All Articles Tagged - gold

Volatility drops across the board after the Fed meeting – Volatility Watch

Posted on September 24, 2024 at 10:47 am GMT

Euro/dollar volatility remains low as dollar underperforms Volatility in commodities stays elevated, led by gold Stock indices experience decent volatility despite the rally Euro/dollar volatility has eased a bit over the past week, as the market digested the strong Fed rate cut. Similarly, volatility of most yen crosses has dropped aggressively lower, as the yen surrendered part of its recent sizeable gains, despite the fact that the BoJ maintained the chances of another rate hike in 2024. Volatility in the commodities’ space remains elevated [..]

Daily Comment – China’s stimulus blitz supports positive equities sentiment

Posted on September 24, 2024 at 7:49 am GMT

Dollar tries to recover as Fedspeak favors further cuts China announces new measures, positive initial market reaction Aussie benefits from another hawkish RBA meeting Gold, oil and pound rallies continue Debate for the next Fed cut intensifies US stocks remain in a positive mood as Fed speakers continue to advocate for further rate cuts, despite the fact that the US data confirm the strength of the US economy. Although the first Fed rate cut was almost unanimously approved, there seems to [..]

Daily Comment – Euro sinks on poor PMIs, dollar firms ahead of Fedspeak

Posted on September 23, 2024 at 9:02 am GMT

Eurozone PMIs dip into contraction zone, euro takes a dive Stocks mixed as weak PMIs offset optimism about China stimulus Dollar edges up as after Waller comments; Powell and PCE inflation eyed next Euro tumbles as recession fears return Eurozone business activity unexpectedly contracted in September according to the flash PMI estimates for September, sparking fresh concerns about the health of the economy. The S&P Global composite PMI fell to 48.9 in September from 51.0 in August, as German manufacturing [..]

Technical Analysis – Gold near a peak, but uptrend might stay solid

Posted on September 23, 2024 at 8:11 am GMT

Gold charts a new record high after two-week rally Technical picture signals a temporary slowdown Gold hit a new milestone early on Monday, unlocking a fresh record high of 2,631 following two consecutive impressive weeks in uncharted territory, which boosted the price by 5%. The precious metal is sailing in overbought waters according to the RSI and the stochastic oscillator, and with the price hanging around the upper Bollinger band and the upper band of an upward-sloping channel, the risk of a [..]

Stocks’ positive reaction might continue until the second Fed rate cut – Special Report

Posted on September 20, 2024 at 10:02 am GMT

The Fed announced its first rate cut with a relatively balanced rhetoric History points to a high probability of back-to-back moves Dollar/yen and Treasury yields tend to drop until the second rate cut Barring a major event, stocks’ positive performance could continue The Fed commenced its monetary policy easing cycle in aggressive fashion by announcing an almost unanimous decision to cut rates by 50bps. The markets were surprised with the US dollar suffering the most. Both the accompanying policy statement [..]

Daily Comment – Markets digest Fed decision; BoE and BoJ stand pat

Posted on September 20, 2024 at 8:38 am GMT

Dollar tumbles on bets of more aggressive Fed rate cuts BoE keeps rates steady, reiterating caution about future cuts BoJ stands pat, Ueda says more rate hikes are coming S&P 500, Dow Jones and gold hit new record highs Fed outcome allows risk-on trading The dollar tumbled against all but two of its major counterparts on Thursday, with the main gainers being the risk-linked currencies, the aussie and the kiwi. The greenback gained some ground versus the safe havens, the [..]

Midweek Technical Look – Gold, US 500, GBPJPY

Posted on September 19, 2024 at 9:02 am GMT

Gold touches 2,600 after Fed decision US 500 records another all-time high; strong bullish bias today GBPJPY posts several days of gains; bearish cross within SMAs [..]

Daily Comment – Fed goes big with first rate cut; BoE takes the torch

Posted on September 19, 2024 at 8:29 am GMT

Fed lowers interest rates by 50bps New dot plot signals another 50bps cuts by December Wall Street closes in the red, futures point to higher open BoE and BoJ take the central bank torch It has begun! The Fed decided to kickstart this easing cycle with a bold 50bps rate cut, and to flag more reductions before the turn of the year. The new dot plot pointed to another 50bps worth of reductions by the end of 2024, which translates [..]

Daily Comment – Let the Fed rate cuts begin

Posted on September 18, 2024 at 8:15 am GMT

Dollar trades indecisively ahead of important Fed decision Investors assign a strong 60% chance for a 50bps cut Wall Street and gold traders also on the edge of their seats Pound rebounds on sticky UK inflation Fed to press the rate cut button The dollar rebounded against most of its major peers on Tuesday but resumed its slide early today as traders appear reluctant to assume a clear direction ahead of the very important Fed decision later today, when the [..]

Technical Analysis – Gold creates bearish correction

Posted on September 18, 2024 at 6:34 am GMT

Gold stands beneath 20-period SMA MACD and RSI lose positive momentum Gold prices have declined from the all-time high of 2,589.66 over the last couple of days, meeting the 2,560 support level and being capped by the 20-period simple moving average (SMA). According to technical oscillators, the MACD is diving beneath its trigger line in the positive territory, while the RSI is falling near the neutral threshold of 50. If there is a drop below the 2,560 support level, then [..]

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