All Articles Tagged - gold

Market Comment – Dollar benefits from hawkish Fed minutes

Posted on May 23, 2024 at 8:41 am GMT

Dollar rallies as both gold and bitcoin fall Early UK elections called after mixed UK CPI report EZ PMIs unlikely to stop the ECB from cutting rates in June Dollar rallies on the back of the minutes The Fed minutes showed a much more hawkish discussion at the May 1 meeting than originally portrayed by Chairman Powell. In particular, the comment about the willingness of various participants to tighten policy further should risks to the inflation outlook materialize, contradicts Powell’s [..]

Technical Analysis – Gold flirts with mid-level of Bollinger band

Posted on May 22, 2024 at 8:26 am GMT

Gold fluctuates within 2,405-2,435 Oscillators continue to hold in positive territories Gold prices are retreating somewhat near the mid-level of the Bollinger band, moving horizontally within the 2,405-2,435 region in the 4-hour chart. However, the commodity is still developing above the short-term uptrend line, failing to post a notable downside correction. Technically, the MACD is travelling beneath its trigger line above the zero level, while the RSI is pointing marginally north near the neutral threshold of 50. If buyers stay [..]

Commodities’ volatility jumps due to geopolitics – Volatility Watch

Posted on May 21, 2024 at 2:45 pm GMT

Euro/dollar volatility eases aggressively Volatility in gold and silver skyrockets US equities enjoy low volatility amidst weekly gains Euro/dollar volatility has dropped aggressively as the market is adjusting to a quieter data calendar that nevertheless includes a plethora of Fed speakers. Similarly, volatility in yen crosses remains moderate as market participants, especially in dollar/yen, appear unwilling to further provoke the BoJ and risk significant losses. On the contrary, volatility in the commodities space has gone through the roof. While oil price volatility has eased further despite the latest [..]

Market Comment – Fed uncertainty puts stocks on edge, dollar edges up

Posted on May 21, 2024 at 8:42 am GMT

Fed policymakers maintain caution ahead of minutes as risk appetite ebbs Commodities retreat from highs amid hawkish Fed, calm in Middle East Dollar inches higher, ether jumps 19% on spot ETF hopes Fed officials sing from same hymn sheet Expectations of two rate cuts by the Fed are in doubt again as investors pared back some of their bets following a string of hawkish commentary by Fed policymakers in the last 24 hours. Markets had priced in 50 basis points [..]

Market Comment – Rate cut optimism buoys equities, gold jumps on geopolitical risks

Posted on May 20, 2024 at 8:51 am GMT

Stocks remain on the front foot despite wavering rate cut bets Optimism prevails even as gold rallies on Middle East uncertainties Subdued dollar eyes Fed speakers, rising Japanese yields fail to lift yen Stocks extend post-CPI gains Equity markets remained buoyant at the start of the new trading week following last week’s somewhat cooler-than-expected inflation report out of the United States, as the data further extinguished any lingering fears about a possible Fed rate hike. Yet, the latest CPI readings [..]

Technical Analysis – Gold unlocks another record high

Posted on May 20, 2024 at 8:21 am GMT

Gold advances above sideways channel 20- and 50-day SMAs tick up MACD and RSI suggest more upside pressure Next target at 261.8% Fibo extension of 2,515 Gold prices skyrocketed to another fresh high of 2,450 earlier in the day, currently holding above the previous peak of 2,431.48. This movement may be a sign of further increases during the next couple of days, with the technical oscillators suggesting more gains in the market. The MACD is strengthening its positive momentum above [..]

Market Comment – Dollar rebounds as US import prices accelerate

Posted on May 17, 2024 at 8:01 am GMT

US import prices see largest surge in two years Investors scale back Fed rate cut bets Yen slides on BoJ bond operation, Ueda’s remarks Wall Street pulls back after hitting fresh record highs Dollar recovers some CPI-related losses The US dollar rebounded on Thursday and is holding onto those gains today as data showed that import prices increased 0.9% month-on-month in April, taking the annual rate up to 1.1% from 0.4%. Despite the slowdown in the CPI figures on [..]

Midweek Technical Look – USDJPY, Gold, US 500

Posted on May 16, 2024 at 12:56 pm GMT

USDJPY gets hammered after monthly US data miss forecasts; support could develop near 153.35 Gold strengthens short-term upleg; eyes turn to the 2,400 area as bias remains positive US 500 stock index hits all-time high; looks bullish, but room for improvement could be limited [..]

Technical Analysis – Gold retreats after hitting upper Bollinger band

Posted on May 16, 2024 at 12:42 pm GMT

Gold remains bullish in near term RSI moves horizontally below 70 level Gold prices recorded their second session of losses in the 4-hour chart after a failed attempt to break significantly above the 2,400 round level. Chances for a reversal are increasing as the RSI is pointing south after the climb in the overbought region, while the MACD is weakening its momentum above its trigger and zero lines. Another step lower may reach a key support at 2,378, where the price [..]

Market Comment – Dollar plummets as US data supports Fed rate cuts

Posted on May 16, 2024 at 8:04 am GMT

US inflation resumes downtrend, retail sales stagnate Dollar falls as investors add to Fed rate cut bets Yen gains even as Japanese economy contracts Wall Street at fresh records, gold rallies on US data Cool inflation, flat retail sales hurt the dollar The dollar tumbled against all its major peers yesterday after the US CPI data revealed that inflation in the world’s largest economy resumed its downtrend in April, allowing investors to ramp up their Fed rate cut bets. [..]

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