All Articles Tagged - gold

Market Comment – Core PCE inflation takes center stage

Posted on March 29, 2024 at 9:10 am GMT

Dollar extends advance ahead of core PCE data Dollar/yen stays on intervention watch S&P 500 secures strongest Q1 in five years Gold stretches to new record high Will PCE data point to sticky inflation? The US dollar continued outperforming most of its major peers on Thursday as the upside revision of the US GDP data for Q4 added more credence to Fed Governor Waller’s view that the Fed should not rush into lowering interest rates. Today, dollar traders have turned [..]

Market Comment – Fed’s Waller fuels the dollar, yen intervention warnings intensify

Posted on March 28, 2024 at 9:34 am GMT

Fed Gov. Waller says no rush to lower rates June rate cut probability declines, dollar gains Yen recovers on stronger intervention warnings Wall Street and gold trade north Dollar gains as Waller signals patience The US dollar finished Wednesday slightly higher against all but one of its major peers and continues to trade on the front foot on Thursday as well. The only currency versus which it lost ground yesterday was the Japanese yen. The greenback started the day on [..]

Technical Analysis – Gold battles with previous highs

Posted on March 27, 2024 at 10:24 am GMT

Gold remains above SMAs and close to 2,200 MACD strengthens its momentum Gold prices continue to rise above the short-term simple moving averages (SMAs), stretching the upward pattern towards the record high of 2,222.68. According to the MACD, positive momentum could push for further gains in the short-term as the indicator picks up steam above its red signal line. The RSI is also advancing above the 50 level. Moving higher, immediate resistance could be faced near the 2,200 round number, ahead of [..]

Market Comment – Yen sinks to intervention ‘danger zone’

Posted on March 27, 2024 at 9:43 am GMT

Yen slips to new 34-year low, drawing stronger intervention threats Swiss franc loses ground too, dollar rebounds after solid US data Gold steady near record highs, chipmakers weigh on stock markets Yen hits the danger zone Currency traders are dusting off their FX intervention playbooks after the Japanese yen briefly fell to its lowest levels since 1990 against the dollar, drawing fierce warnings from officials in Tokyo that they could step in to defend the currency. Dollar/yen is currently flirting [..]

Weekly Technical Outlook – USDJPY, EURUSD, Gold

Posted on March 26, 2024 at 1:47 pm GMT

USDJPY consolidates gains after touching important resistance EURUSD begins to recover, but threats remain Will gold’s bull run take a breather after record high? Core PCE inflation –> USDJPY The Bank of Japan’s decision to exit negative interest rates did not provide a helping hand to the yen. Neither did the Fed’s unchanged projections of three rate cuts in 2024 weigh harshly on the US dollar, with USDJPY barely losing ground within the 151.00 territory after marking a new [..]

Market Comment – Yen stabilizes as Japan ramps up intervention warning

Posted on March 26, 2024 at 9:45 am GMT

Threats of FX intervention help yen to stabilize near three-decade lows Dollar and stocks take a step back, Bitcoin jumps in anticipation of halving Shortage of liquidity could be an important market theme this week Yen on intervention watch Authorities in Japan issued another round of warnings to defend the sinking yen, which fell towards its lowest levels in three decades last week, even after the Bank of Japan raised interest rates out of negative territory. Finance minister Suzuki said [..]

Technical Analysis – Gold pulls back from all-time high

Posted on March 25, 2024 at 9:46 am GMT

Gold moves horizontally within 2,145-2,195 MACD and RSI lose steam Gold prices have been moving lower over the last couple of days after the bullish spike towards the all-time high of 2,222.68 that was posted in the preceding week. The market has been developing within a narrow range of 2,145 to 2,195 since March 7 with the technical oscillators confirming a weakening bias. The MACD is holding beneath its trigger line well above the zero level, while the RSI is [..]

Market Comment – Stocks at fresh records even as dollar bounces back

Posted on March 22, 2024 at 10:38 am GMT

Wall Street leads rally in equity markets, fuelled by rate cut optimism But US dollar stages surprise rebound amid US exceptionalism Pound slides on BoE’s dovish tilt, yen steadies, PBOC loosens grip on yuan Equities buoyed as easing expectations gather pace Shares on Wall Street are headed for strong weekly gains following the conclusion of the March central bank meetings that cemented rate cut expectations for 2024. After the European Central Bank paved the way for lower rates at the [..]

Does the Easter break affect markets? – Special Report

Posted on March 21, 2024 at 3:46 pm GMT

Oil prices tends to rally before and after Easter Sunday Euro/dollar’s performance becomes clearer when drilling down the data Patterns emerge when focusing only on Easter Sunday occurring in March Most participants who trade based on seasonal patterns, enjoy combining the market’s performance with certain events like the Christmas and Easter breaks. This report focuses on the performance of certain key market assets: (1) during the final week before Easter Sunday, (2) the first week after Easter, (3) 30 days [..]

Market Comment – Dollar tumbles as Fed still sees three rate cuts this year

Posted on March 21, 2024 at 9:16 am GMT

Fed’s updated dot plot continues to suggest three rate cuts in 2024 Dollar tumbles across the board, June cut probability rises Pound traders lock gaze on BoE, SNB cuts interest rates S&P 500, Dow Jones and gold hit new record highs Dollar falls on dovish Fed The US dollar tumbled across the board on Wednesday after the Fed’s new projections revealed that officials are still expecting three quarter-point rate cuts in 2024. The greenback has been in a recovery mode [..]

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