All Articles Tagged - gold

US Open Preview – Pound, euro up as dollar reverses lower; BoJ summary of opinions in focus

Posted on August 7, 2018 at 11:58 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index, which gauges the greenback’s strength against a basket of six major currencies, eased by 0.26% today, after it came close to the more than 1-year high of 95.652 on Monday. Dollar/yen retreated as well by 0.20%, while euro/dollar picked up speed, trading near 1.1600 (+0.30%). Also, pound/dollar recovered some ground (+0.18%) after falling to an 11-month low overnight on worries about a no-deal UK exit from the European Union. A Bloomberg [..]

European Open Preview – British pound suffers “Brexit blues”

Posted on August 7, 2018 at 7:43 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is lower by a little more than 0.10% on Tuesday, giving back some of the gains it posted yesterday. Meanwhile, the British pound retreated across the board on Monday, as speculation intensified that the UK could exit the EU without any deal. Elsewhere, the aussie ticked up after the RBA was perceived to be a little more optimistic, on the margin, upon completion of its policy meeting earlier today. STOCKS: US [..]

US Open Preview – Sterling the worst performer; aussie weaker ahead of RBA decision

Posted on August 6, 2018 at 11:15 am GMT

Here are the latest developments in global markets: FOREX: The dollar index, which gauges the greenback’s strength against a basket of six major currencies, was trading higher by around 0.25%, with euro/dollar being down by 0.20% and trading around the 1-year low of 1.1530 despite Eurozone’s Sentix investor confidence index for the month of August surprisingly improving for the second month. Dollar/yen moved higher by 0.15% above the 111.00 psychological level. Pound/dollar plummeted to an 11-month low of 1.2932 on Monday (-0.52%) as comments by [..]

Technical Analysis – Gold holds above 17-month low; could weaken further in near term

Posted on August 6, 2018 at 9:13 am GMT

Gold posted a fresh 17-month low of 1204.36 last Friday, but now it is trading slightly higher from this bottom. The aggressive sell-off continues after the bounce off the short-term falling trend line and the 20- and 40-simple moving averages in the 4-hour chart. From a technical point of view, the RSI is currently increasing negative momentum and is heading to the downside, while the %K line of the stochastic oscillator completed a bearish crossover with the %D line. Should prices decline further, immediate support could be [..]

European Open Preview – Yen gains support on trade tensions

Posted on August 6, 2018 at 7:45 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is nearly 0.2% higher on Monday, in the aftermath of the US jobs report on Friday, which was slightly softer than consensus expectations, but still relatively strong overall. Meanwhile, the Japanese yen, attracted some safe-haven flows on Friday, ending the day higher across the board after China unveiled a list of $60bn worth of US goods it plans to impose tariffs on. STOCKS: Wall Street closed higher on Friday, undeterred by the [..]

US Open Preview – Dollar in quiet trade ahead of Nonfarm payrolls

Posted on August 3, 2018 at 11:10 am GMT

Here are the latest developments in global markets: FOREX: Ahead of the all-important Nonfarm payrolls the dollar index, which gauges the greenback’s strength versus six major currencies hit a fresh two-week high of 95.36 early on Friday before it fell back to 95.24 (+0.08%). Dollar/yen was trading 0.05% higher on the day around 111.70, and is set to complete a green day after two consecutive negative sessions. Turning to the euro area, retail sales grew less than expected in June and July’s final services PMI readings [..]

European Open Preview – Dollar stands at 2-week highs ahead of US jobs report

Posted on August 3, 2018 at 8:10 am GMT

Here are the latest developments in global markets: FOREX: The dollar was up on the margin versus a basket of currencies on Friday and at a two-week high after rising considerably on Thursday. The outcome of the US jobs report due later today, as well as any developments on global trade may constitute the next catalysts to steer the currency in either direction. STOCKS: The Dow Jones finished Thursday’s trading marginally lower, with the S&P 500 and Nasdaq Composite edging higher by 0.5% and 1.2%. [..]

US Open Preview – Pound under pressure ahead of BoE rate decision

Posted on August 2, 2018 at 10:55 am GMT

Here the latest developments in global markets: FOREX: The US dollar index, which measures the greenback against a basket of six currencies, advanced by 0.39% and touched a two-week high near 95.00 on Thursday. Dollar/yen was weaker on Thursday at 111.49 (-0.20%) despite the Fed reiterating that US economic growth has been rising strongly and the job market has continued to strengthen. Yesterday, the 10-year Japanese government bond yield reached a fresh one-and-a-half-year high, following the Bank of Japan’s decision to allow more flexibility in yield [..]

European Open Preview – Dollar continues advancing, buoyed be upbeat Fed; Bank of England and trade tensions in focus

Posted on August 2, 2018 at 8:05 am GMT

Here are the latest developments in global markets: FOREX: The dollar’s index against a basket of currencies was on its third straight day of advancing on Thursday – up by a bit less than 0.2% – after it was supported the previous day by the Federal Reserve’s positive assessment of the US economy. STOCKS: The Dow Jones and the S&P 500 retreated by 0.3% and 0.1% respectively on Wednesday, as US-China trade tensions which were front and center weighed on [..]

US Open Preview – Dollar inches up as Fed takes center stage

Posted on August 1, 2018 at 11:05 am GMT

Here are the latest developments in global markets: FOREX: The US dollar continued the bullish movement today against the Japanese yen (+0.05%), near 112.00, while tariffs returned to the spotlight as the US and China were reportedly seeking to resume talks to find common ground on trade. The main event of the day will be the FOMC monetary policy decision later in the day. In the Eurozone, the final IHS Markit manufacturing PMI posted a reading of 55.1 in July, unchanged from [..]

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