All Articles Tagged - gold

European Open Preview – Dollar falls versus yen with trade worries back in the forefront; SNB & Norges Bank decisions eyed

Posted on March 15, 2018 at 8:28 am GMT

Here are the latest developments in global markets: FOREX: The dollar was roughly flat versus a basket of currencies on Thursday, though it was losing ground versus the safe-haven perceived yen as risk sentiment was dented on worries over rising trade tensions. Elsewhere, the kiwi came under pressure after New Zealand’s growth numbers fell short of forecasts. STOCKS: US markets closed lower yesterday, as concerns over the possibility of a trade war with China continued to undermine risk appetite. The [..]

US Open Preview – Euro retreats after Draghi’s dovish remarks; New Zealand GDP growth in focus

Posted on March 14, 2018 at 12:12 pm GMT

Here are the latest developments in global markets: FOREX: The dollar index managed to erase part of yesterday’s losses during early European afternoon, inching up to 89.79 (+0.12%) despite the political chaos in the White House and renewed concerns over an escalation in US-China trade relations ahead of a crucial G20 meeting next week where leaders are expected to criticize unfair trade practices. In response to rhetorics that Trump was planning to impose further import tariffs on China, the latter [..]

European Open Preview – Dollar falls after yet another Trump team shakeup; US data and trade concerns in focus

Posted on March 14, 2018 at 8:51 am GMT

Here are the latest developments in global markets: FOREX: The dollar was little changed versus a basket of currencies on Wednesday after retreating following the departure of Rex Tillerson from the position of US Secretary of State on Tuesday. STOCKS: US markets closed lower yesterday, as news that US Secretary of State Rex Tillerson had been fired increased political uncertainty, and reports that the US is preparing new tariffs against China curbed risk appetite. The Nasdaq Composite led the way [..]

US Open Preview – Dollar climbs ahead of US CPI figures; European stocks edge up

Posted on March 13, 2018 at 12:12 pm GMT

Here are the latest developments in global markets: FOREX: Political scandals surrounding the Japanese Finance Minister regarding a discounted sale of state-owned land continued to pressure the yen during the European afternoon, sending dollar/yen to 107.60 (+0.80%) ahead of the release of US CPI figures which have the potential to alter risk appetite in the market. The dollar index edged up to 89.98 (+0.13%). Pound/dollar was moving sideways around 1.3880 (-0.12%), shrugging off remarks expressed by the EU Brexit negotiator Michel [..]

European Open Preview – Yen weakens on politics; all eyes on US inflation

Posted on March 13, 2018 at 8:47 am GMT

Here are the latest developments in global markets: FOREX: The dollar was trading higher versus a basket of currencies on Tuesday, posting notable gains against the yen in the midst of a political scandal in Japan that raises questions about the government’s ability to deliver moving forward. STOCKS: US markets were mixed yesterday. The Nasdaq Composite closed 0.4% higher, reaching another record high, but the S&P 500 and the Dow Jones fell by 0.1% and 0.6% respectively. Futures tracking the [..]

US Open Preview – Dollar little changed, awaits fresh drivers; Stoxx 600 records near 2-week high

Posted on March 12, 2018 at 12:10 pm GMT

Here are the latest developments in global markets: FOREX: The dollar was slightly higher versus a basket of currencies, recovering from losses recorded earlier in the day – the dollar index rose back above the 90 level. Dollar/yen was 0.2% lower at 106.55 amid a suspected cronyism scandal in Japan implicating Finance Minister Taro Aso. Euro/dollar and pound/dollar were little changed in anticipation of fresh catalysts. The aussie and the kiwi remained elevated versus their US counterpart, though they gave [..]

Technical Analysis – Gold bearish structure remains in focus; slips below 23.6% Fibonacci retracement level

Posted on March 12, 2018 at 12:04 pm GMT

Gold is posting a bearish day after finding resistance at the 40-simple moving average in the 4-hour chart. Moreover, the price dropped below the 23.6% Fibonacci retracement level at 1317.80 of the downleg from 1366 to 1303, endorsing the scenario for further losses. Looking at the 4-hour chart, the Relative Strength Index (RSI) is sloping to the downside in the negative territory, while the MACD oscillator created a bearish cross within its moving averages below the zero line, signaling the downside movement is continuing. The [..]

European Open Preview – Dollar falls with inflation figures the next catalyst; equities on the rise

Posted on March 12, 2018 at 8:55 am GMT

Here are the latest developments in global markets: FOREX: The dollar was losing some ground versus a basket of currencies on Monday after recording its highest since March 1 last Friday, the day February’s US employment data showed stronger-than-anticipated jobs growth. STOCKS: US markets surged on Friday on the back of the US employment report, which showed that wage growth remains subdued. The disappointing earnings figures suggest that there is little pressure on the Fed to raise rates aggressively, a factor that boosted risk [..]

Special Report – The “winners” and the losers of a potential trade war

Posted on March 9, 2018 at 2:06 pm GMT

Talks of a trade war have been dominating headlines in recent days, with investors being spooked that the latest US tariffs could spark retaliation from other major economies. The “good news” is that recent price action has given us a taste of what to expect in financial markets should the situation escalate from here. Blink and you missed it. That is how quickly trade-related headlines have been hitting the wires recently, and how sharply markets have been responding to them. [..]

US Open Preview – Dollar enjoys support from risk appetite ahead of NFP report; European stocks weaker

Posted on March 9, 2018 at 12:37 pm GMT

Here are the latest developments in global markets: FOREX: Trump’s decision to exempt the US’ close trade allies Canada and Mexico from hefty import tariffs on steel and aluminum yesterday, while leaving the door open to other countries, and the announcement that he has accepted the invitation to meet the North Korean leader, Kim Yong Un, continued to support the dollar during the European trading session. The dollar index retained its gains from yesterday, last trading at 90.24 (+0.07%), whilst dollar/yen was enjoying gains at 106.77 (+0.54%) ahead of [..]

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