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gold

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European Open Preview – Dollar climbs after jobs data; trade developments eyed

Posted on May 7, 2018 at 7:46 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is 0.1% higher on Monday, extending the gains it posted on Friday in the aftermath of the US employment report for April. The US unemployment rate touched a 17-year low, likely enhancing speculation that an ever-tightening labor market is set to push wages higher in the coming months – labor force participation did fall as well though. STOCKS: Wall Street closed higher on Friday, paring some early losses posted after the [..]

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US Open Preview – Greenback firms as markets await US employment data

Posted on May 4, 2018 at 11:20 am GMT

Here are the latest developments in global markets: FOREX: The dollar index, which gauges the greenback’s strength versus six major currencies, edged higher by 0.20% during the European session to 92.55, approaching the four-month high of 92.63 reached on Wednesday. Euro/dollar remained under selling pressure after Eurozone’s retail sales and final services PMI figures were weaker than expected, slipping by 0.23%. Meanwhile, dollar/yen retreated to 109.05 (-0.08%), with the focus remaining on whether US jobs data will provide the spark for [..]

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European Open Preview – Dollar eases off highs ahead of nonfarm payrolls

Posted on May 4, 2018 at 7:53 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is higher on Friday, but by less than 0.1%, recouping some of the losses it posted yesterday. Today, all eyes will be on the US employment data for April, and particularly on the wages component of that report. Sterling/dollar is down by 0.1%, with the British pound remaining under pressure as markets continue to price out expectations for a BoE rate hike next week. STOCKS: Wall Street closed [..]

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Gold retreats as “king dollar” returns, but risk events still loom – Commodity News

Posted on May 3, 2018 at 12:10 pm GMT

The past few weeks have not been kind to gold prices, which touched their lowest level in four months on Tuesday, as a cocktail of fading risks on the Korean peninsula and a recovering dollar curbed demand for the precious metal. While a resurgent dollar continues to pose downside risks for gold, there are several other political and geopolitical risk events that have the capacity to push prices higher should they materialize, most notably a potential escalation of tensions with [..]

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US Open Preview – Euro, pound lose momentum after data misses

Posted on May 3, 2018 at 11:31 am GMT

Here are the latest developments in global markets: FOREX: The US dollar continued to move lower during the early European session, deviating further below the 3-month high of 110.02 versus the yen reached during Wednesday’s European trading. Specifically, dollar/yen retreated to 109.49 (-0.32%), a day after the FOMC left interest rates unchanged. The accompanying statement acknowledged that inflation is close to target, signaling that policymakers would accept inflation surpassing the 2.0% target. However, a drop of a statement highlighting the [..]

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European Open Preview – Dollar trades like a rollercoaster after Fed; eurozone inflation coming up

Posted on May 3, 2018 at 7:46 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, was practically unchanged on Thursday after it touched its highest level in 2018 yesterday, in the aftermath of the Fed’s policy meeting. STOCKS: US markets closed lower yesterday, following the FOMC meeting. Although stock indices spiked higher immediately on the decision, that sentiment quickly turned around and equities edged lower to finish in the red. The S&P [..]

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US Open Preview – Dollar treads water ahead of FOMC rate decision; European stocks up

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

Here are the latest developments in global markets: FOREX: The US dollar managed to pare some losses against the Japanese yen made after it touched a 3-month high of 109.91 earlier in the day, rising to 109.83 (-0.02%). The dollar index, which gauges the greenback’s strength versus six major currencies, managed to hit a 4-month high of 92.56 on Tuesday, peaking above the 200-day moving average for the first time in a year but today the index was slightly lower at 92.36 [..]

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European Open Preview – Dollar climbs ahead of Fed decision; eurozone GDP eyed as well

Posted on May 2, 2018 at 7:51 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index continued to advance yesterday, reaching a fresh four-month high ahead of a policy decision by the Fed later today. Meanwhile, sterling came under renewed selling interest as UK data continued to disappoint, while the loonie experienced a very volatile session following some comments by BoC Governor Poloz. STOCKS: US markets closed mixed yesterday. The tech-heavy Nasdaq Composite climbed 0.91%, the S&P 500 gained 0.25%, while the Dow [..]

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US Open Preview – Dollar enjoys gains ahead of core PCE inflation

Posted on April 30, 2018 at 11:57 am GMT

Here are the latest developments in global markets: FOREX: The dollar index, which gauges the greenback’s strength versus six major currencies, edged up to 91.76 (+0.25%) during the early European afternoon, heading towards the 3 ½ -month high of 91.90 reached on Friday. Dollar/yen also climbed higher to touch an intra-day high of 109.29 ahead of the release of the core PCE index later today. On Wednesday, the Fed will announce its rate decision, while the famous Nonfarm payrolls will bring further volatility [..]

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

Posted on April 30, 2018 at 8:56 am GMT

Gold has plummeted during today’s European session after the bounce off the 1325.75 resistance level. It is worth mentioning that the price has been trading within a trading range since January 25 with the 1365 resistance level being the upper boundary and the 1307 support level the lower boundary as it lacks a clear trend. Technically, in the 4-hour chart, the RSI indicator is sloping to the downside and is approaching oversold levels, while the stochastic oscillator posted a bearish cross within the %K [..]

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