gold

Forex Market Review (Asian Session) – Dollar faces headwinds after FOMC minutes; euro rises as Rajoy sets deadline for Puigdemont

Posted on October 12, 2017 at 8:08 am GMT

The dollar was mostly in the red against its major counterparts during the Asian session after the FOMC meeting minutes released on Wednesday indicated that Fed policymakers had doubts on the inflation path. In contrast, the euro was on track to post gains for the fifth straight day as Catalonia’s questioned status of independence is likely to clear out next week. On late Wednesday, the minutes of the Fed’s September meeting sounded dovish to investors’ ears as the statement showed that policymakers are concerned that factors weighing on inflation [..]

Forex Market Review (European session) – Dollar dives ahead of Fed meeting minutes; euro rallies as Catalonia-related risk eases

Posted on October 11, 2017 at 3:30 pm GMT

The dollar was the worst performer during the European session on Wednesday as both geopolitical risks and uncertainty over Trump’s fiscal policy dragged the currency lower against other major currencies. Comments by the Chicago Fed President, Charles Evans, and disappointing readings on JOLTS job openings added further losses to the greenback. On the other hand, the euro was performing the best as the absence of a formal Catalan independence declaration relieved markets which feared possible negative political implications. The Spanish government, though, accused the Catalan leader of causing confusion with his actions. With the North Korean story [..]

Forex Market Review (Asian Session) – Euro holds strong as Puigdemont delays Catalonia’s independence; dollar heavy amid concerns on tax legislation

Posted on October 11, 2017 at 7:49 am GMT

The Asian session was relatively quiet on Wednesday as economic releases were limited. Following a stressful day in Spain, where Catalonia’s independence was put on hold, the euro remained strong above the 1.18-key level overnight, while the dollar was under pressure against its peers amid escalating geopolitical risks and fears of tax overhaul failing to turn into law. While thousands of people and armed police forces were gathered in front of the Catalan parliament ready to counteract a possible “Yes vote” on Catalonia’s separation [..]

Forex Market Review (European session) – Dollar extends losses as North Korea story gets complicated; euro strengthens ahead of Catalonia’s possible independence declaration

Posted on October 10, 2017 at 4:02 pm GMT

The dollar tumbled to just a shade above the 93 key-level against a basket of major currencies in the wake of news that North Korean hackers had stolen military documents from the South Korean defence ministry in September 2016, including South Korean/US war plans which involved to some part the formation of a military unit to eliminate the North Korean leader, Kim Jong Un. Moreover, speculation over North Korea launching a long-range missile test over the coming days also weighed on the greenback. [..]

Forex Market Review (Asian Session) – Euro moves higher as Puigdemnont heads to Parliament; aussie rallies on improved business conditions

Posted on October 10, 2017 at 8:08 am GMT

With Japanese and South Korean markets returning from holidays, the dollar failed to gain ground against its rivals as investors continued pricing geopolitical tensions between the US and North Korea. On the other hand, the euro and the aussie were in an uptrend as economic conditions in the regions showed signs of improvement. The greenback was trading 0.18% lower against its major rivals at 93.54 with markets being cautious whether North Korea will conduct another missile test over the next days, challenging the US [..]

Stock Market News (European Open) – Equity markets shrug off N. Korean story; DAX hits fresh record-high

Posted on October 9, 2017 at 9:42 am GMT

Out of Asia, Hong Kong’s Hang Seng lost 0.5%. The Shanghai Composite added 0.8% after being closed for holidays the previous week, and Australia’s S&P/ASX 200 gained 0.5%. Japanese and South Korean markets were shut for holidays. Concerns over tensions in the Korean peninsula might had resurfaced after comments by US President Donald Trump and reports North Korea might be preparing a long-range missile test that could have the capacity to reach the west coast of the US, however equity [..]

Technical Analysis – Gold’s decline stalls but bearish outlook remains below 1300

Posted on October 9, 2017 at 9:20 am GMT

Gold prices are testing the key 1280 level but it appears unlikely that gains can be sustained above it. The recent bounce higher may be short-lived as the RSI on the 4-hour chart is turning back down, indicating a loss of upside momentum. Gold’s rise above the 50-period moving average helped ease downside pressure. But it remains to be seen whether the current move is merely a pause in the downtrend that has been taking place since the September 8 high of [..]

Forex Market Review (Asian Session) – Dollar holds weak amid fresh threats from North Korean peninsula; pound strengthens ahead of May’s speech

Posted on October 9, 2017 at 8:27 am GMT

On Monday, the dollar could not recover from Friday’s losses as North Korean tensions came back to the spotlight and as liquidity was limited during the session with South Korea, Japan, and China being closed for holidays, while US markets will be partially shut for Columbus Day. Although the report on US nonfarm payrolls released on Friday raised hopes for a third hike in December as wage growth picked up unexpectedly and the unemployment rate retreated further, renewed US-North Korea tensions gave a breather to the [..]

Forex Market Review (European Session) – Nonfarm payrolls turn negative but wages feed dollar bulls; oil gives up gains on Tropical Storm Nate

Posted on October 6, 2017 at 3:28 pm GMT

According to the widely-expected nonfarm payrolls report, 1.5mn people stayed out of work due to dangerous weather conditions in September, dampening the number of jobs added to the economy. This, however, was not the biggest surprise, as investors had been warned about the negative consequences arising from the devastating hurricanes. What was instead a more unexpected fact, was the upside change in wage growth which consequently pushed the dollar to fresh highs and boosted confidence in the US economy. In [..]

Forex Market Review (Asian Session) – Dollar rallies as US tax reforms head to Senate; pound tumbles to one-month low

Posted on October 6, 2017 at 7:58 am GMT

A stream of upbeat US economic data, as well as the approval of the 2018 fiscal budget in the US on Thursday, boosted the dollar to a 7-week high on Friday ahead of the widely expected nonfarm payrolls due later today. Meanwhile, the pound stretched its downtrend as concerns over May’s leadership continued to weigh on the currency. Late on Thursday, the Republican-led US House of Representatives gave the green light to the 2018 fiscal spending to set the stage for a tax overhaul which is expected [..]

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