All Articles Tagged - gold

Market Comment – Dollar rebounds, yen off highs after suspected intervention

Posted on April 30, 2024 at 9:05 am GMT

Yen eases from highs as Japanese authorities stay mum on intervention Dollar creeps higher, euro softer as attention turns to Eurozone economy Stocks mixed ahead of more key earnings, gold extends losses Yen on edge as no word on intervention FX markets remained wary but were steadier on Tuesday following yesterday’s rollercoaster ride for the Japanese currency. After months of constant pushing and prodding by traders, Japanese authorities likely saw red when the yen crossed the 160 per dollar level. [..]

Market Comment – Yen spikes on suspected intervention; big week awaits the dollar

Posted on April 29, 2024 at 8:57 am GMT

Yen reverses higher after breaching 160/dollar, but no comment on intervention Dollar slips despite more hot inflation data; Fed decision and NFP loom large Stocks extend gains on earnings, strong US economy Yen slump triggers rally, but is it intervention? The yen sank to new 34-year lows against the US dollar in Asian trading on Monday, extending its slide from Friday when upbeat US economic data piled fresh pressure on the Japanese currency. A mildly hawkish Bank of Japan had [..]

Technical Analysis – Gold weakens its momentum

Posted on April 29, 2024 at 6:37 am GMT

Gold holds near the 20-day SMA Oscillators are heading south Gold prices are moving back and forth of the 2,320 barrier and the 20-day simple moving average (SMA), while remaining in a positive territory. However, the technical oscillators are weakening their momentum. The MACD is standing beneath its trigger line above the zero level, while the RSI is ticking down above the neutral threshold of 50. If the price remains above the 2,320 support then the price may re-challenge the [..]

Market Comment – Yen keeps sinking after Bank of Japan decision

Posted on April 26, 2024 at 8:50 am GMT

Yen falls to fresh multi-decade lows after BoJ rate decision US GDP flashes mixed signals, dollar retreats in aftermath Stocks recover on solid tech earnings, gold resumes uptrend Yen plummets – how close is FX intervention? The Japanese yen continues to melt down, hitting new multi-decade lows against the US dollar after the Bank of Japan refrained from providing any concrete signals on further rate increases and following some disappointing inflation data from Tokyo. Even though the BoJ revised its [..]

Midweek Technical Look – GBPUSD, EURJPY, Gold

Posted on April 25, 2024 at 11:40 am GMT

GBPUSD targets a positive close for the week, yet faces crucial resistance levels ahead EURJPY surges to a 16-year high; bears might be around the corner Gold enters tight range; bulls need a clear bounce above $2,325 [..]

Slightly lower volatility across the board ahead of key US data – Volatility Watch

Posted on April 23, 2024 at 9:54 am GMT

Lower volatility is on the cards for the FX market Gold to enjoy lower volatility; oil probably too quiet considering geopolitics Equities volatility remains elevated, especially in JP225 index Volatility in EUR/USD has eased up a bit but remains high amidst continued rhetoric for an ECB rate cut in June. Geopolitical events have also played a crucial role in maintaining volatility high in the remaining currencies, including the yen and pound crosses, with the former facing a real risk of market intervention and the latter being affected by a [..]

Market Comment – Dollar pulls back, but yen hits new 34-year low

Posted on April 23, 2024 at 8:19 am GMT

Dollar loses ground against risk-linked currencies But yen continues to slide to new 34-year low Stocks rebound, gold falls on easing geopolitical concerns Key US data could further weigh on Fed rate cut bets The US dollar retreated somewhat against most of its major peers on Monday, losing the most ground against the risk-linked currencies kiwi, aussie and loonie, perhaps as the cooling Middle East tensions allowed investors to increase their risk exposures. Having said that though, the fundamental drivers [..]

Technical Analysis – Is gold ready for bearish correction?

Posted on April 23, 2024 at 6:44 am GMT

Gold dives towards 2,300 MACD and RSI decline from overbought regions Gold prices have been underperforming in the past two days, breaking back below the 2,320 and the 20-day simple moving average (SMA). Momentum indicators are pointing to a negative bias in the short term with the RSI ticking strongly to the downside. The MACD is easing beneath its trigger line losing its positive momentum. Both are confirming that a downside correction may be on the cards. Further losses could see the 161.8% [..]

Market Comment – Risk appetite returns as geopolitical fears calm

Posted on April 22, 2024 at 8:32 am GMT

Global markets in a better mood amid lack of Iran-Israel escalation Stocks recover after sharp selloff, oil and gold prices turn down Busy week ahead for economic data releases and tech earnings Relief rally Global markets started the new week on a positive note, as the absence of further escalation in the Israel-Iran crisis helped calm investor nerves. Riskier assets such as equities recovered some ground early on Monday while crude oil and gold prices declined, reflecting fading concerns about [..]

Market Comment – Safe havens jump as Israel retaliates against Iran

Posted on April 19, 2024 at 8:52 am GMT

Gold, franc, yen and oil spike higher after Israel strikes Iran But gains are pared after retaliatory response seen to be limited Stocks head deeper into the red after disappointing tech earnings Markets on alert as ME tensions re-escalate After days of speculation about a possible retaliatory action, Israel launched strikes on Iranian targets overnight, in direct response to Iran’s missile and drone attack last Saturday. Safe havens rallied as the reports started coming in, with gold briefly climbing above [..]

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