All Articles Tagged - gold

Daily Market Comment – All eyes on ECB meeting as calmer tones prevail

Posted on March 11, 2021 at 9:15 am GMT

ECB unlikely to fight the spike in yields today, may boost euro a little Tame US inflation and solid bond auction calm yields, hurt dollar Dow Jones hits new record but tech lags as infrastructure comes into view Too early for ECB to fight rising yields? The main event today will be the European Central Bank policy decision at 12:45 GMT. The ECB views the latest spike in bond yields mostly as an American story that’s spilling over into Europe [..]

US Open Note – Markets in peace after US CPI figures meet forecasts; Treasury bond auctions in focus

Posted on March 10, 2021 at 2:11 pm GMT

German DAX 30 hits fresh record high The European session was mostly quiet, with the pan STOXX 600 claiming a small measure of gains as bond yields in the region continued to sideline below this week’s highs along with US Treasury yields. Yet, despite the softer positive tone, the German DAX 30 index managed to pin a new record high slightly above the 14,500 mark on the back of healthcare and real estate shares, which soared by 2.19% and 1.20% [..]

Technical Analysis – Gold stands marginally above 1,700

Posted on March 10, 2021 at 9:27 am GMT

Gold prices are struggling to gain positive momentum after its fast rebound stalled around the 40-period simple moving average (SMA) in the 4-hour chart. The downside reversal in the RSI and the slowdown in the Stochastics justify the diminishing buying pressure, though both remain above their neutral thresholds, keeping the short-term risk skewed to the upside. However, the bullish move that pushed prices above the 20- and 40-period SMAs signals an improving structure. Should selling forces strengthen, the 20-period SMA around 1,700 could come under the [..]

Daily Market Comment – Receding yields drive markets into euphoria, BoC meets

Posted on March 10, 2021 at 9:24 am GMT

Bond yields cool down, setting off massive rebound in tech stocks Dollar retreats a touch ahead of US inflation data and key bond auction Bank of Canada meets as well – dovish signals could bruise the loonie Everyone is trading bonds these days Global markets continue to be driven almost entirely by moves in bond yields. The week started with Wall Street panicking about rising yields, but the hysteria soon faded and euphoria made a stunning comeback yesterday as yields [..]

US Open Note – Dollar, bond yields on the retreat; Nasdaq eyes strong rebound

Posted on March 9, 2021 at 2:05 pm GMT

Riskier assets gain on dollar weakness Tuesday brought some risk-on trading back on the surface as the cooling in US Treasury yields and the slowdown in the dollar allowed risk-sensitive currencies to heal. The dollar index could not reach the 200-day simple moving average (SMA) earlier in the day, peaking slightly lower at 92.50 before easing to 92.00. Despite the weakness in the Japanese yen, dollar/yen also pulled back to seek support near 108.80 after marking another higher high at [..]

Technical Analysis – Gold could snowball past its latest 9-month low

Posted on March 8, 2021 at 9:17 am GMT

Gold’s negative tendencies are picking up again after the yellow metal found some footing around the level of 1,687, logging a nine-month low, ahead of the significant support zone of 1,660-1,682. The gold scale seems to be tilting increasingly negative, as the bearish Ichimoku lines, which have controlled the commodity from the level of 1,876, are continuing to curb improvements in the price. The falling 50- and 100-day simple moving averages (SMAs), and their recent bearish crossovers of the 200-day [..]

Daily Market Comment – Dollar surges, stocks sink after Powell lets yields run loose

Posted on March 5, 2021 at 10:05 am GMT

Powell gives no hints about possible action to stem selloff in Treasuries Dollar soars to 3-month high, shares on Wall Street tank for third straight day OPEC+ extends output cuts in surprise move, oil scales early 2020 highs Treasury yields resume rally after Powell stays course Investors hoping for fresh clues from the Fed about how it plans to ride through the storm in bond markets were left disappointed on Thursday after Chair Jerome Powell offered no new insight. Speaking [..]

US Open Note – Markets in risk-on tone; Dollar still flies

Posted on March 3, 2021 at 2:05 pm GMT

Stocks and dollar in slightly positive tone; Fed announces Beige Book The market seems to be calmer today. European equities are holding onto gains, while US futures indicate a positive open. The US dollar index jumped to a one-month high of 91.39 yesterday, before retreating around 91.00. Dollar/yen continues the upside rally towards a fresh six-month high above 107.00. Stimulus negotiations are likely to go into overdrive this week as President Joe Biden’s $1.9 trillion Covid-19 relief bill goes to the US Senate. Also, the Fed announces its Beige Book report. Since [..]

US Open Note – Dollar’s fight back continues as bond market remains in focus

Posted on March 2, 2021 at 2:14 pm GMT

Wall Street could start the day in red; bond market in focus The futures tracking the S&P 500 and Nasdaq 100 are signaling a negative open today after their biggest advance in almost nine months, as investors cautiously monitored the bond market and progress on the next round of fiscal stimulus. Wall Street surged on Monday as bond markets calmed, while developments on Covid-19 vaccines and fiscal stimulus bolstered expectations of a swift economic recovery. The dollar gained on the back of the reflation trade. Dollar/yen [..]

Daily Market Comment – Dollar advances as stocks slip again, yields hold steady

Posted on March 2, 2021 at 10:02 am GMT

Calmer bond markets lift Wall Street, but global stocks dip on China’s bubble warning Dollar approaches one-month high as ECB, RBA and RBNZ push back on rising yields Oil prices fall for third straight day on higher supply worries, gold struggles Bubble warning pressures stocks Risk appetite waned slightly on Tuesday as the relative stability in bond markets was overshadowed by warnings of a “bubble problem in foreign financial markets” by a top Chinese financial regulator. The comments revived fears [..]

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