All Articles Tagged - gold

US Open Note – Turkish lira’s shock waves under control; stocks mildly up

Posted on March 22, 2021 at 1:26 pm GMT

European banks follow Turkish lira lower, but losses under control While the inflation fear factor holds intact in key developed economies even though price indices remain anemic, high inflation has been a truly tragic story in Turkey for a while, forcing the central bank to raise interest rates by two percentage points and more than expected on Friday. Such surprising decisions from emerging markets rarely create any global shock waves, though when President Erdogan, who is a strong opponent to [..]

Technical Analysis – Gold battles with 20-day SMA; bearish outlook

Posted on March 22, 2021 at 8:02 am GMT

Gold prices have been in a descending movement over the last six-and-a-half months after the touch of the record high of 2,074.89. In the short-term, the price is battling with the 20-day simple moving average (SMA) and the Ichimoku lines. Technically, the stochastic oscillator is losing ground and is slipping from the overbought territory, while the RSI indicator is turning marginally down below the 50 level. In case of further selling interest, the precious metal could find support at the [..]

US Open Note – Dollar steady, US futures struggle and euro slips

Posted on March 19, 2021 at 1:29 pm GMT

Dollar in horizontal mode; euro below 1.19 A quiet day is on the cards, as reflected in forex and stock markets, with the US dollar moving slightly lower versus the Japanese yen below 109.00, while the dollar index is hovering above the 50- and 100-day simple moving averages (SMAs). Euro/dollar has slipped below the 1.1900 handle and is trying to break to the downside the nine-month ascending channel. Pound/dollar is moving with weak momentum while euro/pound is climbing above the [..]

Daily Market Comment – Nasdaq sinks as US yields spike, oil tumbles on demand worries

Posted on March 19, 2021 at 10:15 am GMT

Markets rattled by post-Fed jump in Treasury yields, though bond markets steadier today Dollar eases from highs, yen firms slightly on Bank of Japan’s policy tweaks Oil slumps to one-month lows on demand fears amid fresh European lockdowns Bond selloff gathers pace after Fed’s ‘green light’ Bond markets were left reeling on Friday following the selloff on Thursday in the aftermath of the Federal Reserve’s ‘lower for longer’ commitment. The yields on 10- and 30-year Treasury notes skyrocketed to fresh [..]

US Open Note – US futures slip, dollar edges up and pound eases after BoE decision

Posted on March 18, 2021 at 1:32 pm GMT

Dollar points up again; Pound eases after BoE decision Thursday brought some mild risk-on trading back on the surface after the release of the Bank of England (BoE) decision, which comes hot on the heels of the Fed’s dovish statement yesterday. The US dollar moved broadly higher as the euro/dollar fell to around 1.1925, below the 200-day SMA, while cable is declining slightly after the dovish Bank of England (BoE) decision to hold interest rates at a record low of 0.1%. Policymakers mentioned that UK GDP is anticipated recover during 2021 to achieve reach pre-coronavirus levels, [..]

US Open Note – Stocks soften, dollar flashes green, FOMC draws focus

Posted on March 17, 2021 at 2:04 pm GMT

FOMC jitters, dollar steps up, CAD inflation There seems to be a calm before the storm in markets today, with momentum somewhat having dried up in a climate of economic optimism. The FOMC nerves seem to have benched market players, despite expectations for the Fed to stick to its current course of action, now that accelerated jabs are reaching peoples arms and stimulus relief and government spending will soon start to show face in the economy. The main narrative seems [..]

Technical Analysis – Gold bulls await a fresh impetus above 1,740 to resume rally

Posted on March 17, 2021 at 10:50 am GMT

Gold bounced off 1,699 to fight the tough wall around 1,740 on the four-hour chart, which has been a crucial obstacle to upside movements since the start of the month. The sideways trajectory in the RSI and the MACD and the flattening Ichimoku lines are not in favor of any significant bullish action at the moment but are not taking the bears’ side either. Therefore, buyers will probably wait for a close above 1,740 before targeting the key 1,760 – [..]

Daily Market Comment – Bonds and dollar steady, stocks mixed ahead of Fed

Posted on March 17, 2021 at 9:42 am GMT

Fed decision awaited as 10-year Treasury yields hold above 1.60% Dollar flat, Wall Street futures slip as investors brace for Fed inaction EU’s vaccine shambles continue, euro battles to defend $1.19 level More jawboning expected as Fed to stay course Markets were in a calm mood on Wednesday, though sentiment erred on the side of caution as uncertainty around the FOMC decision kept investors on edge. The Federal Reserve is highly anticipated to hold rates and its stimulus programmes unchanged [..]

US Open Note – Dollar freezes in calm day; Vaccine rollout gets delayed

Posted on March 16, 2021 at 1:59 pm GMT

Dollar holds firm; S&P 500 flies to record high The market today is calm as investors are all waiting on the Fed tomorrow to commit to any firm moves. The FOMC is starting a two-day meeting that will end tomorrow and no change in policy is predicted, but the forward guidance for interest rates and asset purchases will be crucial. Stock futures are almost flat today and the bond market is virtually unchanged, so this looks like a market waiting for guidance from the Fed. European stocks/equities/markets are [..]

Technical Analysis – Gold rebounds off lower band of descending channel

Posted on March 15, 2021 at 9:33 am GMT

Gold is trying to regain some losses in the very short-term but remains below the 20- and 40-day simple moving averages (SMAs) in a descending channel. The market could reverse lower as the stochastic is turning lower after the pullback on the overbought zone, however, the RSI is pointing upwards in the negative territory. Should the pair stretch north, the 20-day SMA could provide immediate resistance at 1,750 ahead of the 1,764 barrier. A step higher could meet the 40-day SMA at 1,796, [..]

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