reigns US stock indices closed with sharp losses once again on Friday, in an environment characterized by thin liquidity, as investors attempted to protect their profitability heading into the New Year via liquidating more of their prior [..]

Week Ahead – Markets to enter Christmas lull; risk of volatility in thin trade

Posted on December 21, 2018 at 12:55 pm GMT

As the holiday period begins, markets will go into quiet mode for the next two weeks with little on the economic agenda to keep traders at their desks. However, with the market sentiment being stuck in risk-off mood, there is a threat that thin trading conditions could lead to some unexpected volatility, particularly from any headlines that would fuel concerns of a major global economic downturn in 2019. Japanese data to dominate The Japanese market will be the busiest next [..]

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