All Articles Tagged - gold

Daily Market Comment – Trade war goes financial

Posted on September 30, 2019 at 8:10 am GMT

Markets stay in risk-off mode as US considers financial sanctions against China Kiwi drops to new 4-year low after weak business confidence numbers Pound tumbles on hints of BoE rate cut, but may get some relief from politics Sentiment turns sour on fears trade war may spread into finance The main story on Friday was that the Trump administration is examining whether to restrict US financial flows into China. According to reports, Washington is considering delisting Chinese companies from [..]

Daily Market Comment – Trump impeachment risk scares stocks; UK Parliament returns

Posted on September 25, 2019 at 8:09 am GMT

Trump impeachment probe dampens sentiment, but is the market overreacting? Pound cheers Supreme Court ruling, but retreats on Corbyn’s remarks RBNZ holds its fire, kiwi briefly spikes higher Risk aversion engulfs markets as Trump faces impeachment enquiry Sentiment in financial markets turned sour on Tuesday, as a double whammy of trade and political risks blindsided investors, triggering a rotation away from riskier assets like equities and towards defensive ones such as the yen and Swiss franc. The initial catalyst [..]

Daily Market Comment – UK Supreme Court decision eyed ahead of RBNZ meeting

Posted on September 24, 2019 at 8:01 am GMT

UK Supreme Court rules at 09:30 GMT whether Parliament’s suspension was lawful – upside risk for sterling? RBNZ rate decision due early on Wednesday; kiwi may briefly spike higher US stocks recover after upbeat manufacturing PMI, but safe havens tell another story UK Supreme Court to rule on Johnson’s suspension of Parliament It will be an eventful day in Britain, as the nation’s Supreme Court will decide whether Boris Johnson’s choice to suspend Parliament for five weeks was lawful, or [..]

Technical Analysis – Gold retains ascending channel; looks neutral in short-term

Posted on September 23, 2019 at 7:17 am GMT

Gold managed to close slightly positive and above the 1,500 mark last week thanks to Friday’s rebound which found support around the bottom of the 4 ½-month old ascending channel. In the short-term, the precious metal could follow a sideways path as long as the RSI holds around its 50 neutral mark and the MACD fluctuates near its red signal line. Besides the lower boundary of the channel, traders will be closely watching the 1,485 handle where the market seems [..]

Daily Market Comment – Oil eases but stocks remain pressured; dollar edges up as focus turns to Fed

Posted on September 17, 2019 at 8:24 am GMT

Oil prices fall back slightly as imminent risk of war recedes, but tensions remain elevated US dollar in demand ahead of Fed decision; heightened tensions provide support Aussie slips after RBA minutes leave door open to another near-term rate cut Oil markets calmer but tensions high Crude oil prices moderated slightly on Tuesday as the United States and Japan pledged to release their countries’ oil reserves if needed, while President Trump said he’d like to “avoid” going to war with [..]

Technical Analysis – Gold retraces to 23.6% Fibonacci; bounces off uptrend line

Posted on September 16, 2019 at 9:47 am GMT

Gold bounced off the uptrend line drawn from May 30, gapping above the 21-period simple moving average (SMA) and then was halted by the 50-period SMA. The metal had consolidated around the 1488 level, which is the 23.6% Fibonacci retracement of the up leg from 1266.20 to 1556.92, after dropping from a recent seventy-seven-month high of 1556.92 on September 4. The 100-period SMA has flattened suggesting the sideways move may extend. While also neutral, the MACD, just below the zero [..]

Daily Market Comment – Oil soars after Saudi attacks; yen and gold up too

Posted on September 16, 2019 at 8:21 am GMT

Oil prices skyrocket after Yemen rebels launch air strikes on Saudi oil facilities Safe havens also jump as poor Chinese data adds to risk-off mood Pound eases from highs after EU casts doubt on Johnson’s claim of Brexit progress Oil prices surge to 4-month high after Saudi oil attacks Crude oil prices skyrocketed on Monday, recording their biggest intra-day gain since 1991 after Houthi rebels in Yemen reportedly carried out drone and cruise missile strikes on two major Saudi Arabian [..]

Daily Market Comment – Pound recovers as no-deal Brexit fears recede, for now

Posted on September 10, 2019 at 8:06 am GMT

Sterling outperforms as Johnson strikes a slightly more conciliatory tone Euro advances on reports Berlin is considering fiscal stimulus Safe havens retreat as US’ Mnuchin reiterates his optimism on trade Sterling cruises higher as no-deal Brexit chances recede, for now The political rollercoaster continues in the UK. Prime Minister Johnson lost another vote in Parliament yesterday, with lawmakers denying his request for a snap election again. Likewise, the legislation forcing the government to ask for a Brexit extension if no [..]

Technical Analysis – Gold unable to lift 1,560 barrier; upward channel sustains confidence

Posted on September 9, 2019 at 7:32 am GMT

Gold gave up some ground after failing to cross the 1,560 border, with the sellers currently eyeing the 1,493 noisy support area as the technical indicators warn over a neutral-to-bearish session in the short-term; the RSI is attached at its 50 neutral mark following last week’s decline and the MACD continues to lose momentum below its red signal line. The market, however, keeps a positive trend inside an ascending channel and unless the price breaches it on the way down, any weakness could [..]

Daily Market Comment – Risk assets recover as Brexit and trade worries ease

Posted on September 5, 2019 at 8:33 am GMT

Risk appetite returns as trade and geopolitical tensions subside overnight Pound bounces back as no-deal Brexit averted for now; elections could follow US and China agree to hold trade talks in October; global stocks surge Markets cheer ebb in trade and political tensions Traders were greeted with positive developments on all fronts on Thursday as the United States and China finally agreed on the basis for a new round of high-level talks, while the easing of political turmoil in Britain [..]

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