gold

European Open Preview – Stocks plunge, yen rallies as trade war saga gets new chapter

Posted on March 23, 2018 at 8:56 am GMT

Here are the latest developments in global markets: FOREX: The yen was building on yesterday’s gains versus other major currencies on Friday, as rising fears of a global trade war acted as a catalyst for the currency to attract safe-haven flows. Versus the dollar, the Japanese currency recorded a 16-month high of 104.62. STOCKS: Equity indices were a sea of red in every region, as the new US tariffs aimed at China reignited concerns that the situation could escalate into [..]

US Open Preview – Dollar holds weak ahead of Trump’s Chinese tariffs; BoE decides on interest rates

Posted on March 22, 2018 at 11:52 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index was falling by 0.03% against a basket of major currencies during early European afternoon and dollar/yen remained under pressure, losing 0.39%. The fall in the dollar came in after the Fed raised interest rates, as was widely anticipated, but stayed on course for three rate hikes this year, disappointing those who hoped for the famous dot plot to signal four rises for 2018. The euro managed to hit a one-week high of 1.2387 early on [..]

European Open Preview – Dollar extends declines as FOMC sticks to 3 hikes; BoE and US tariffs decision in focus

Posted on March 22, 2018 at 8:49 am GMT

Here are the latest developments in global markets: FOREX: The dollar extended its declines from yesterday on Thursday, touching its lowest in nearly two weeks versus a basket of currencies. FOMC policymakers’ decision to continue signaling three hikes in total for 2018 was seen as the catalyst behind the US currency’s decline. STOCKS: US markets closed a little lower yesterday in the aftermath of the Fed decision, as the upward revision in the rate projections for 2019 and 2020 raised [..]

US Open Preview – Dollar on the backfoot ahead of Fed rate decision

Posted on March 21, 2018 at 12:44 pm GMT

Here are the latest developments in global markets: FOREX: Dollar/yen was falling by 0.18% and the dollar index was also under pressure, losing 0.25% at the time of writing as investors were preparing their positions ahead of the Fed interest rate announcement later in the day. While the dollar was struggling to gain ground, the euro managed to recover some losses, with euro/dollar moving higher towards 1.2278 (+0.23%). Pound/dollar touched an intraday high of 1.4074 before it slipped to 1.4043 (+0.34%) after [..]

European Open Preview – Dollar eases ahead of Fed meeting

Posted on March 21, 2018 at 8:50 am GMT

Here are the latest developments in global markets: FOREX: The dollar traded down by less than 0.2% against a basket of currencies on Wednesday, though it held most of the gains made yesterday which saw it rise to a three-week high. STOCKS: US markets closed in the green on Tuesday, recovering some of their losses from earlier this week. The Dow Jones led the way higher, gaining nearly 0.5%, while the Nasdaq Composite and the S&P 500 rose by 0.3% and [..]

US Open Preview – Dollar on the rise as FOMC gathers; European stocks step lower

Posted on March 20, 2018 at 12:30 pm GMT

Here are the latest developments in global markets: FOREX: The US dollar traded higher today, reversing some of its losses in the previous days as investors were preparing their positions ahead of Wednesday’s Federal Reserve rate decision, where expectations are for the FOMC board members to raise interest rates for the first time this year. Dollar/yen rose towards 106.52 (+0.35%) after touching a session low of 106.00 earlier today and the US dollar index edged higher by 0.35%, breaking slightly above the 90.00 [..]

European Open Preview – Euro, sterling build on gains versus the greenback; UK inflation and US-Saudi meeting eyed

Posted on March 20, 2018 at 8:53 am GMT

Here are the latest developments in global markets: FOREX: The dollar edged higher versus a basket of currencies on Tuesday after retreating against the euro and sterling on Monday. The yen was losing considerable ground relative to other major currencies, while the antipodeans were trading not far above recent lows against the greenback. STOCKS: US markets closed significantly lower yesterday, dragged down primarily by technology stocks, as a scandal involving Facebook raised speculation that tech firms may see increased regulation [..]

US Open Preview – Euro, pound post strong rally; European equities open lower

Posted on March 19, 2018 at 1:00 pm GMT

Here are the latest developments in global markets: FOREX: The US dollar index outperformed on the day against a basket of currencies, falling to 89.97 (-0.22%) as the euro and the pound strengthened. Dollar/yen was gaining positive momentum in the face of uncertainties surrounding the Japanese finance minister and ahead of the FOMC rate decision on Wednesday, with the pair climbing to 106.30 (+0.21%). Euro/dollar recouped Friday’s losses rallying to 1.2324 (+0.13%) after Reuters sources reported that the ECB has shifted focus from [..]

Technical Analysis – Gold remains bearish as recent bounce runs out of steam

Posted on March 19, 2018 at 9:12 am GMT

Gold has been underperforming in the past three days, breaking back below the key level of 1312.50. When looking at the bigger picture the precious metal lacks a clear trend, while in the short-term, technical indicators support a bearish structure. In the 4-hour chart, momentum indicators are pointing to a negative bias with the RSI indicator approaching the 30 level and the oversold zone. Moreover, stochastics are heading downwards to reach oversold levels, with the bearish cross between the %K the %D line suggesting [..]

European Open Preview – Japanese politics boost the yen; G20 gathering kicks off busy week

Posted on March 19, 2018 at 8:56 am GMT

Here are the latest developments in global markets: FOREX: The US currency traded less than 0.1% higher versus a basket of currencies on Monday, though it was losing ground versus the yen as those promoting weaker-yen policies were seen as losing public support in Japan. STOCKS: US markets closed mostly higher on Friday, with the Dow Jones and the S&P 500 advancing by 0.3% and 0.2% respectively, while the Nasdaq Composite was practically flat on the day. Futures tracking the Dow, [..]

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