All Articles Tagged - gold

Daily Market Comment – Dollar bounces back as Powell signals July rate cut not a done deal

Posted on June 26, 2019 at 8:46 am GMT

Fed Chairman Jerome Powell pushes back on aggressive rate cut bets But dollar rebounds only modestly as markets still see a 25-bps cut in July G20 summit remains the week’s focal point but hopes of a major breakthrough are low RBNZ hints at more easing, but kiwi rallies Powell says Fed is “grappling” whether to cut rates Markets were dealt a reality check on Tuesday after Fed Chairman Jerome Powell signalled that a rate cut in July was not a [..]

Daily Market Comment – Dollar and stocks edge lower on G20 doubts; Powell speech eyed

Posted on June 25, 2019 at 8:06 am GMT

Worries of no progress at Trump-Xi talks at G20 summit gives rise to risk aversion Iranian tensions also weigh on markets after US imposes new sanctions Dollar extends slide, while euro hits 3-month high above $1.14 level Fed in focus as Powell and others due to speak later in today Trade concerns hit sentiment ahead of G20 The faint optimism that US President Trump and Chinese President Xi will be able to resolve some of their trade difference faded late [..]

Technical Analysis – Gold shines near six-year high; rally could stall but not end

Posted on June 24, 2019 at 9:13 am GMT

Gold bulls got extra energy on Friday, driving the price towards an almost six-year high of 1,411. Downside corrections are likely in the very short term as the stochastics are set for a bearish cross above 80 overbought mark. The MACD however, has yet to show any sign of weakness, an indication that any slowdown in the market may be short-lived. Slightly higher, the 50% Fibonacci ratio of 1,421 of the three-year old downleg from 1,796 to 1,046 could prove a trigger point for another bullish [..]

Daily Market Comment – Cautious optimism ahead of G20 summit; dollar slips to 3-month lows

Posted on June 24, 2019 at 8:06 am GMT

All eyes this week are on planned meeting between Presidents Trump and Xi at the G20 summit Cautious optimism that progress can be made in stalled trade talks lifts equities on Monday But growing tensions between the US and Iran weigh on sentiment Dollar remains under pressure as markets expect a near-term rate cut by the Fed Hopes rise of positive talks at G20 summit Markets started the week on a positive note on Monday on hopes that the talks [..]

Gold rides the ‘perfect wave’ higher – Special Report

Posted on June 21, 2019 at 10:57 am GMT

The world’s oldest safe haven recorded extraordinary gains lately, as the ‘perfect combination’ of falling interest rates, a declining dollar, and general risk aversion amid recession and geopolitical fears fueled the rally. Given that these forces seem unlikely to abate anytime soon, the outlook for gold remains bright, with the key risk to this view being a potential trade ‘ceasefire’ that calms markets down. The global economy is clearly losing momentum, with uncertainty emanating from trade tensions holding back business [..]

Daily Market Comment – Fed confirms rate cuts loom, dollar crumbles

Posted on June 20, 2019 at 7:45 am GMT

Fed was remarkably dovish, sending the dollar lower BoE meets today; sterling may gain a little on reaffirmation of tightening bias Loonie flies as BoC may be the sole ‘island of neutrality’ Dollar tanks, gold soars as Fed signals incoming cuts The Fed kept rates unchanged yesterday, but the meeting wasn’t short of excitement as policymakers endorsed the market’s expectations for rate cuts as much as possible. One official voted for an immediate cut, while the Committee as a whole [..]

Daily Market Comment – Markets await central bank signals; pound slides

Posted on June 18, 2019 at 8:07 am GMT

Markets look to ECB forum today for easing hints – Draghi torpedoes euro Pound takes another hit ahead of more Tory leadership votes Aussie drops after RBA minutes reaffirm dovish stance Traders await signals as central bankers gather under one roof Markets continue to trade in a relatively quiet manner, with limited movements in most currencies and stocks as investors remain wary of increasing their risk exposure ahead of pivotal events this week – most notably, the Fed decision tomorrow. With [..]

Daily Market Comment – Oil, gold up on Middle East tensions; dollar steady ahead of US retail sales

Posted on June 14, 2019 at 8:03 am GMT

Brent crude extends gains following tanker attack in Gulf of Oman; gold lifted too Dollar heads for weekly gains as US retails sales and Fed meeting eyed Aussie and kiwi sag on growing rate cut bets Oil jumps on renewed tensions in Middle East Market sentiment was mixed on Friday as ongoing trade uncertainty and a flare up in Middle East tensions were partly offset by growing expectations that the Fed will come to the rescue of a weakening economic [..]

Daily Market Comment – Yen up on trade deal pessimism; pound down on failed bid to block no-deal Brexit

Posted on June 13, 2019 at 8:11 am GMT

Major pairs struggle against the yen as the market mood sours on low hopes of a US-China trade deal US dollar also supported from risk-off despite softer-than-expected inflation data Pound gains then falls again as opposition MPs fail to get backing for legislation blocking a no-deal Brexit Safe havens back in demand Fading hopes that there could be a breakthrough in the stalled trade talks between the United States and China at the G20 summit weighed on market sentiment for [..]

Daily Market Comment – Dollar drifts lower ahead of US inflation data; euro edges up on Trump tweet

Posted on June 12, 2019 at 8:17 am GMT

US dollar drifts lower as markets await US inflation data for Fed rate clues Stocks turn negative as Trump says he’s “holding up the deal” with China Euro eyes fresh highs, gets a lift from Trump’s currency comments Risk appetite fades as US-China deal looking unlikely at G20 US stocks ended their five-day winning streak as hopes that the US and China would still be able to get the trade negotiations back on track at the G20 summit fast dwindled. [..]

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