All Articles Tagged - gold

US Open Preview – European equities march higher as dollar consolidates losses; Canadian data in focus

Posted on September 21, 2018 at 12:12 pm GMT

Here are the latest developments in global markets: FOREX: The dollar’s index against a basket of six major currencies traded higher by 0.1% after touching its lowest since early July of 93.81 earlier on Friday. Still, the index mostly consolidated yesterday’s considerable losses. Dollar-advancing on Friday was most evident against the yen and sterling. The former, unable to attract safe-haven flows, took a beating lately. Evidently, dollar/yen, euro/yen and pound/yen scaled two-, five- and four-month highs on Friday; the latter [..]

European Open Preview – Yen & dollar pummeled amid stock exuberance; key Eurozone and Canadian data due

Posted on September 21, 2018 at 7:47 am GMT

Here are the latest developments in global markets: FOREX: The dollar index is higher by a marginal 0.05% on Friday, recouping some of the significant losses it posted in the previous session as risk appetite remained firm and investors pared back more of their safe-haven bets on the US currency. The haven-perceived yen was also on the back foot, performing even worse than the greenback amid this risk-on environment. Meanwhile, the euro and sterling capitalized, both staging a spectacular recovery [..]

US Open Preview – Pound shines after unexpected rise in retail sales

Posted on September 20, 2018 at 12:14 pm GMT

Here are the latest developments in global markets: FOREX: British retail sales beat expectations today rising by 0.3% m/m in August, above the -0.2% forecasted, from 0.9% m/m in the preceding month. Yearly, retail sales advanced by 3.5% instead of 2.5% predicted and versus 3.8% in July, driving pound/dollar higher by 1.10% to a fresh 2-month high of 1.3288. Also, pound/yen advanced by 0.96%, jumping above 148.00. In Brexit-related news, the Irish RTE media reported that May sees no deal before October’s EU regular [..]

European Open Preview – Sterling remains turbulent amid EU summit; UK retail sales coming up

Posted on September 20, 2018 at 7:48 am GMT

Here are the latest developments in global markets: FOREX: The dollar index is down by 0.10% on Thursday after ending the previous session practically unchanged, failing to capitalize on a sustained surge in longer-term US bond yields. In the UK, the British pound had a turbulent ride amid Brexit news. Meanwhile, commodity-linked currencies such as the loonie, aussie, and kiwi staged a quiet comeback as worries over global trade eased. STOCKS: It was a mixed session in the US on Wednesday. The Dow Jones (+0.61%) [..]

US Open Preview – Pound reverses gains on Irish border headlines despite stronger inflation; SNB rate decision pending

Posted on September 19, 2018 at 12:00 pm GMT

Here are the latest developments in global markets: FOREX: In the wake of upbeat UK inflation readings, sterling advanced considerably against the greenback to an 8-week high of 1.3214. The Consumer price index rose to an annual rate of 2.7% from 2.5% in the previous month and comfortably above market expectations of 2.4%. It was the highest inflation rate since February. On a monthly basis, the figure inched up by 0.7% versus 0.0% previously, while the annual core CPI ticked higher to 2.1% [..]

European Open Preview – Markets brush aside trade concerns; UK inflation in the spotlight

Posted on September 19, 2018 at 7:45 am GMT

Here are the latest developments in global markets: FOREX: The dollar index is lower on Wednesday, albeit not by much (-0.12%), giving back the slight gains it posted yesterday. The yen plunged across the board as investors rotated out of safe assets, after the US-China trade confrontation was perceived to be milder than feared. Meanwhile, risk-sensitive currencies like the aussie and kiwi recovered some lost ground. STOCKS: US markets climbed on Tuesday, shrugging off trade worries as the tariff actions by both China and [..]

US Open Preview – Dollar holds onto gains despite China’s warnings; BoJ rate decision in focus

Posted on September 18, 2018 at 11:34 am GMT

Here are the latest developments in global markets: FOREX: The US dollar moved higher by 0.26% against the Japanese yen but held below its intraday high of 112.27, while the US dollar index edged marginally higher by 0.09%. US President Donald Trump announced yesterday that his country will impose a 10% tariff on $200bn of Chinese goods from September 24 as was widely anticipated. As of January 1, 2019, those tariffs will be raised to 25%. Euro/dollar erased earlier gains to return to 1.1682, [..]

European Open Preview – Trump fires fresh tariff salvo, how will China “strike back”?

Posted on September 18, 2018 at 8:04 am GMT

Here are the latest developments in global markets: FOREX: The dollar index is down fractionally on Tuesday (-0.08%), extending the notable losses it posted in the previous session, unable to attract safe-haven inflows even despite a fresh escalation in the US-China trade standoff. The pound gained ground on Monday alongside the euro as investors positioned for an EU summit that commences tomorrow, with expectations for a Brexit breakthrough riding high. STOCKS: US markets closed in the red on Monday, weighed [..]

Technical Analysis – Gold still consolidating; unable to break narrow range

Posted on September 17, 2018 at 12:13 pm GMT

Gold still trades below the 20- and 40-period simple moving averages (SMAs) on the 4-hour chart, however, it was moving higher during the last couple of candles. The market appears to be largely in a neutral mode after the fall below the 1214.15 hurdle. Notice that the RSI is mostly moving sideways below the 50 level, while the %K line of the stochastic oscillator posted a bullish crossover with the %D line in the oversold zone, indicating more advances. Though, the MACD remains below both its trigger and zero lines. If price action jumps above the SMAs, there is scope to [..]

US Open Preview – Euro, pound resume bullish mood as trade risks intensify

Posted on September 17, 2018 at 11:54 am GMT

Here are the latest developments in global markets: FOREX: During the early European session, the US dollar was slightly weaker against the yen near 112.00 (-0.04%), with investors trading cautiously as the US President Donald Trump is said to announce new levies on China later today. The Eurozone Harmonized Consumer Price Index (HCPI) for the month of August released earlier today, confirmed the preliminary estimates. The yearly headline inflation remained the same as in the previous month at 2.0%, while the monthly gauge [..]

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