gold

European Open Preview – Dollar hits fresh one-month low; oil rises to highest since mid-2015

Posted on December 29, 2017 at 8:33 am GMT

Here are the latest developments in global markets: FOREX: The dollar traded marginally lower against a basket of major currencies, touching its lowest level since late November. STOCKS: Japan’s Nikkei 225 closed lower, albeit by less than 0.1%, while Hong Kong’s Hang Seng was up by nearly 0.3%. Futures tracking the Euro Stoxx 50 were up 0.2%, while those tracking the Dow Jones, S&P 500 and Nasdaq were all higher by roughly 0.1%. The Dow yesterday finished at an all-time [..]

Technical Analysis – Outlook 2018: Gold stands in a symmetrical triangle with short-term bullish tendency

Posted on December 29, 2017 at 7:39 am GMT

Gold has been developing within a symmetrical triangle over the past two years as it failed to post a higher top from 1375 on June 2016. The price failed to extend its gains above the aforementioned level and has been creating a continuation pattern, indicating a breakdown as the previous tendency was a descending move. In case of a drop below the 1204 strong support obstacle, could open the way for the 1123 level. However, if the price continues to move slightly to the upside, [..]

Technical Analysis – Gold continues to rise, reaching new monthly high

Posted on December 29, 2017 at 7:08 am GMT

Gold rose to a new one-month high after extending a rally that started from the 1240 area on December 12. The bullish bias is strong in the short term but in the bigger picture, the precious metal remains in a range, essentially between key psychological levels of 1200 and 1300. Risk is clearly tilted to the upside in the near term and the next target is 1300, which is seen to be a strong resistance level. It would likely be [..]

US Open Preview – Dollar broadly under pressure ahead of jobless claims numbers

Posted on December 28, 2017 at 11:45 am GMT

Here are the latest developments in global markets: FOREX: The US currency remained broadly weaker versus other major currencies in thin trading ahead of New Year celebrations. Commodity currencies maintained their positive momentum as oil and other metals remained on the rise. STOCKS: Major European blue-chip indices were not much changed around midday. The pan-European Stoxx 600 was roughly flat, with basic materials outperforming on the back of rising commodity prices and technology once again coming under pressure; tech stocks [..]

European Open Preview – Dollar broadly down as long-term yields decline; US data in focus

Posted on December 28, 2017 at 8:27 am GMT

Here are the latest developments in global markets: FOREX: The dollar’s index against a basket of currencies headed lower, touching its lowest in nearly a month, as the greenback was hurt by falling long-term Treasury yields. STOCKS: The Japanese Nikkei 225 lost 0.6% and Hong Kong’s Hang Seng was up by 0.7%. Euro Stoxx 50 futures traded down by 0.1% at 0731 GMT, while Dow, S&P 500 and Nasdaq 100 contracts were all up by around 0.1%. COMMODITIES: WTI and [..]

US Open Preview– Commodity currencies strengthen; dollar weakens ahead of data

Posted on December 27, 2017 at 11:54 am GMT

Here are the latest developments in global markets: FOREX: A strong rally in metal and oil prices on Tuesday continued to support the loonie, the aussie and the kiwi against the dollar during early European trading hours on Wednesday. The aussie and the kiwi hit fresh two-month highs at $0.7768 (+0.53%) and $0.7073 (0.50%) respectively, while dollar/loonie extended its downleg towards a three-week low at 1.2650 (-0.30%). The euro rose to an intra-day high of $1.1890 (0.25%) and the pound reached a one-week high of $1.3413 (+0.25%). [..]

European Open Preview – Dollar hits 3-week low as commodity currencies gain ground

Posted on December 27, 2017 at 8:31 am GMT

Here are the latest developments in global markets: FOREX: The dollar index continued retreating, recording a three-week low. Meanwhile, commodity currencies, including the loonie, aussie and the kiwi, were posting multi-week highs versus the greenback. STOCKS: The Nikkei 225 closed 0.1% higher. The Hang Seng was down by 0.1%, while the Shanghai Composite lost 0.9%. Euro Stoxx 50 futures traded higher by 0.1% at 0728 GMT, with Dow, S&P 500 and Nasdaq 100 contracts all being roughly flat. COMMODITIES: WTI [..]

European Open Preview – Catalan vote pressures euro; US core PCE awaited

Posted on December 22, 2017 at 8:48 am GMT

Here are the latest developments in global markets: FOREX: The dollar traded slightly higher versus a basket of currencies and further above a two-week low hit earlier in the week. Despite this, it was still on track to record a weekly loss. The euro was down, though it recovered to a significant extent earlier losses after the results from Catalonia’s regional elections showed a victory for pro-independence forces. STOCKS: The Japanese Nikkei 225 and Topix indices finished the day higher [..]

US Open Preview– Euro flat ahead of Catalonia’s vote; European stocks weaker

Posted on December 21, 2017 at 11:46 am GMT

Here are the latest developments in global markets: FOREX: Major currencies were range-bound during the early European session, with the euro being not much stressed ahead of a regional election in Catalonia. Euro/dollar changed hands at 1.1880 around 1000 GMT (+0.09%), while euro/yen edged up to a two-year high of 134.86 (+0. 12%).The dollar was flat versus the yen and the loonie at 113.44 and 1.2829 respectively as the passage of the US tax legislation was already highly priced in [..]

European Open Preview – Dollar gains versus yen on rising yields and dovish BoJ; Canadian CPI eyed

Posted on December 21, 2017 at 8:42 am GMT

Here are the latest developments in global markets: FOREX: The dollar edged slightly higher versus a basket of currencies but was still trading not far above a two-week low hit yesterday. The US currency continued gaining versus the yen, being supported by rising Treasury yields. STOCKS: The Nikkei 225 closed down by 0.1% and the Topix added 0.1% to renew its 26-year high. The Hang Seng was up by 0.5%. Euro Stoxx 50 futures were marginally lower at 0726 GMT, [..]

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