All Articles Tagged - gold

US Open Preview – Dollar up, gold & yen down despite trade fears; BoC rate decision pending

Posted on July 11, 2018 at 12:06 pm GMT

Here are the latest developments in global markets: FOREX: The US dollar continued its positive move (+0.23%) versus the Japanese yen on Wednesday and is set to post the third consecutive bullish day, while the US dollar index rose by 0.29%. Pound/dollar edged down by 0.25%, whilst euro/dollar dived by 0.35% to trade near the 1.1700 psychological level. Commodity-linked currencies headed lower after Trump’s administration warned China with further tariff measures targeting $200 billion products imported from the country. Aussie/dollar tumbled by 0.91% [..]

European Open Preview – Asian equities tumble as trade tensions intensify; Bank of Canada rate decision eyed

Posted on July 11, 2018 at 7:47 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is practically flat on Wednesday, after posting some very modest gains in the previous session. Commodity-linked currencies like the aussie, kiwi, and loonie, are all lower, following news overnight that the US is planning another set of tariffs against China. STOCKS: US markets closed higher yesterday, with the Dow Jones and S&P 500 rising by 0.58% and 0.35% respectively, while the Nasdaq Composite managed to gain 0.04% as well. However, [..]

European Open Preview – Sterling dives amid UK political turmoil; UK manufacturing output due

Posted on July 10, 2018 at 7:47 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is a little more than 0.1% higher on Tuesday, trying to build on the modest gains it posted in the previous session. The British pound nosedived yesterday, following news that UK Foreign secretary Boris Johnson had resigned, with sterling/dollar also being 0.2% lower today. STOCKS: US markets closed higher on Monday, in the absence of any concerning trade-related headlines to dent risk appetite. The Dow Jones outperformed, gaining 1.31%, while the [..]

US Open Preview – Pound finds some buyers amid “smooth Brexit” speculation

Posted on July 9, 2018 at 11:33 am GMT

Here are the latest developments in global markets: FOREX: Sterling opened with a positive gap today, following news that the UK Brexit Secretary, David Davis, has resigned. UK Prime Minister Theresa May appeared to have agreed with her cabinet on the Brexit plan on Friday. On Monday, pound/dollar advanced by 0.42%, rising to a 3-week high of 1.3362, with Dominic Raab being appointed new Brexit Minister. The US dollar underperformed on Friday and Monday against a basket of six major currencies, as the US jobs report was [..]

Technical Analysis – Gold manages to pick up speed; posts 2-week high

Posted on July 9, 2018 at 8:24 am GMT

Gold has created a new two-week high of 1262.13 over today’s European session and is trying to have a session close above the 1261 barrier in the 4-hour chart. The technical indicators are sending bullish signals, supporting the upside movement in price action and suggesting that the softness may come to an end. The Relative Strength Index (RSI) is moving towards the threshold of 70, while the %K line of the stochastic oscillator is approaching the overbought zone with the %D line. If the market manages [..]

European Open Preview – Sterling in focus as UK Brexit chief resigns

Posted on July 9, 2018 at 7:47 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index – which measures the greenback’s performance against a basket of six major currencies – is down by 0.23% on Monday, following a slightly disappointing US employment report on Friday. Elsewhere, pound/dollar is up by the same amount, after the UK Brexit Secretary David Davis resigned his post. STOCKS: Wall Street indices closed higher on Friday, after the US employment report for June showed that wage growth remains subdued. The tech-heavy Nasdaq Composite [..]

US Open Preview – Dollar moves with caution ahead of NFP employment report

Posted on July 6, 2018 at 11:29 am GMT

Here are the latest developments in global markets: FOREX: The US started collecting a 25% import tariff on Chinese products worth $34 billion on Friday midnight. According to media, China has immediately activated its countermeasures today as well, with dollar/yen remaining unaffected at 110.63 (+0.01%) as investors have already priced in the news, turning focus to the all-important NFP employment report due later on Friday instead. The dollar index, though, which gauges the greenback’s strength against six major currencies was struggling [..]

European Open Preview – Markets mostly calm as US fires first trade shot; US jobs data eyed

Posted on July 6, 2018 at 7:46 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is down by almost 0.2% on Friday, ahead of the release of the US employment report for June later today. Meanwhile, the safe-haven Japanese yen is on the back foot, with investors appearing largely unfazed by a possible escalation in the US-China trade saga (see below). STOCKS: US equity markets closed higher on Thursday, undeterred by the looming threat of the US and China exchanging tariffs on Friday. The Nasdaq Composite led [..]

US Open Preview – German data and trade hopes send euro to 1-week highs; FOMC meeting minutes in focus

Posted on July 5, 2018 at 11:30 am GMT

Here are the latest developments in global markets: FOREX: The dollar was erasing yesterday’s losses made against the Japanese yen, last seen at 110.62 (+0.16%) as investors were optimistic that the FOMC meeting minutes due later today would deliver an overall hawkish message after June’s gathering signaled four rate hikes in total this year instead of three previously. The dollar index though was on the backfoot at 94.30 (-0.37%), pressured by a stronger euro and pound. Euro/dollar rallied significantly to touch a more-than-a [..]

European Open Preview – ECB speculation gives euro a helping hand; Fed minutes in focus

Posted on July 5, 2018 at 7:44 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is down by 0.3% on Thursday, ahead of the release of the minutes from the June FOMC meeting later today. Meanwhile, the euro is recovering ground following media reports that ECB officials think the market is underestimating the Bank’s rate-hike path. STOCKS: US equity markets remained closed in celebration of the Independence Day public holiday yesterday. Futures suggest the S&P 500, Dow Jones, and Nasdaq 100, are set to open [..]

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