gold

European Open Preview – Dollar drops on Trump comments; yen rallies on safe-haven demand, possible BOJ moves

Posted on July 23, 2018 at 11:47 am GMT

Here are the latest developments in global markets: FOREX: The US dollar continued to find itself under pressure following the comments by President Trump criticizing the Fed’s rate hike plan and also characterizing the dollar as too strong and other countries as currency manipulators. The yen posted impressive gains because on the one hand there was some risk-off sentiment and on the other hand there were rumors that the Bank of Japan was thinking how to modify its monetary stimulus program [..]

US Open Preview – Euro trades flat ahead of Eurozone consumer confidence index

Posted on July 23, 2018 at 11:44 am GMT

Here are the latest developments in global markets: FOREX: The US dollar edged sharply lower over the last three straight days against the Japanese yen as the movements were based on reports the Bank of Japan (BOJ) is discussing changes to its monetary policy, including changes in interest rates and stock buying techniques. The 10-year yield in Japan climbed as much as six basis points to 0.090%, hitting the highest level since February. Dollar/yen continued the bearish move today as well, losing 0.25%. However, the US dollar index [..]

Technical Analysis – Gold retreats below 40-SMA; bearish picture remains in long term

Posted on July 23, 2018 at 8:06 am GMT

Gold eases on Monday’s session after an aggressive buying interest in the previous day after the rebound on the one-year low of 1211.38. The precious metal dipped below the 40-simple moving average (SMA) in the 4-hour chart pointing to a continuation of the bearish outlook. From the technical point of view, the Relative Strength Index (RSI) is sloping to the downside, slightly above the threshold of 50, while the %K line dipped below the %D line in the overbought zone, creating a [..]

US Open Preview – Dollar reacts little on fresh trade threats; Canadian CPI & retail sales pending

Posted on July 20, 2018 at 11:34 am GMT

Here are the latest developments in global markets: FOREX: The US dollar was trading lower against the Japanese yen on Friday, though by not much, at 112.40 (-0.07%) remaining below the 1-year high of 113.15 reached on Thursday as investors kept in mind Trump’s criticism made on Thursday about higher US interest rates and a stronger dollar. Renewed US trade warnings against China today did little to move the pair (see below). The dollar index against a basket of currencies moved down by 0.05% after the bounce off the 1-year [..]

US Open Preview – Sterling plunges to fresh 10-month lows after UK retail sales disappoint

Posted on July 19, 2018 at 11:36 am GMT

Here are the latest developments in global markets: FOREX: Sterling tumbled by 0.69% against the greenback on Thursday, hitting a fresh 10-month low of 1.2970 in the wake of worse-than-expected retail sales figures out of the UK. Month-on-month retail sales dropped 0.5% in June from 1.4% in May, missing market expectations of a 0.2% gain. On a yearly basis, the index increased 2.9% versus 3.7% expected and May’s mark of 4.1%. Yet, the report revealed that quarter-on-quarter retail sales growth was [..]

European Open Preview – US dollar off highs on profit-taking; UK retail sales to be watched for rate clues

Posted on July 19, 2018 at 8:07 am GMT

Here are the latest developments in global markets: FOREX: The US dollar was off the previous day’s multi-month highs versus its major counterparts on profit-taking, although it was holding firm on the back of optimism from the Federal Reserve Chair Jerome Powell about the prospects of the US economy. The dollar looked set to retest these highs as it was receiving support from what was becoming the main scenario of two more rate hikes in the remainder of 2018. On the [..]

US Open Preview – Pound touches 10-month low after UK inflation misses forecasts; dollar unlocks fresh highs

Posted on July 18, 2018 at 11:52 am GMT

Here are the latest developments in global markets: FOREX: The US dollar extended its bullish rally against the Japanese yen towards a fresh 6-month high of 113.13, adding 0.08% to its performance on Wednesday. Markets reacted positively after the Fed Chair, Jerome Powell, gave a bullish assessment of the US economy, reducing their exposure to safer assets such as the yen. Also, the US dollar index gained 0.33% and surpassed the 95.00 handle. Sterling plummeted to 10-month lows (-0.61%) today, pausing at 1.3000 after the UK’s [..]

European Open Preview – Dollar broadly stronger on Powell’s optimistic remarks; UK inflation eyed

Posted on July 18, 2018 at 7:57 am GMT

Here are the latest developments in global markets: FOREX: The dollar continued gaining versus a basket of currencies on Wednesday after rising by a bit less than 0.5% the previous day. Upbeat comments on the US economy by Fed Chief Jerome Powell acted as the catalyst for the greenback’s advance, as well as fueling risk sentiment. In light of the risk-on mood, the yen retreated, with dollar/yen reaching a fresh six-month high of 113.07 earlier on the day. STOCKS: The [..]

US Open Preview – Dollar firmer versus yen ahead of Powell’s testimony

Posted on July 17, 2018 at 11:39 am GMT

Here are the latest developments in global markets: FOREX: The US dollar was trading higher at 112.48 against the Japanese yen (+0.20%) ahead of the Federal Reserve Chairman Jerome Powell’s semi-annual testimony on the economy and monetary policy. Overall, the dollar index was weaker against a basket of six major currencies (-0.03%) and is set to post the third consecutive negative day. Pound/dollar touched a session high of 1.3267 after the Office for National Statistics revised April’s average earnings index (including bonuses) from [..]

European Open Preview – Dollar pulls back ahead of Powell’s testimony; UK jobs data in focus

Posted on July 17, 2018 at 7:43 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is lower by 0.14% on Tuesday, ahead of a testimony by Fed Chairman Jerome Powell before the US Senate at 1400 GMT. Elsewhere, kiwi/dollar is up by 0.77%, following encouraging core inflation data out of New Zealand overnight. STOCKS: US markets closed mixed on Monday. While the Dow Jones managed to advance by 0.18%, the S&P 500 and the Nasdaq Composite edged lower by 0.10% and 0.26% respectively. Something similar appears [..]

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