All Articles Tagged - gold

European Open Preview – US proposes tariffs on EU, but markets remain calm

Posted on April 9, 2019 at 7:53 am GMT

US officially proposes tariffs on EU, but market reaction minimal so far Euro advances, looks to ECB meeting tomorrow In Brexit, May will meet Merkel and Macron today ahead of EU summit Lighthizer recommends tariffs on EU – new chapter in trade war? The main story overnight was that the US Trade Representative, Robert Lighthizer, proposed introducing tariffs on a list of 11$bn worth of EU products in retaliation to EU aircraft subsidies. This is the clearest sign yet that [..]

Technical Analysis – Gold advances near 1,300; indicators look positive

Posted on April 8, 2019 at 7:03 am GMT

Gold is extending its gains today and is currently trading near the 1297 resistance level. The price has also increased distance above the bullish cross of the 20- and 40-simple moving averages (SMAs), indicating that the recent upside move might hold for longer. Momentum signals are bullish as well as the red Tenkan-sen line, which is above the blue Kijun-sen line, looks to be heading north, while the RSI has reversed higher after surpassing its 50 neutral mark last week. Also, the stochastic oscillator [..]

European Open Preview – Pound climbs as May warms up to Corbyn; stocks jump

Posted on April 3, 2019 at 7:49 am GMT

Encouraging trade signals lift risk sentiment; high-level talks resume today Sterling climbs as May warms up to Corbyn to break deadlock Dollar pulls back ahead of ADP report and ISM non-manufacturing PMI Risk appetite boosted by hopes for trade breakthrough After a relatively uneventful session on Tuesday, during which major US stock indices such as the S&P 500 closed flat, risk sentiment was lifted overnight by some encouraging signs on the trade front. Reports suggest that top US and Chinese [..]

Technical Analysis – Gold loses ground below 1,300; outlook turns neutral in medium term

Posted on April 2, 2019 at 9:44 am GMT

Gold plummeted below 1300 over the previous week, while today the price is moving around the fresh one-month low around 1285. The March 7 support line seems to be acting as support near 1280.63, though, the risk remains neutral to slightly positive as the MACD is flattening around the trigger line, while the stochastic oscillator is ready for a bullish cross with the %K and %D lines. If the market corrects higher, the bullish action may pause initially near the [..]

European Open Preview – Stocks, dollar rip higher as growth fears ease

Posted on April 2, 2019 at 8:03 am GMT

Rebound in Chinese PMIs fuels rally in global stocks, dollar advances Pound outperforms as ‘soft’ Brexit outcomes or long extension seem likely Aussie drops after RBA recalibrates language Stocks and dollar cruise higher as China-induced rally lingers Global equity markets started the second quarter on a strong footing, after a decent set of PMI data out of China during the weekend calmed some nerves around the global growth outlook, amplifying the appeal of riskier assets. Wall Street shares rallied, with [..]

European Open Preview – Pound plunges as May makes final push for her deal; dollar holds firm as trade talks eyed

Posted on March 29, 2019 at 9:25 am GMT

Sterling is in freefall again after Prime Minister May decides to put her deal to a third vote, but without the political deceleration on a future relationship Dollar holds near highs despite lower GDP revision as Treasury yields recover Stocks bounce back as bond rally eases and on optimism of US-China trade deal MPs to vote again on Withdrawal Agreement minus the political declaration British prime minister, Theresa May, made a last-ditch attempt to get her Brexit deal through Parliament. [..]

European Open Preview – Dollar edges up as Treasury yields stabilize; Kiwi slumps as RBNZ hints at rate cut

Posted on March 27, 2019 at 9:16 am GMT

Dollar firmer despite weak US data as Treasury rally eases New Zealand dollar nosedives after RBNZ says rate cut more likely than a hike Pound choppy ahead of crucial indicative votes on Brexit in Parliament Steadier Treasury yields help dollar regain some footing The US dollar edged higher against a basket of currencies on Wednesday, extending Tuesday’s gains, as steadier Treasury yields alleviated the recent selling pressure, especially against the yen. The dollar index rose to a 2-week high of [..]

Technical Analysis – Gold eases after reaching 1-month high

Posted on March 26, 2019 at 10:29 am GMT

Gold has declined considerably since hitting the one-month high of 1324.40 on Monday’s trading session, returning back below the red Tenkan-sen line. The technical indicators are suggesting a potential downside risk as both are weakening. The RSI is falling towards the 50 level, while the MACD is ready for a bearish crossover with its trigger line. Despite the technical indicators view, the current structure remains bullish in short-term, as the price is holding above the ascending trend line over the [..]

European Open Preview – Dollar roars back; euro crumbles on soft PMIs

Posted on March 22, 2019 at 8:52 am GMT

Dollar recoups Fed losses as other currencies soften Stocks climb amid renewed trade optimism Pound trims losses as EU offers short extension Euro plunges after Germany’s manufacturing PMI signals more pain ahead Dollar roars back, recoups Fed losses The US dollar staged a remarkable comeback on Thursday, advancing against a basket of six major currencies to recoup all the losses it recorded following the Fed meeting, even without any positive US catalyst or news. What is particularly striking, is that [..]

Technical Analysis – Gold pares some losses; RSI looks slightly bullish in short term

Posted on March 18, 2019 at 8:28 am GMT

Gold is posting notable gains over the last 4-hour session, successfully surpassing its 20- and 40-simple moving averages (SMAs). While the price continues to trade within the Ichimoku cloud over the last week and the MACD oscillator keeps lacking momentum around its trigger and zero lines, the RSI is trying to frame a more positive picture for the short term as the indicator has started to slope to the upside again above its 50 neutral mark. Immediate resistance would likely come from the [..]

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