gold

European Open Preview – Dollar subdued as US equities hit new highs; US jobs report dominates attention

Posted on January 5, 2018 at 8:44 am GMT

Here are the latest developments in global markets: FOREX: The dollar index traded 0.1% higher during the Asian trading session Friday, after posting notable losses on Thursday. STOCKS: The three major US equity indices – Dow Jones, S&P 500, and Nasdaq Composite – closed at fresh records again yesterday, with the Dow finishing above the 25,000 milestone for the first time. Futures tracking the Dow, S&P, and Nasdaq 100 are currently in the green as well. This positive sentiment rolled over [..]

Technical Analysis – Gold corrects downwards; will bullish run resume?

Posted on January 4, 2018 at 12:38 pm GMT

Gold had edged lower since Wednesday’s trading session as the recovery of the greenback caused the sell-off of the metal. The price had posted an aggressive bullish run during the previous three weeks following the rebound on the 1236 support level, which overlaps with the ascending trend line taken from the low of December 15, 2016. The precious metal recorded a new 16-week high at 1321.28 yesterday. As long as the price continues to trade above the uptrend line, the likelihood for the [..]

US Open Preview– Eurozone data push euro and stocks higher; ADP employment report in focus

Posted on January 4, 2018 at 12:25 pm GMT

Here are the latest developments in global markets: FOREX: Upbeat data on December’s composite PMI for the Eurozone published on Thursday lifted euro/dollar towards 1.2052 (+0.32%), reversing most of yesterday’s losses as the figures suggested a faster Q4 growth for the region. Pound/dollar also gained from better-than-expected survey data, rising to 1.3554 (+0.24%). The dollar, on the other hand, was in the backfoot against six major currencies at 91.95 (-0.23%) unable to gain further from Wednesday’s economic numbers and Fed meeting [..]

Special Report – Commodities end 2017 on strong note; set for a comeback in 2018

Posted on January 4, 2018 at 10:38 am GMT

Commodity prices had a mixed start to 2017, with the S&P Goldman Sachs Commodity Index (S&P GSCI) falling by 15% at its low point in June, driven down mainly by the decline in oil prices. However, as the OPEC-led output restrictions started to bite, crude oil prices turned higher, with a strong performance in the fourth quarter. Industrial metals also had an impressive run in 2017, particularly copper and aluminium. Going into 2018, most investors are bullish about commodities, especially [..]

European Open Preview – Greenback regains some composure while US stock indices close at records; US ADP employment due

Posted on January 4, 2018 at 8:43 am GMT

Here are the latest developments in global markets: FOREX: The US dollar traded 0.1% lower against a basket of major currencies during the Asian trading session Thursday, after posting gains on Wednesday. STOCKS: All three major US equity indices (Dow Jones, S&P 500, Nasdaq Composite) closed at fresh record highs yesterday, buoyed by optimism around the US economy following strong data releases and a cheerful tone in the FOMC minutes. Futures tracking the Dow, S&P and Nasdaq 100 are currently [..]

US Open Preview – Euro loses ground but remains above $1.20; FOMC minutes awaited

Posted on January 3, 2018 at 12:09 pm GMT

Here are the latest developments in global markets: FOREX: The dollar posted some gains to climb further above a 3½-month low versus a basket of currencies hit on Tuesday. The euro eased versus the greenback despite the release of positive jobs data out of Germany, while pound/dollar lost some ground following the release of construction PMI figures that came in below analysts’ expectations; the pair previously crossed above the 1.36 handle to record its highest since late September. STOCKS: European [..]

European Open Preview – Dollar slightly above 3½-month lows ahead of Fed minutes; sterling flirts with $1.36

Posted on January 3, 2018 at 8:38 am GMT

Here are the latest developments in global markets: FOREX: The dollar traded slightly higher versus a basket of currencies after yesterday reaching its lowest since late September. The euro retreated a bit versus the dollar after trading around three-year high levels on Tuesday. STOCKS: Hong Kong’s Hang Seng was 0.1% higher, trading at its highest in a decade. Other major Asian indices were in the green, while Japanese markets were closed for a holiday. Euro Stoxx 50 futures were up [..]

US Open Preview– Dollar on the backfoot; Auto shares drag European stocks lower

Posted on January 2, 2018 at 12:17 pm GMT

Here are the latest developments in global markets: FOREX: The dollar was the worst performer among its major peers during early European trading hours as optimism on the Eurozone’s economic outlook and doubts over the effect of the US tax overhaul pushed the dollar index down to a three-month low of 91.75 (-0.29%). Euro/dollar approached a four-month peak at 1.2084 (+0.47%) and dollar/yen tumbled to 112.16 (-0.41%). Pound/dollar held strong above 1.35 (+0.30%) despite disappointing data on Markit UK manufacturing [..]

European Open Preview– Dollar continues to tumble as commodities extend gains; Manufacturing PMIs in focus

Posted on January 2, 2018 at 8:59 am GMT

Here are the latest developments in global markets: FOREX: The dollar traded lower against a basket of major currencies, with the dollar index touching a 3-month low. STOCKS: Asian markets started the year on a strong footing, with Hong Kong’s Hang Seng being up nearly 1.9%, while China’s CSI 300 was 1.40% higher, possibly boosted by the better-than-expected Chinese Caixin manufacturing PMI for December released earlier. In Japan, equity markets (Nikkei 225, Topix) will remain closed until Thursday. At 0732 [..]

US Open Preview– Dollar index tumbles to 3-month low; FTSE at fresh record highs

Posted on December 29, 2017 at 11:22 am GMT

Here are the latest developments in global markets: FOREX: The dollar index stretched its downtrend toward a fresh three-month low of 92.34 (-0.26%) as investors stood less confident on the outlook of the US economy, while gains in the euro and the pound pressured the index even further. Euro/dollar hit a three-month high of 1.1986 (+0.33%) and pound/dollar (+0.41%) surged to a three-week high of 1.3511. The kiwi, the aussie and the loonie drifted higher relative to the greenback to levels last seen in October. STOCKS: [..]

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