All Articles Tagged - gold

US Open Preview – Dollar up on yen despite trade noise; NFP employment report the next challenge

Posted on June 1, 2018 at 11:43 am GMT

Here are the latest developments in global markets: FOREX: The US dollar edged higher by 0.38% on Friday against the Japanese yen and jumped above the 109.00 psychological level ahead of the US employment report for May later in the day. It is the last NFP data before the June Fed meeting. The US dollar index – which tracks the greenback’s performance versus a basket of six major currencies – traded slightly higher by 0.07% at 94.05. Meanwhile, euro/dollar is poised to post its first week [..]

European Open Preview – Trade tensions escalate as political risks fade; US jobs figures the data-highlight

Posted on June 1, 2018 at 7:50 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is a little more than 0.1% higher on Friday, ahead of the release of the always-important US employment report at 1230 GMT. Elsewhere, the Canadian dollar dived yesterday following discouraging news on the trade front, while the euro continued to regain ground as Italy’s political impasse came to an end. STOCKS: Wall Street closed lower on Thursday, as an escalation of trade tensions suppressed risk appetite. The Dow Jones [..]

US Open Preview – Euro holds up on political relief; US core PCE inflation ahead

Posted on May 31, 2018 at 11:42 am GMT

Here are the latest developments in global markets: FOREX: The euro extended its gains on Thursday by 0.33% against the US dollar as Italian bond yields fell amid signs that Italy is trying to form a government, potentially avoiding an early election. In terms of data, the Eurozone CPI rose by 1.9% y/y in May above April’s growth mark of 1.2%, while the unemployment rate decreased to 8.5% in April, following an upwardly revised 8.6% in March, compared with the forecast of 8.4%. Dollar/yen moved lower by [..]

European Open Preview – Euro rebounds as Italian risks recede for now; inflation data the next euro-mover

Posted on May 31, 2018 at 7:44 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index – which tracks the greenback’s performance versus a basket of six major currencies – was down by 0.2% on Thursday, extending the losses it posted the previous day. The pullback was mainly owed to a rebound in the euro, the currency that holds more than 50% of the weight in the dollar index. Meanwhile, the Canadian dollar surged following some hawkish hints from the nation’s central bank. STOCKS: [..]

European Open Preview – Euro catches its breath after slide; Bank of Canada decides

Posted on May 30, 2018 at 8:02 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is down by roughly 0.1% on Wednesday, giving back some of the gains it posted yesterday, when it touched its highest point since early November. Meanwhile, although the euro posted considerable losses yesterday, it has rebounded somewhat today, trading higher by 0.3% versus the yen and 0.25% against the dollar. STOCKS: Wall Street was slammed yesterday, with all major US indices posting hefty declines as Italy’s political [..]

Technical Analysis – Gold back above 1300 but lacks direction

Posted on May 29, 2018 at 3:37 pm GMT

Gold managed to bounce back above the 1300 key-level on Tuesday, though, the market continues to lack direction in the four-hour chart according to momentum indicators; the RSI continues to trend around its neutral threshold of 50, while the MACD is moving below its red signal line but above zero. In case the price corrects to the upside, resistance could run towards the upper bound of the Ichimoku cloud seen around 1303.83. Then a close above this level could drive the [..]

US Open Preview – Italian politics push euro to 10-month low versus the greenback; US consumer confidence due

Posted on May 29, 2018 at 11:08 am GMT

Here are the latest developments in global markets: FOREX: The euro continued to bleed as the European trading session unfolded, with euro/ dollar touching 1.1506 at its lowest, this being a nadir last experienced in July last year. Political uncertainty in Italy, and to a lesser extent in Spain, were seen as factors behind the common currency’s decline. The traditional safe-haven yen gained ground versus both the dollar and the euro, most notably the latter; euro/yen was down by more [..]

European Open Preview – Euro retreat in full swing as Italian political uncertainties dominate

Posted on May 29, 2018 at 7:47 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index – which tracks the greenback’s performance against a basket of six major currencies – edged 0.2% higher on Tuesday, touching its best levels since November. The euro meanwhile remained on the back foot, as the increasing probability for early elections in Italy dampened the currency’s appeal. STOCKS: US markets remained closed on Monday in celebration of the Memorial Day holiday. They look set to open lower today, as futures tracking [..]

Gold spikes higher: Dead cat bounce, or more upside in store? – Commodity News

Posted on May 25, 2018 at 1:26 pm GMT

Gold prices are practically flat in 2018, as concerns around geopolitics and trade that would typically boost demand for the precious metal have been counterbalanced by a resurgent US dollar. While more dollar strength may keep gold under some pressure in the near-term, it would not be surprising to see the metal come back in fashion later on, in case geopolitical tensions or the “trade war” escalate. Price action in gold has been a tale of two narratives this year. [..]

US Open Preview – Oil loses ground as Russia and Saudi Arabia discuss supply increases

Posted on May 25, 2018 at 11:37 am GMT

Here are the latest developments in global markets: FOREX: The US dollar rose 0.18% versus the yen after three straight days of declines. Meanwhile, the US dollar index jumped by 0.13% to 93.87. Euro/dollar fell by 0.09% and is set to complete the sixth week of declines in a row as concerns over Italy’s debt outlook weighed on sentiment. Pound/dollar moved lower by 0.21% to 1.3347 on Friday as investors eyed UK GDP data for signs of whether the BOE will raise interest rates. The British economy expanded 0.1% q/q [..]

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