All Articles Tagged - gold

Daily Market Comment – Stocks tank as Trump bans flights from Europe; ECB may disappoint

Posted on March 12, 2020 at 9:48 am GMT

ECB might not cut rates today – could introduce targeted lending measures and ramp up QE Stocks plunge, oil retreats after Trump bans all travel from Europe Yen back in vogue, but gold doesn’t get the memo Dollar holds firm despite risk aversion, reclaiming safe-haven status ECB may disappoint markets today, push euro briefly higher The European Central Bank (ECB) will have a tough balancing act on its hands when it announces its policy decision at 12:45 GMT today. On [..]

Dollar crushed from market meltdown over COVID-19; can fiscal policy come to the rescue? – Special Report

Posted on March 11, 2020 at 3:24 pm GMT

As stock markets reel from the coronavirus, and investors flee to safe havens such as the yen and gold, the US dollar has turned out to be an unexpected casualty of the market turmoil. But after emergency rate cuts failed to lift sentiment, some movement on the fiscal policy front has managed to soothe investor nerves, at least temporarily, giving a small reprieve to tumbling bond yields, and in turn the greenback. Stocks suffer steepest losses since financial crisis Fears [..]

Daily Market Comment – Yen explodes higher, oil crashes as the OPEC+ wars begin

Posted on March 9, 2020 at 10:06 am GMT

Investors in panic mode as oil collapses, sending shockwaves through markets Global stocks plunge, commodity currencies flash crash, dollar in agony as markets price in more Fed cuts Japanese yen the main winner, gold briefly tops $1700, euro capitalizes Markets in mayhem as oil price war compounds virus fears It’s been a dramatic beginning to the week in financial markets, with risk aversion being the only game in town as the weekend saw the OPEC+ alliance come to an end, [..]

Technical Analysis – Gold remains bullish despite correction from peak

Posted on March 9, 2020 at 8:24 am GMT

Gold’s pullback from a multi-year high of 1,703 found support at the mid-Bollinger band around 1657 and the very short-term supportive trendline pulled from February 28. The short-term oscillators suggest positive momentum is picking up, with the RSI improving ahead of its 50 mark and the MACD holding just at its red trigger line in the positive zone. If the yellow metal sustains its position above the supportive trendline and the mid-Bollinger band, initial resistance could come from 1,690 ahead [..]

Daily Market Comment – Dollar and stocks sink on growing virus gloom; NFP may not help much

Posted on March 6, 2020 at 9:44 am GMT

Dollar and stocks take another battering as virus fears grip markets Investors continue to flock to safety, euro a surprise beneficiary US jobs report not expected to trim Fed rate cut expectations; OPEC eyed too No reprieve for dollar sell-off The US dollar extended its losing streak on Friday, skidding to two-month lows against a basket of currencies and 6-month lows versus the safe-haven yen. Contagion fears continue to spread panic in the markets as the number of coronavirus cases [..]

Daily Market Comment – Fed fires blanks as emergency rate cut fails to calm markets

Posted on March 4, 2020 at 9:21 am GMT

Fed surprises with emergency 50-bps cut but markets continue to fear the worst US stocks stage turnaround after Joe Biden wins big on Super Tuesday Dollar slumps, yen and gold surge after Fed’s shock rate cut; is BoC next? Fed fails in attempt to soothe market panic The US Federal Reserve shocked markets by slashing its benchmark interest rate by 50 basis points in an emergency meeting on Tuesday as policymakers intervened to calm jittery traders. The decision came just [..]

Technical Analysis – Gold recoups lost ground but eyes turn to 1,662

Posted on March 4, 2020 at 8:05 am GMT

Gold recouped all the losses it made on Friday after stepping on the 50-day simple moving average (SMA), with the price returning to the 1,600 territory. The short-term risk is still on the upside as the RSI has rebounded near a descending trendline and back above its 50 neutral mark, though with the MACD remaining below its red signal line despite gaining momentum, and the red Tenkan-sen stabilizing slightly above the blue Kijun-sen, some caution should be warranted. Hence, traders [..]

Daily Market Comment – RBA cuts rates, G7 response awaited as virus panic grows

Posted on March 3, 2020 at 9:34 am GMT

RBA cuts rates, others expected to follow as virus cases show no sign of slowing G7 statement eyed as markets pin hopes on stimulus to combat outbreak Stocks bounce back on stimulus talk but doubts on commitment caps gains Yen and gold edge up, dollar mixed ahead of Super Tuesday RBA first to cut, others to follow? The Reserve Bank of Australia became the first major central bank to cut interest rates on Tuesday in response to the worsening outbreak [..]

Daily Market Comment – Dollar retreats, stocks in freefall as virus engulfs markets

Posted on February 27, 2020 at 9:41 am GMT

Virus concerns intensify, pushing dollar lower amid mounting expectations for Fed rate cuts Stocks crater, and risk aversion may linger ahead of Chinese PMIs Euro the big winner, capitalizing on dollar’s retreat and defensive inflows Global carnage deepens as virus spreads Worries about the coronavirus continue to plague markets, as every passing day makes it clearer that this crisis won’t blow over soon, and the disruptions initially on supply chains and then on demand could be the ‘black swan’ that [..]

Daily Market Comment – Stocks steadier but risk aversion still in play; dollar pressured by falling yields

Posted on February 25, 2020 at 9:35 am GMT

Stocks stage tepid rebound but virus fears continue to cast shadow over markets Dollar on the backfoot on rising Fed rate cut expectations; gold slips Aussie and kiwi pause slide as softer dollar provides some relief Markets calmer after stocks suffer biggest drop since 2016 Global stock markets stabilized on Tuesday after yesterday having their worst day since Britain voted to leave the European Union in June 2016. A report in China’s Global Times that a university professor has developed [..]

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