All Articles Tagged - gold

Gold consolidates recent gains, defies stronger dollar – Commodity News

Posted on October 18, 2018 at 2:53 pm GMT

After several months during which gold moved almost entirely in reverse fashion to the dollar, ignoring other developments and barely acting as the haven asset it’s considered to be, this dynamic may be changing. Demand for the yellow metal seems to be picking up amid broader uncertainty in markets, evident by bullion prices remaining resilient lately even in the face of a soaring dollar. While fluctuations in gold prices have traditionally been driven by changes in investors’ risk appetite, given [..]

US Open Preview – Pound regains ground despite retail sales weakness; offshore yuan at 2-month lows ahead of China’s GDP growth

Posted on October 18, 2018 at 11:58 am GMT

Here are the latest developments in global markets: FOREX: The US dollar ran to a new 1-week high against the Japanese yen earlier on Thursday after FOMC minutes from the September 24-25 policy meeting affirmed the prospect of additional rate hikes until the end of 2019. However, the pair eased by 0.18% soon after to trade at 112.47. The US dollar index reversed lower as well, last seen at 95.51 (-0.07%). British retail sales fell by 0.8% in September, posting a larger decline than the 0.4% [..]

European Open Preview – Fed minutes boost dollar; pound eyes UK retail sales

Posted on October 18, 2018 at 8:00 am GMT

Here are the latest developments in global markets: FOREX: The dollar index is up by nearly 0.20% on Thursday, building on the strong gains it recorded yesterday, aided by a hawkish tone in the latest Fed minutes. Meanwhile, the worst performers on Wednesday were the euro and loonie, amid Italian budget concerns and a sharp drop in oil prices respectively. The pound traded choppy and lower overall, weighed on by soft UK inflation data and the absence of real progress [..]

US Open Preview – Pound faces headwinds as inflation disappoints; FOMC meeting minutes awaited

Posted on October 17, 2018 at 11:51 am GMT

Here are the latest developments in global markets: FOREX: Worse-than-expected CPI readings out of the UK drove sterling lower early in the European session after September’s data showed an annual inflation rate of 2.4%, below the consensus of 2.6% and under the previous mark of 2.7%. This is the lowest annual price growth in three months. Pound/dollar dropped by 0.61% to 1.3100, paring the gains it posted on Tuesday, while pound/yen declined by 0.55% and euro/pound edged higher by 0.21%. Rising concerns over the EU summit not providing [..]

European Open Preview – Yen pulls back as risk appetite rebounds; UK inflation and Fed minutes coming up

Posted on October 17, 2018 at 7:49 am GMT

Here are the latest developments in global markets: FOREX: The dollar is higher by 0.1% against a basket of six major currencies on Wednesday, after ending the previous session practically unchanged. The British pound regained some poise yesterday, aided by encouraging UK wage figures and reports suggesting the EU is open to extending Britain’s Brexit transition period by another year. Meanwhile, the Japanese yen was the worst performer, as global risk sentiment rebounded, triggering a rotation away from haven assets and [..]

US Open Preview – Pound gains on upbeat British wages before EU summit

Posted on October 16, 2018 at 11:58 am GMT

Here are the latest developments in global markets: FOREX: Growth in British average earnings (excluding bonuses) in August came in stronger than expected at 3.1% y/y versus forecasts of 2.9%, helping pound/dollar to rally as high as 1.3227 early in the European session before slipping back to 1.3219 (+0.51%). Employment declined, though, by 5k missing forecasts of a 11k rise and the unemployment rate matched expectations, remaining unchanged at 4.0%. Optimistic comments by a German government official who said that a Brexit deal could be achieved by [..]

European Open Preview – Dollar consolidates losses; UK jobs data in focus

Posted on October 16, 2018 at 7:49 am GMT

Here are the latest developments in global markets: FOREX: The dollar index was fractionally higher early on Tuesday (+0.06%), attempting to recover some of the losses it posted in the previous session. Meanwhile, the yen is losing ground across the board, as a rebound in risk appetite seems to be diverting funds out of the safe-haven currency. Elsewhere, the loonie advanced despite lower oil prices, after an upbeat survey by the BoC sealed the deal for a rate hike next week [..]

US Open Preview – Pound bounces up as geopolitics weigh on dollar; gold rallies to 3-month highs

Posted on October 15, 2018 at 12:06 pm GMT

Here are the latest developments in global markets: FOREX: After starting the day with a gap down at 1.3082, pound/dollar managed to turn positive during the early European session, rallying to 1.3170 (+0.12%) mainly due to a weaker dollar. Brexit uncertainties continued to linger in the background as the talks between Brexit negotiators failed to break the Irish deadlock on Sunday, though some officials showed optimism that a deal could be agreed in coming weeks. The yen attracted further demand in the [..]

Technical Analysis – Gold advances to almost 3-month peak; exits trading range

Posted on October 15, 2018 at 9:40 am GMT

Gold reached a fresh near three-month high of 1230.33 today, continuing the aggressive bullish rally that started in the preceding week. The price successfully surpassed the narrow 1180.60 – 1212.50 range that had been holding since August 20, suggesting further upside moves in the near term. Having a look at the technical indicators, in the 4-hour chart, the RSI surged to overbought territory and is still pointing to the upside, while the MACD created a bullish crossover with the trigger line in the positive zone. Moreover, the 20-simple moving [..]

European Open Preview – Sterling gaps down as Brexit talks are “paused”; US retail sales due

Posted on October 15, 2018 at 7:48 am GMT

Here are the latest developments in global markets: FOREX: The dollar is marginally higher on Monday against a basket of six major currencies (+0.07%), extending the gains it recorded in the previous session. The safe-haven Japanese yen is the best performer among the G10 currencies, as a diplomatic rift between the US and Saudi Arabia is seemingly keeping investors on the defensive. Elsewhere, the British pound opened with a gap to the downside, after the EU and UK were reported to [..]

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