gold

European Open Preview – Trade talk hopes weigh on dollar; BoE, ECB & Turkish central bank policy decisions eyed

Posted on September 13, 2018 at 7:48 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is slightly higher on Thursday (+0.08%), recouping some of the losses it posted in the previous session as safe-haven bets on the currency were scaled back, following news the US and China are set to hold new trade talks. The risk-sensitive aussie surged, while the loonie also advanced after Mexico’s economy minister played up the prospect of a US-Canada trade deal. Elsewhere, the euro and sterling were little changed, ahead [..]

US Open Preview – Dollar trades with caution ahead of PPI; EM currencies at fresh lows as trade fears weigh

Posted on September 12, 2018 at 11:31 am GMT

Here are the latest developments in global markets: FOREX: During the early European session, the dollar was slightly weaker against the yen at 111.47 (-0.13%), while the dollar index also stood marginally lower at 95.16 (-0.09%) as investors were cautious about whether Washington will proceed with further import tariffs against China, potentially forcing Beijing to take countermeasures as well. In emerging markets, trade fears spurred a further sell-off, with the offshore Chinese yuan dropping to 2 ½ -week lows and the Indian rupee hitting fresh record troughs [..]

European Open Preview – Yen retreats as risk appetite firms; trade, EM-angst and Brexit remain in the background

Posted on September 12, 2018 at 8:03 am GMT

Here are the latest developments in global markets: FOREX: The US dollar was nearly flat against a basket of six major currencies on Wednesday (-0.03%), after posting some modest losses in the previous session. Meanwhile, the yen retreated notably on Tuesday, as risk appetite remained firm and investors rotated out of safer assets. In Canada, the loonie staged a significant comeback amid encouraging NAFTA signals from the US President and a surge in oil prices. STOCKS: US markets closed in the green on Tuesday, buoyed by [..]

US Open Preview – Brexit hopes and wage data support sterling; euro drops as China turns to WTO for US sanctions

Posted on September 11, 2018 at 11:25 am GMT

Here are the latest developments in global markets: FOREX: An upbeat employment report in the UK helped pound/dollar to briefly rally toward a fresh five-week high of 1.3086 during the early European session as the data showed that average weekly earnings picked up speed to 2.6% y/y in July, surpassing the forecast of 2.4%. Excluding bonuses, British wages recorded a stronger growth as well, expanding at 2.9% compared to the 2.8% estimate and the previous mark of 2.7%. Regarding the number of people claiming unemployment benefits, [..]

European Open Preview – Barnier fuels another surge in sterling, jobs data to set currency’s intraday direction

Posted on September 11, 2018 at 7:45 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index – which measures the greenback’s performance against a basket of six major currencies – is down by 0.12% on Tuesday, extending losses from the previous session. Sterling spiked higher once again, following encouraging comments from the EU’s chief Brexit negotiator that reaching a deal within 6-8 weeks is “realistic”. Meanwhile, the yen was on the retreat amid a recovery in risk sentiment, though that may not necessarily remain the [..]

US Open Preview – Euro benefits on Italian political optimism; Pound rebounds as UK GDP growth surprises

Posted on September 10, 2018 at 11:47 am GMT

Here are the latest developments in global markets: FOREX: Sterling crossed marginally below 1.2900 per dollar before better than expected GDP growth figures out of the UK drove the pair up to an intra-day high of 1.2954 amid speculation that British economy could have a good start in the third quarter despite Brexit uncertainties looming in the background. GDP growth clocked in at 0.3% in monthly terms, driving the yearly gauge up to 1.6%. Expectations were for an expansion of 0.2% month-on-month [..]

Technical Analysis – Gold neutral in short-term but still negative in long-term

Posted on September 10, 2018 at 10:04 am GMT

Gold holds below the 20- and 40-simple moving averages (SMAs) in the 4-hour chart, signaling further losses. In the short-term though, the market appears to be in a largely neutral mode after the fall below the 1207 hurdle. The RSI is largely moving sideways below the 50 level. Notice though that the MACD has dropped below its trigger and zero lines; the decline below the trigger line may signal a fresh wave of negative momentum. If price action jumps above the SMAs, there is scope to test the 1207 resistance level, taken from [..]

European Open Preview – Strong earnings growth lifts the dollar; trade in focus again

Posted on September 10, 2018 at 7:45 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is marginally higher on Monday (+0.04%), holding onto the gains it recorded in the previous session, after a surprising acceleration in US wage growth fueled demand for the greenback. The pound also soared higher on Friday as some appeasing remarks from EU chief negotiator Barnier enhanced speculation that a Brexit deal may ultimately be delivered. STOCKS: Wall Street closed lower on Friday, as investors’ risk appetite was curbed by some confrontational remarks by [..]

US Open Preview – Sterling above $1.30 on Barnier comments as trade jitters weigh on Aussie; US jobs data awaited

Posted on September 7, 2018 at 11:41 am GMT

Here are the latest developments in global markets: FOREX: The US currency was trading marginally lower versus a basket of currencies ahead of the highly anticipated employment report for August due at 1230 GMT. Dollar/yen was roughly flat after losing 0.7% on Thursday, as angst over the prospect of deteriorating global trade conditions boosted the safe-haven perceived yen. The euro was down on the margin versus the dollar, reacting little to a downward revision in the eurozone’s pace of growth [..]

European Open Preview – Yen advances as risk appetite falters; US jobs report coming up

Posted on September 7, 2018 at 7:41 am GMT

Here are the latest developments in global markets: FOREX: The US dollar is marginally lower against a basket of six major currencies on Friday (-0.08%), ahead of the release of the all-important US payrolls report at 1230 GMT, where focus may once again fall primarily on the earnings figures. Safe-haven currencies like the yen and the Swiss franc rallied amid trade jitters, while the risk-sensitive aussie faltered, touching a fresh low last seen in early-2016 against the dollar. STOCKS: US markets closed lower for [..]

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