gold

Forex Market Review (Asian Session) – Pound slides as UK parliament votes on Brexit bill; aussie bounces on business confidence

Posted on November 14, 2017 at 8:56 am GMT

Ahead of a busy day in terms of economic data out of the UK, the US and the Eurozone, the pound moved lower as doubts over May’s leadership continued weighing on the currency, while markets were also cautious whether British lawmakers would approve the government’s Brexit bill. The aussie was the biggest winner of the session, gaining on business confidence despite disappointing figures out of China pressuring the currency. With the UK Prime Minister Theresa May facing increasing political challenges following a report published by the Sunday Times newspaper and stating that [..]

Forex Market Review (European Session) – Sterling performs worst among majors on added cloud of uncertainty; dollar higher

Posted on November 13, 2017 at 3:37 pm GMT

In the absence of major economic releases during today’s European session trading, forex markets were focused on upcoming data, a central banking conference set to take place tomorrow and developments on the political front, in particular Brexit and the US tax reform. Sterling was the worst performing major currency. The dollar’s index against a basket of currencies was 0.1% higher at 1520 GMT. On Friday, it hit 94.26, its lowest since October 26 as developments on the US tax front [..]

Technical Analysis – Gold remains in 1-month range; short-term bearish outlook unchanged

Posted on November 13, 2017 at 10:43 am GMT

Gold has been maintaining a neutral bias for just over a month now after entering a consolidation phase. The downtrend from a multi-month high at 1357.47 has not shown signs of reversal yet as the market remains well below the mid-point of this decline to 1260.59. Prices are currently trapped below the 23.6% Fibonacci retracement level at 1283.39. This resistance level needs to be breached to see a move towards the key 1300.00 level. But only a rise above the [..]

Forex Market Review (Asian Session) – Pound down as May faces political noise; dollar rebounds but tax uncertainties weigh

Posted on November 13, 2017 at 8:45 am GMT

Forex markets were relatively quiet on Monday as economic releases were limited. However, political challenges in the UK during the weekend, pressured the pound, while the dollar managed to gain ground as investors were widely expecting a third Fed rate hike despite continuing uncertainties around the US tax overhaul lingering in the background. An article published in the Sunday Times over the weekend reported that forty parliament members from the Conservative Party agreed to sign a letter expressing their reluctance on Prime Minister Theresa May’s leadership -eight more members would be [..]

Forex Market Review (European Session) –Dollar drifts lower; pound heads up as Barnier sets a deadline on divorce bill

Posted on November 10, 2017 at 4:00 pm GMT

The dollar was on track to finish the week in the red against its major counterparts after three weeks of rising as uncertainties around the US tax overhaul continued weighing on the markets and disappointing readings on the Michigan Consumer sentiment also pressured the dollar. On the other hand, the pound was the biggest winner during the European session as Brexit talks did not conclude bitterly, with the EU Brexit negotiator setting a deadline for the UK to clarify its financial obligations, while upbeat industrial [..]

Forex Market Review (Asian Session) – Dollar weakens as Senate delays tax-cuts; aussie slips after RBA cuts inflation forecasts

Posted on November 10, 2017 at 8:53 am GMT

US tax legislation was the main headline during today’s Asian session after the US Senate flagged a delay in corporate tax cuts on Thursday, pushing the dollar lower against its counterparts. Meanwhile, the aussie posted moderate losses after the RBA downgraded its forecasts on inflation. While the US President continues his trip in Asia, his team back in the US faces increasing obstacles to turn the promised massive tax cuts – that could be Trump’s first major legislative achievement since he took the presidential role in January – into law. Late on Thursday, [..]

Forex Market Review (European Session) – Tax reform uncertainty continues weighing on the dollar; Brexit talks resume

Posted on November 9, 2017 at 3:44 pm GMT

In another mostly quiet day in terms of data releases, forex market participants’ attention remained firmly on the US tax reform front. Jobless claims and wholesale inventory data out of the US did generate some interest, though market reaction following the releases was subdued. Meanwhile, Brexit negotiations are resuming today. At 1526 GMT the dollar index traded 0.25% down on the day at 94.63. Once again, the prospect of a delay in the delivery of tax cuts or reforms offering [..]

Forex Market Review (Asian Session) – Kiwi rallies as RBNZ signals faster inflation; aussie climbs on Chinese inflation

Posted on November 9, 2017 at 8:33 am GMT

The kiwi recorded a strong rebound on late Wednesday, flying to a two-week high after the RBNZ left rates unchanged but raised expectations that future hikes might emerge earlier than anticipated. The aussie posted some gains early on Thursday as China, Australia’s main export partner, released stronger than projected annual CPI figures. As it was mainly expected, the RBNZ policymakers decided to keep rates steady at a record low level of 1.75%. However, what pushed the kiwi higher was a statement highlighting that [..]

Forex Market Review (European Session) – Tax reform worries hold back dollar bulls; kiwi eyed ahead of RBNZ meeting

Posted on November 8, 2017 at 3:23 pm GMT

In the absence of important data releases, the US tax story remained front and center during today’s European session trading. Housing data out of Canada did gather some attention. The Energy Information Administration’s (EIA) weekly report out of the US, which is due later in the day, has the capacity to generate some movement in oil prices. The dollar’s index against a basket of currencies was down by 0.1% at 1503 GMT with the US currency’s advance being halted over [..]

Forex Market Review (Asian Session) – Dollar weaker on possible tax cut delay; kiwi steady ahead of RBNZ meeting

Posted on November 8, 2017 at 8:55 am GMT

The dollar opened weaker in Asia as traders were concerned about a potential delay in the implementation of a corporate tax cut, while they also turned cautious on US-North Korea political developments after Trump delivered a warning message to North Korea. The kiwi stood flat ahead of the RBNZ policy meeting starting later today. A report by the Washington Post on Tuesday raised questions about the progress of the US tax legislation and hence pressured the dollar. The relevant article stated that Senate Republicans were considering a [..]

Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. XM accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The research and analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests and to disregard any conflicts of interest in providing our services.

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losing all of your invested capital, so please make sure that you fully understand the risks involved.

How can we help?

Live Chat Terms