gold

US Open Preview– Dollar stretches losses ahead of Fed meeting; Trump’s State of Union speech in focus

Posted on January 30, 2018 at 12:09 pm GMT

Here are the latest developments in global markets: FOREX: The euro erased earlier losses against the dollar, bouncing up to an intra-day high of $1.2423 (+0.22%) after Eurostat revised upwards GDP growth readings for the third quarter. Sterling managed to rebound to $1.4111 (+0.38%) after reaching a one-week low at 1.3979 during the Asian session. On the other hand, the dollar, stretched its downleg towards 108.52 versus the yen (-0.31%) and reversed yesterday’s gains against a basket of major currencies, [..]

European Open Preview – US dollar rebounds as stocks sell off; flash Eurozone GDP on tap

Posted on January 30, 2018 at 8:31 am GMT

Here are the latest developments in global markets: FOREX: The US dollar continued to stage a recovery during Tuesday’sAsian session against most majors with the exception of the yen. The latter currency was bid as it performed its traditional role of safe-haven. The dollar index was around 1% higher from its 3-year low hit on Thursday. Rising bond yields were said to bolster the greenback. STOCKS: Stocks were correcting following their stellar run of the previous weeks. The Dow closed two-thirds of [..]

Technical Analysis – Gold creates bearish correction; next level to watch 23.6% Fibonacci mark

Posted on January 29, 2018 at 2:59 pm GMT

Gold is moving lower over the last hours following the strong pullback from the 4-month high of 1366. The price headed south and is challenging the short-term ascending trend line, which has been holding since December 12, near 1345 support level. The short-term technical indicators seem to be turning negative and point to more weakness in the market. In the 4-hour chart, the RSI indicator is pointing sharply to the downside, below the 50 level, while the MACD oscillator is falling and is [..]

US Open Preview– Pound slips as Brexit talks resume; dollar waits for PCE inflation

Posted on January 29, 2018 at 12:54 pm GMT

Here are the latest developments in global markets: FOREX: The dollar consolidated gains earned early in the day on the back of rising US bond yields which jumped to peaks last seen in 2014. The dollar index was trading at 89.60 (+0.22%) and dollar/yen was steady at 108.70 (+0.05%). Euro/dollar eased to 1.2397 (-0.19%) as German bonds yields continued to rise for the fourth day reaching two-year highs after the Dutch central bank said on Sunday that the ECB should [..]

European Open Preview – Yen gains on Kuroda’s comments; US consumption and PCE data due

Posted on January 29, 2018 at 8:46 am GMT

Here are the latest developments in global markets: FOREX: The dollar index traded marginally higher on Monday, recouping some of the losses it posted on Friday. Meanwhile, the yen remained relatively elevated after shooting up on Friday, following some remarks from BoJ Governor Kuroda. STOCKS: Asian markets were mixed. In Japan, the Nikkei 225 closed marginally lower, while the Topix was less than 0.1% higher. In Hong Kong, the Hang Seng declined 0.3%, though the index still lies very close to all-time high [..]

US Open Preview: Dollar surrenders Trump-related gains ahead of key data and speeches

Posted on January 26, 2018 at 12:25 pm GMT

Here are the latest developments in global markets: FOREX: The dollar has remained on the back foot, with the dollar index being almost 0.6% lower, giving back nearly all the gains it posted yesterday following President Trump’s comments. The biggest beneficiaries of the greenback’s weakness were the Swiss franc and the British pound, both trading 0.8% higher against the USD. The Australian dollar followed closely, with aussie/dollar up 0.7%. Dollar/loonie was down more than 0.5%, weighed on by a weaker greenback [..]

European Open Preview – Euro/dollar jumps on ECB, but stumbles after Trump; US & UK release flash GDP figures

Posted on January 26, 2018 at 9:01 am GMT

Here are the latest developments in global markets: FOREX: The dollar index traded 0.5% lower on Friday, after experiencing heightened volatility earlier on Thursday. STOCKS: Asian markets were mixed. Japan’s Nikkei 225 and Topix closed 0.2% and 0.3% lower respectively, while in Hong Kong, the Hang Seng was up by an astonishing 1.3%, reaching a fresh all-time high. In Europe, futures tracking the Euro stoxx 50 suggest the index could open 0.3% higher. In the US, the Dow Jones and the S&P [..]

US Open Preview– Euro stalls ahead of ECB policy meeting; oil hits fresh 3-year highs

Posted on January 25, 2018 at 12:38 pm GMT

Here are the latest developments in global markets: FOREX: The dollar stalled its downtrend near today’s 4 ½ -month lows versus the yen, last seen at 108.97 (-0.16%), and remained flat close to 3-year lows of 89.06 against a basket of currencies as traders continued to digest the comments made by the US Treasury Secretary who said that a weaker dollar is more attractive for trade purposes. Pound/dollar slipped to 1.4252 (+0.08%) during early European trading hours after breaking 1.4327 – [..]

European Open Preview – Sterling bulls go into overdrive; ECB meeting in focus

Posted on January 25, 2018 at 9:07 am GMT

Here are the latest developments in global markets: FOREX: The dollar index traded marginally lower on Thursday, extending the significant losses it posted on Wednesday. Meanwhile, the British pound skyrocketed, supported by strong jobs data and increasing optimism that Britain can secure a favorable Brexit deal. STOCKS: Asian markets were mostly in the red. Japan’s Nikkei 225 and Topix indices fell 1.1% and 0.9% respectively, weighed on by the risk of an escalation in US-China trade tensions and a stronger [..]

US Open Preview– Sterling shines above $1.41; New Zealand reports on inflation

Posted on January 24, 2018 at 12:37 pm GMT

Here are the latest developments in global markets: FOREX: Better than expected employment readings and growing hopes of a softer Brexit pushed pound/dollar to 1.4151 (+1.04%) during early European trading hours and led euro/pound down to a 5-week low of 0.8746 (-0.75%). Euro/dollar edged up to fresh 3-year highs at 1.2355 (+0.28%) after Eurozone’s Markit composite PMI surprisingly hit a new all-time high. On the other hand, dollar/yen extended losses towards a 4 ½-month low of 109.36 and the dollar index [..]

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