gold

European Open Preview – Dollar losing streak continues; UK employment and wage growth data due

Posted on January 24, 2018 at 8:50 am GMT

Here are the latest developments in global markets: FOREX: The dollar index traded nearly 0.2% lower on Wednesday, extending the losses it posted yesterday amid concerns of a potential escalation in trade tensions with China. STOCKS: Japanese equities corrected lower, with the Nikkei 225 and the Topix indices closing down by 0.8% and 0.5% respectively, as the latest surge in the yen took its toll on the nation’s markets. That said, both indices still stand near their corresponding 27-year highs. In [..]

US Open Preview– Yen gains ground despite dovish Kuroda; European stocks hit new highs

Posted on January 23, 2018 at 12:45 pm GMT

Here are the latest developments in global markets: FOREX: The yen posted a strong rally towards an intra-day high of 110.38 (+0.38%) per dollar during early European trading hours. This came after a decline earlier in the day when the BOJ chief, Haruhiko Kuroda, downplayed plans on stimulus reduction. Upbeat data on Eurozone’s ZEW economic sentiment offered little for the euro, with euro/dollar recovering to 1.2256 (-0.13%). Pound/dollar dipped into losses, falling to 1.3944 (-0.30%) after touching 1.4000 during the Asian session. The [..]

European Open Preview – Yen whipsaws after BoJ and aussie tumbles on trade risk as world leaders gather in Davos

Posted on January 23, 2018 at 8:41 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index traded slightly higher on Tuesday, in the aftermath of Congress voting for a temporary funding bill, thereby ending the US government’s partial shutdown. STOCKS: Equities were in the green across the board. Japanese markets skyrocketed, with the Nikkei 225 and the Topix closing higher by 1.3% and 1.0% respectively; both indices reached fresh 27-year highs. In Hong Kong, the Hang Seng surged by 1.35%, breaking another all-time high, [..]

US Open Preview– Dollar pressured as government shutdown weighs; European stocks flat

Posted on January 22, 2018 at 12:43 pm GMT

Here are the latest developments in global markets: FOREX: The dollar remained under pressure against its major counterparts during the European afternoon as the government shutdown on Friday limited any buying interest for the currency, driving the dollar index down to 90.43 (-0.13%). Dollar/yen edged down to 110.68 after attempting to break above the 111 key-level, with the focus being on the BOJ’s policy decision on Tuesday. Euro/dollar reversed earlier losses, rising to 1.2253 (+0.27%) as political concerns in Germany faded, while pound/dollar managed to crawl back to [..]

Technical Analysis – Gold makes corrective move lower after challenging new 4-month high

Posted on January 22, 2018 at 10:41 am GMT

Gold moved lower over the previous week following the pullback from the 4-month high of 1344. The price snapped the five weekly winning sessions and posted a negative week as it lost momentum. 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 slightly to the upside near the 50 level, whilst the MACD oscillator lost its momentum and is flattening near the zero line. Moreover, the 40-simple [..]

European Open Preview – Markets largely unfazed by US government shutdown; German politics in focus

Posted on January 22, 2018 at 8:47 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index opened with a small negative gap on Monday after news that the US government shut down on Friday, but managed to recover its losses to trade marginally higher in the following hours. STOCKS: Japanese markets were in the green today, albeit not by much. The Nikkei 225 and the Topix indices closed up by 0.03% and 0.1% respectively. In Hong Kong, the Hang Seng is 0.4% higher, rising to a [..]

US Open Preview – Dollar index holds losses on funding bill uncertainty; European stocks hit fresh highs

Posted on January 19, 2018 at 12:43 pm GMT

Here are the latest developments in global markets: FOREX: The dollar index remained pressured near three-year lows, at 90.34 (-0.16%), as investors were waiting for US Senators to prevent a potential government shutdown today. Traders were also pricing that the dollar might lose steam versus its peers if other central banks follow the Fed by tightening monetary policy. Dollar/yen lost 0.38%, retreating to an intra-day low of 110.48. Pound/dollar reversed today’s gains, edging down to 1.3873 after monthly retail sales in the UK [..]

European Open Preview – Dollar retreats again while oil pulls back from highs; UK retail sales in focus

Posted on January 19, 2018 at 8:49 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index was marginally lower on Friday, after also trading lower yesterday, even though yields on longer-term US Treasuries were on the rise. STOCKS: Asian markets were in a sea of green today. Japan’s Nikkei 225 and Topix indices were up by 0.2% and 0.7% respectively, both hovering near multi-decade highs. In Hong Kong, the Hang Seng index was up 0.1% – touching its highest on record – while in [..]

US Open Preview– Dollar weakens ahead of US house data; European stocks strengthen

Posted on January 18, 2018 at 12:26 pm GMT

Here are the latest developments in global markets: FOREX: The dollar index deviated below one-week highs reached earlier in the Asia session, edging down to 90.62 (+0.10%). Higher US Treasury yields and hopes on corporate tax repatriations contributed positively to the index’s performance earlier. Dollar/yen was flat at 111.24 (-0.03%) and dollar/swissie tumbled to 0.9592 (-0.64%). Euro/dollar stretched its uptrend to 1.2236 (+0.42%) and pound/dollar rose to 1.3874 (+0.36%), potentially due to the positive sentiment related to Brexit developments. Aussie/dollar [..]

Technical Analysis – Gold retreats after hitting 4-month high; reinforces long-term bearish structure

Posted on January 18, 2018 at 10:28 am GMT

Gold reached a more than a four-month high of 1344 during the past week, after an aggressive bullish rally from the 1236 support level. However, over the last two daily sessions, the price bounced off on the aforementioned resistance obstacle and posted a bearish move. The short-term technicals seem to be negative and point to more weakness in the market. Having a look at the short-term chart, the RSI indicator plunged below the overbought area, whilst the MACD oscillator is ready to create [..]

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