All Articles Tagged - gold

US Open Preview – Dollar steady ahead of NFP; Brexit hopes support pound

Posted on October 5, 2018 at 12:12 pm GMT

Here are the latest developments in global markets: FOREX: The US dollar held steady against the Japanese yen on Friday, as investors turned their attention to the monthly US Nonfarm payrolls report due later today. The pair was last trading around 113.87. The US dollar index, which tracks the dollar’s strength against six major currencies, was also flat around 95.76, set to complete the second consecutive green week. Turning to Brexit news, European Union Brexit negotiators see a deal with Britain in the near future, [..]

European Open Preview – Risk-off tones boost the yen and weigh on equities; US jobs data front and center

Posted on October 5, 2018 at 7:48 am GMT

Here are the latest developments in global markets: FOREX: The dollar is practically flat against a basket of six major currencies on Friday. It retreated in the previous session, but still held close to its recent highs. The yen saw a round of gains, with dollar/yen falling back below 114.00 as investors turned defensive amid high bond yields, and signs that the US-China “cold war” may be entering a new phase. Meanwhile, the commodity-linked currencies continued to underperform, with the aussie [..]

US Open Preview – Dollar holds above 114 vs yen as US bond yields soar; US factory orders pending

Posted on October 4, 2018 at 12:08 pm GMT

Here are the latest developments in global markets: FOREX: The US dollar retreated by 0.33% to 114.16 against the Japanese yen on Thursday after topping at 114.54 on Wednesday, the highest in 11 months. Following yesterday’s positive US data and hawkish comments from Federal Reserve Chairman Jerome Powell, US 10-year government bond yields spiked as high as 3.23% today, a level never seen since June 2011. Powell said that interest rates still have a long way to go to reach neutral levels, flagging that additional rate [..]

European Open Preview – Dollar flexes its muscles to reach an 11-month peak versus the yen

Posted on October 4, 2018 at 7:53 am GMT

Here are the latest developments in global markets: FOREX: The dollar index is higher on Thursday (+0.29%), extending the impressive gains it recorded in the previous session as US yields raced higher. The US currency touched a fresh 11-month high against the yen, buoyed by strong US data and confident remarks by Fed chief Powell. Meanwhile, the antipodean currencies underperformed, with both aussie/dollar and kiwi/dollar tumbling to fresh 2½-year lows. STOCKS: The Dow Jones (+0.20%) closed at a fresh record high for [..]

Gold shows signs of life, but remains in a range – Commodity News

Posted on October 3, 2018 at 2:58 pm GMT

While gold has traditionally held the status of the safe-haven asset, investors shunned it aside in the midst of trade concerns lately, favoring havens like the yen instead. The precious metal did see some demand in recent days amid worries around Italy, but was still unable to break the relatively narrow range it established over the last few weeks. Going forward, gold’s performance will likely depend mainly on that of the US dollar, as has been the case for months [..]

US Open Preview – Pound weaker after UK PM May’s conference speech

Posted on October 3, 2018 at 12:05 pm GMT

Here are the latest developments in global markets: FOREX: The common currency crawled up on Wednesday from six-week lows on news that the final version of Italy’s budget deficit could be less worse than originally reported. Government sources signalled possible reductions to the deficit targets in 2020, 2021, according to reports. Earlier today, retail sales in the Euro area dropped by 0.2% m/m in September from a downwardly revised 0.6% decline in the previous month, missing market expectations of a 0.2% gain. It was the second consecutive month of decrease in [..]

European Open Preview – Euro bounces on Italian news; sterling eyes PM May’s speech

Posted on October 3, 2018 at 7:45 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 – is lower by 0.20% on Wednesday. This is owed mainly to a recovery in the currency with the heaviest weight in this index, the euro, which bounced overnight following news that Italy is willing to compromise on its budget deficits from 2020 onwards. Elsewhere, the pound grinded lower during the Conservative Party Conference, with all [..]

Technical Analysis – Gold records significant gains but still confined to trading range

Posted on October 2, 2018 at 1:13 pm GMT

Gold prices have consolidating within a sideways channel since August 17, with upper boundary the 1212.50 resistance level and lower boundary the 1180.60 support barrier. It is worth mentioning that the price jumped above the 20- and 40-simple moving averages (SMAs) in the 4-hour chart with strong movement. The RSI indicator is moving north above the 50 level, while the MACD oscillator entered into the overbought zone. If price action jumps higher, there is scope to test the 1203 resistance [..]

US Open Preview – Euro, pound hit fresh lows; Powell’s speech awaited

Posted on October 2, 2018 at 11:58 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index was trading bullish on Tuesday (+0.35%), posting 1-month highs at 95.70, while dollar/yen weakened to 113.76 (-0.15%) after an impressive rally towards the more than a 10-month high of 114.06 on Monday. The Canadian dollar, which surged to four-month highs yesterday in the wake of news that the US and Canada finally reached common ground over NAFTA, was slightly weaker today, with dollar/loonie inching up to 1.2834 (+0.20%). Note [..]

European Open Preview – Euro extends losses as Italian worries dominate

Posted on October 2, 2018 at 7:51 am GMT

Here are the latest developments in global markets: FOREX: The dollar is up by 0.23% against a basket of six major currencies on Tuesday, looking set to post gains for the fifth session in a row. The loonie was an outperformer, with news that the US and Canada reached a new NAFTA accord lifting the risk premium on the currency. Meanwhile, the euro remains on the back foot, as Italy’s government appears adamant about sticking to its deficit target, setting the [..]

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