All Articles Tagged - gold

Daily Market Comment – Dollar edges up, stocks struggle after yields spike higher

Posted on August 26, 2020 at 8:51 am GMT

Market mood turns cautious amid mixed signs on the global economy Bond yields extend gains as inflation expectations rise But big drop in US consumer confidence casts doubt on recovery Stocks softer, dollar crawls higher ahead of Jackson Hole Yields creep higher: sign of economic health or trouble? Risk appetite appeared to falter on Wednesday as higher long-term borrowing costs weighed on equities, while unexpected weakness in US consumer confidence supported the safe-haven dollar and yen in currency markets. Stocks [..]

Technical Analysis – Gold lacks clear direction after meeting all-time high

Posted on August 26, 2020 at 8:32 am GMT

Gold prices have been in a declining direction after strong rally towards the all-time peak of 2,074.89, but they found strong support at the 1,911 barrier over the last two weeks. The price is trading below the simple moving averages (SMAs) and the Ichimoku in the 4-hour chart. Furthermore, the RSI is heading south in the bearish territory, however, the MACD is moving horizontally below the zero line. A strong push below the 1,911 support would drive the bears towards [..]

Daily Market Comment – Dollar eases, stocks hit record as US and China reaffirm trade truce

Posted on August 25, 2020 at 8:43 am GMT

US and China hold ‘constructive’ talks, trade deal seen intact Wall Street hits another record; global equities follow suit But dollar only mildly softer as Treasury yields pop higher Phase one trade deal safe for now Washington and Beijing have reaffirmed their commitment to the ‘phase one’ trade deal via a call late on Monday between US Trade Representative Robert Lighthizer, Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He. The talks, which were originally scheduled for August 15, [..]

Technical Analysis – Gold consolidates above 1,900, eyeing peaks again

Posted on August 24, 2020 at 10:08 am GMT

Gold is edging sideways above the 1,900 handle, possibly forming a triangle pattern with the price targeting the upper bound of the triangle around 1,970. The bullish simple moving averages (SMAs) are maintaining a broader positive tone, while the short-term oscillators are helping keep the positive outlook alive. The MACD is holding in the positive region although below its red signal line, while the RSI floats above the 50 threshold, looking to improve. Furthermore, the negative momentum in the stochastic [..]

Daily Market Comment – FOMC minutes resurrect dollar, torpedo stocks

Posted on August 20, 2020 at 8:10 am GMT

Fed backs off from yield curve control, not in a hurry to strengthen guidance Dollar comes back to life, stocks retreat from record highs, gold sinks Swiss franc crashes for no apparent reason – SNB working overtime? Today: ECB minutes and US jobless claims Dollar back in the ring to take another swing The Federal Reserve injected a dose of volatility into financial markets on Wednesday, after the minutes of the latest policy meeting revealed that policymakers are not in [..]

Technical Analysis – Gold resumes ascent, steering above the Ichimoku cloud

Posted on August 19, 2020 at 12:35 pm GMT

Gold has nudged back above the Ichimoku cloud and over the simple moving averages (SMAs) after a bounce off the 200-period SMA, around 1,863, resetting the upward action. The precious metal has recouped a decent amount of the losses from the all-time high of 2,074.89 to 1,863 low, and continues to be aided by the now bullish Ichimoku lines. The commodity’s positive sentiment appears restored above the cloud, despite the fresh bearish crossover of the 100-period SMA by the [..]

Daily Market Comment – Greenback and equities at critical crossroads

Posted on August 18, 2020 at 8:13 am GMT

Dollar extends slide, now testing crucial support levels Nasdaq hits another record, but S&P 500 can’t overcome its own peak Yen and gold recover as global yields fall back down Dollar feels the heat of stronger risk appetite No news is bad news for the world’s reserve currency lately, which continues to surrender ground even without any noteworthy developments, pressured by the ‘risk on’ atmosphere in the markets. Unless investors are in a truly defensive mood, the greenback is struggling [..]

Daily Market Comment – Stocks pause at record highs, dollar struggles

Posted on August 17, 2020 at 8:22 am GMT

Dollar extends losing streak, yet most FX pairs stuck in narrow ranges Will the reversing trend in European/American infections affect euro/dollar? US stocks near record highs amid global liquidity tsunami Overall, things are calm as investors wait for the next catalyst – Congress? All quiet on the FX front, except the dollar The currency market seems to have entered a summer lull, as aside from a modest tumble in the US dollar, there isn’t much else going on in the [..]

Technical Analysis – Gold recoups some losses after rebound on 1,860

Posted on August 17, 2020 at 7:41 am GMT

Gold prices are returning slightly higher after the aggressive selling interest from the all-time high of 2,074.89 achieved on August 7. The price found immediate resistance at the 20-day simple moving average (SMA), while the technical indicators seem to be mixed. The MACD oscillator is falling well below the trigger line, though the RSI is pointing marginally up near the neutral threshold of 50. If the price recoups some of the losses and jumps above the flat red Tenkan-sen line, [..]

Daily Market Comment – Dollar slips as no stimulus deal in sight yet; Gold pares losses

Posted on August 13, 2020 at 8:34 am GMT

US Treasury yields fall back as Washington no closer to reaching stimulus deal Dollar retreats, helping gold recover some losses; stocks subdued US data, China trade talks on markets’ radar for the next few days Talks on virus relief bill stumble again The Trump administration and Democrats appear no closer to finding a compromise deal on a new virus relief package as the latest efforts to kick start the negotiations prove fruitless. Talks between the two sides have been at [..]

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