All Articles Tagged - gold

Can upcoming risk events break gold out of its lull? – Commodity News

Posted on June 7, 2018 at 12:58 pm GMT

Gold prices have continued trading in a quiet manner, unable to break the narrow range that has been established in recent weeks. While the geopolitical arena seems to be posing less of a risk for markets, developments around global trade have not been as encouraging, leaving investors with little motivation to alter their exposure to havens like gold. That might change soon though, depending on how the US-North Korea summit and the upcoming Fed meeting play out, alongside whether the [..]

US Open Preview – Dollar takes the back seat as euro, pound move forward

Posted on June 7, 2018 at 11:16 am GMT

Here are the latest developments in global markets: FOREX: The euro kept shining during the early European afternoon as yesterday’s comments by ECB officials raised speculation that the central bank was preparing to exit its quantitative program by the end of this year, with the announcement probably coming as soon as next week. Euro/dollar managed to peak at a fresh three-week high of 1.1837 before it fell to 1.1815 (+0.39%), being the best performer among its major peers. Against the yen, [..]

European Open Preview – Euro rebound rejuvenated as ECB teases taper; revised eurozone GDP numbers due

Posted on June 7, 2018 at 7:51 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is 0.2% lower on Thursday, extending the losses it posted in the previous session as the euro continued to recover. The euro’s rebound was refueled by some ECB policymakers, who signaled their confidence in the economic outlook, and heightened speculation that an end-date for the QE program could be announced as soon as next week. STOCKS: Wall Street closed higher on Wednesday, shrugging off the mounting uncertainties around global [..]

US Open Preview – Euro up as ECB officials see end of QE

Posted on June 6, 2018 at 11:47 am GMT

Here are the latest developments in global markets: FOREX: The dollar unlocked a fresh two-week high of 110.14 (+0.31%) against the Japanese yen early in the European afternoon as another round of data released yesterday enhanced once again optimism on the US economy despite trade risks hanging in the background. The dollar index, though, which gauges the strength of the dollar versus six major currencies was down on the day at 93.68 (-0.23%) thanks to the rising euro and pound. Euro/dollar [..]

European Open Preview – Euro recovery refueled by ECB speculation; trade developments continue to dominate attention

Posted on June 6, 2018 at 7:49 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is trading 0.1% lower on Wednesday, looking set to post its third consecutive day of declines. The euro continued to recover amid speculation around an ECB QE announcement coming sooner rather than later, while the Canadian dollar went for a ride following mixed signals on NAFTA. STOCKS: Major US indices closed mixed yesterday, with the tech-heavy Nasdaq Composite and the S&P 500 climbing by 0.41% and 0.07% respectively, [..]

US Open Preview – Pound wins on services PMI; oil down ahead of US oil inventories

Posted on June 5, 2018 at 11:44 am GMT

Here are the latest developments in global markets: FOREX: The British pound was the best performer during the early European afternoon, trading 0.55% higher against the dollar on the day at 1.3387 after the UK’s services PMI reading rose more than expected. This was also perceived as a sign of economic strength that could persuade BoE policymakers to raise interest rates in August. Versus the Japanese yen, sterling picked up by 0.44% to 146.80. On the other hand, an upward revision to previous Eurozone retail sales figures didn’t [..]

European Open Preview – Aussie recovers from RBA-induced losses; UK services PMI and EZ retail sales due

Posted on June 5, 2018 at 7:54 am GMT

Here are the latest developments in global markets: FOREX: The dollar index, which gauges the greenback against six major currencies, was little changed on Tuesday. Meanwhile, the aussie recorded some losses after some RBA comments on the outlook for inflation supported lower rates for longer. Nevertheless, the currency managed to largely recover its earlier losses. STOCKS: Major US indices finished in the green yesterday, with the Dow and the Nasdaq Composite adding 0.7% and the S&P 500 rising by 0.45%. [..]

US Open Preview – Euro heads north as investors’ rate optimism resumes; RBA rate decision next

Posted on June 4, 2018 at 11:58 am GMT

Here are the latest developments in global markets: FOREX: The Australian dollar continued to outperform its peers rallying by 1.12% against its US counterpart and by 1.20% against the Japanese yen as upbeat retail sales readings and business inventories raised growth prospects ahead of the release of Q1 GDP growth on Wednesday. Its New Zealand cousin was also moving higher, elevated by 0.82% versus the greenback, despite markets in New Zealand being closed for public holiday. Euro/dollar and euro/yen climbed to 1 ½-week highs [..]

Technical Analysis – Gold maintains weak bias in near term; broader trend is neutral

Posted on June 4, 2018 at 8:45 am GMT

Gold remains under pressure and risk is still to the downside as prices continue to drift lower from the 1300 psychological level. It is worth mentioning that the precious metal has been developing within a sideways channel since May 23 with upper boundary the 1307.50 resistance level and lower boundary the 1289 support barrier. The short-term technical indicators are bearish and point to more weakness in the market. Looking at the 4-hour chart, gold prices are looking capped by the [..]

European Open Preview – Aussie gains on retail sales beat; trade developments remain in focus

Posted on June 4, 2018 at 7:56 am GMT

Here are the latest developments in global markets: FOREX: The dollar eased a bit versus a basket of currencies on Monday after being boosted on Friday on the back of a largely upbeat US employment report. The aussie was a notable outperformer versus the greenback, being helped by better-than-expected Australian retail sales data. STOCKS: Wall Street’s major benchmarks closed considerably higher on Friday, with the positive sentiment carrying through to today’s Asian session. The Japanese Nikkei 225 and Topix indices [..]

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