All Articles Tagged - gold

US Open Preview – Euro, pound erase gains; equities take off as risk-off recedes

Posted on October 12, 2018 at 11:45 am GMT

Here are the latest developments in global markets: FOREX: Dollar/yen moved off one-month lows, trading marginally up at 112.32 (+0.13%) as US 10-year Treasury yields slightly rebounded despite US President’s criticism on monetary policy and as risk aversion eased. Trade fears also somewhat calmed down after Chinese exports in September surprised analysts, showing a double-digit growth of 14.5% y/y, the highest since February, while imports appeared weaker than expected. News that the US and the Chinese President could hold a meeting in November and headlines [..]

US Open Preview – Dollar cautious ahead of US CPI; Europe joins in global stock sell-off

Posted on October 11, 2018 at 11:14 am GMT

Here are the latest developments in global markets: FOREX: Dollar/yen was barely moving around 112.22 after dropping to 111.95 early on Thursday as US 10-year Treasury yields weakened to 3.15% from 3.24% on Wednesday. Trade worries were also weighing on investors appetite despite China’s Commerce Ministry saying Beijing is open for dialogue with Washington. US CPI figures later today could bring fresh waves of volatility to the greenback (see below). The dollar index was struggling too at 95.32 (-0.20%) on the [..]

European Open Preview – Stocks crash as risk aversion reigns; US CPI and ECB minutes eyed

Posted on October 11, 2018 at 7:52 am GMT

Here are the latest developments in global markets: FOREX: The dollar was down by almost 0.2% against a basket of six major currencies on Thursday, extending losses from the previous session. The yen was the best performer, advancing against all its major peers as risk aversion took hold, amid sustained worries around the trade outlook and elevated bond yields. Meanwhile, commodity currencies were hammered lower in this environment, with the loonie being caught in the eye of the storm as oil [..]

US Open Preview – Brexit hopes hold pound up; US PPI in focus

Posted on October 10, 2018 at 11:56 am GMT

Here are the latest developments in global markets: FOREX: The British pound unlocked fresh two-week highs against the US dollar at 1.3184 but it soon fell to 1.3136 after GDP growth readings out of the UK missed a forecast of 1.6% y/y, showing instead an expansion of 1.5%. July’s mark, though, was revised upwards, from 1.6% to 1.7%. Separately, manufacturing and construction outputs in August disappointed as well, driving industrial production back to the negative territory. The British trade balance [..]

European Open Preview – Fresh dose of Brexit optimism lifts pound; key UK data and US factory inflation coming up

Posted on October 10, 2018 at 7:49 am GMT

Here are the latest developments in global markets: FOREX: The dollar index is fractionally lower on Wednesday (-0.06%), after finishing the previous session down as well, weighed on by a slight pullback in US bond yields. The British pound outperformed, as fresh media reports amplified optimism that a Brexit deal may be reached by next week. On the other hand, the euro surrendered ground across the board, even despite some soothing remarks by the Italian PM. STOCKS: Wall Street closed mostly in [..]

US Open Preview – Euro feels more pain as Italian stress weighs; bond yields hit fresh highs

Posted on October 9, 2018 at 11:52 am GMT

Here are the latest developments in global markets: FOREX: The euro erased earlier gains to fall as low as 1.1435 (-0.50%), the lowest since August 20, as a potential clash between Rome and the EU over Italy’s spending plans looked unavoidable – especially after bitter comments by the Deputy Prime Minister, Matteo Salvini in Brussels on Monday. Meanwhile, Italy’s finance minister reiterated today that the deficit target for 2019 will be 2.4% of GDP, but also said that the government will take action if the yield spread widens. US [..]

European Open Preview – Yen stages comeback amid China & Italy concerns

Posted on October 9, 2018 at 7:41 am GMT

Here are the latest developments in global markets: FOREX: The dollar index – which tracks the greenback’s performance against a basket of six major currencies – inched up by 0.11% on Tuesday, extending the gains it recorded in the previous session. This was largely owed to a tumble in the euro, which holds the largest weight in this index by far, as concerns around Italy remained in the spotlight. The yen was the best performer among the major currencies, with investors [..]

US Open Preview – Yen recoups losses despite dollar strength; oil & gold on slippery road

Posted on October 8, 2018 at 12:07 pm GMT

Here are the latest developments in global markets: FOREX: With Japan being shut for the Health and Sports public day and risk-off sentiment strengthening amid trade uncertainties and political noises in the Eurozone, the Japanese yen managed to rebound, sending dollar/yen straight down to a 1 ½ -week low of 113.33 (-0.33%). Yesterday, the People’s Bank of China slashed the amount of cash banks must hold as reserves, stepping up efforts to set free some liquidity and thus boost growth in [..]

Technical Analysis – Gold records significant losses in trading range

Posted on October 8, 2018 at 8:34 am GMT

Gold is still holding within a short-term trading range over the last two months with strong resistance boundary the 1212.50 level and support boundary the 1180.60 level. Notice that currently, the price is moving below the 20- and 40-simple moving averages (SMAs) in the 4-hour chart. The bearish pressure in the channel has been confirmed by the technical indicators. The RSI indicator dropped below the 50 threshold, while the MACD oscillator is losing momentum in the positive territory. If the precious metal dips below the 1193.80 hurdle [..]

European Open Preview – Dollar unimpressed by jobs data; yuan softens as China opens stimulus taps

Posted on October 8, 2018 at 7:46 am GMT

Here are the latest developments in global markets: FOREX: The dollar is higher by 0.18% against a basket of six major currencies on Monday, recovering the modest losses it recorded in the previous session. The British pound posted notable gains after media reports suggested the EU is ready to offer the UK a “super charged” free trade deal. In China, the PBOC eased policy by cutting its reserve requirement ratios (RRR), triggering a tumble in the yuan. STOCKS: US markets were a [..]

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