gold

US Open Preview – Dollar index breaks 93 key-level ahead of Trump’s nuclear decision

Posted on May 8, 2018 at 11:18 am GMT

Here are the latest developments in global markets: FOREX: The euro extended its losses against the dollar early in the European session as investors shorted their positions on the currency amid uncertainties surrounding the Eurozone’s economic performance, sending euro/dollar to a fresh 4-month low of 1.1870 (-0.41%). Pound/dollar was also on the back foot, slipping to 1.3509 (-0.35%) after the British Halifax house price index fell by more than expected on a monthly basis. Brexit risks were pressuring the pair as [..]

European Open Preview – Dollar little changed; Trump’s Iran decision in the spotlight

Posted on May 8, 2018 at 7:39 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index, which gauges the greenback’s strength against a basket of six major currencies, was practically flat on Tuesday ahead of a speech by Fed Chair Jerome Powell at 0715 GMT. It touched its highest level in five months yesterday, as the euro (which has by far the biggest weight in this basket) declined following some lackluster data out of the Eurozone. STOCKS: US markets closed higher yesterday. The tech-heavy Nasdaq Composite climbed [..]

US Open Preview – Euro under pressure as economic confidence fades

Posted on May 7, 2018 at 11:32 am GMT

Here are the latest developments in global markets: FOREX: The demand for greenback remained strong early in the European session, supported by rising confidence that the Fed, unlike its major counterparts, would keep pace with its stimulus reduction plans despite Friday’s nonfarm payrolls report showing wages growing less than expected. However, risks of a global trade war continued to hang in the background as trade talks between the US and Chinese negotiating teams last week failed to strike a deal. The [..]

Technical Analysis – Gold edges lower after touching 1319 resistance level; holds in trading range in medium term

Posted on May 7, 2018 at 8:07 am GMT

Gold has been edging sharply lower during today’s European session after the pullback on the 1319 resistance level. It is worth mentioning that the price has been developing within a trading range since January 2 with the 1365 resistance level being the upper boundary and the 1303 support level the lower boundary, while it lacks a clear trend. Technically, in the 4-hour chart, the RSI indicator is sloping to the downside and is approaching the negative territory, while the stochastic oscillator posted [..]

European Open Preview – Dollar climbs after jobs data; trade developments eyed

Posted on May 7, 2018 at 7:46 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is 0.1% higher on Monday, extending the gains it posted on Friday in the aftermath of the US employment report for April. The US unemployment rate touched a 17-year low, likely enhancing speculation that an ever-tightening labor market is set to push wages higher in the coming months – labor force participation did fall as well though. STOCKS: Wall Street closed higher on Friday, paring some early losses posted after the [..]

US Open Preview – Greenback firms as markets await US employment data

Posted on May 4, 2018 at 11:20 am GMT

Here are the latest developments in global markets: FOREX: The dollar index, which gauges the greenback’s strength versus six major currencies, edged higher by 0.20% during the European session to 92.55, approaching the four-month high of 92.63 reached on Wednesday. Euro/dollar remained under selling pressure after Eurozone’s retail sales and final services PMI figures were weaker than expected, slipping by 0.23%. Meanwhile, dollar/yen retreated to 109.05 (-0.08%), with the focus remaining on whether US jobs data will provide the spark for [..]

European Open Preview – Dollar eases off highs ahead of nonfarm payrolls

Posted on May 4, 2018 at 7:53 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is higher on Friday, but by less than 0.1%, recouping some of the losses it posted yesterday. Today, all eyes will be on the US employment data for April, and particularly on the wages component of that report. Sterling/dollar is down by 0.1%, with the British pound remaining under pressure as markets continue to price out expectations for a BoE rate hike next week. STOCKS: Wall Street closed [..]

Gold retreats as “king dollar” returns, but risk events still loom – Commodity News

Posted on May 3, 2018 at 12:10 pm GMT

The past few weeks have not been kind to gold prices, which touched their lowest level in four months on Tuesday, as a cocktail of fading risks on the Korean peninsula and a recovering dollar curbed demand for the precious metal. While a resurgent dollar continues to pose downside risks for gold, there are several other political and geopolitical risk events that have the capacity to push prices higher should they materialize, most notably a potential escalation of tensions with [..]

US Open Preview – Euro, pound lose momentum after data misses

Posted on May 3, 2018 at 11:31 am GMT

Here are the latest developments in global markets: FOREX: The US dollar continued to move lower during the early European session, deviating further below the 3-month high of 110.02 versus the yen reached during Wednesday’s European trading. Specifically, dollar/yen retreated to 109.49 (-0.32%), a day after the FOMC left interest rates unchanged. The accompanying statement acknowledged that inflation is close to target, signaling that policymakers would accept inflation surpassing the 2.0% target. However, a drop of a statement highlighting the [..]

European Open Preview – Dollar trades like a rollercoaster after Fed; eurozone inflation coming up

Posted on May 3, 2018 at 7:46 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index, which gauges the greenback’s strength against a basket of six major currencies, was practically unchanged on Thursday after it touched its highest level in 2018 yesterday, in the aftermath of the Fed’s policy meeting. STOCKS: US markets closed lower yesterday, following the FOMC meeting. Although stock indices spiked higher immediately on the decision, that sentiment quickly turned around and equities edged lower to finish in the red. The S&P [..]

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