All Articles Tagged - gold

European Open Preview – Dollar bounces from 3-year lows; business surveys and dairy auction due

Posted on February 20, 2018 at 8:53 am GMT

Here are the latest developments in global markets: FOREX: The dollar index traded 0.4% higher on Tuesday, drawing some support from an uptick in the yields of longer-dated US Treasuries. The index rebounded on Friday after touching a fresh 3-year low, and has continued recovering since. STOCKS: US markets remained closed yesterday in celebration of the President’s Day holiday. Earlier on Friday, the S&P 500 and the Dow Jones closed marginally higher, though the Nasdaq Composite fell 0.2%. Moreover, futures tracking the S&P, [..]

US Open Preview – Dollar trapped in negative sentiment; European stocks set for weekly gains

Posted on February 16, 2018 at 12:30 pm GMT

Here are the latest developments in global markets: FOREX: Despite rising US Treasury yields, the dollar was under pressure against its major peers, with traders attributing the phenomenon to concerns surrounding a potential ballooning US debt and the expectations that other central banks could start raising rates amid higher inflation prospects. Dollar/yen tumbled to a fresh one-year low of 105.54 during the Asian session before it inched up to 106.17 (-0.04%) in early European trading. The dollar index was struggling to [..]

European Open Preview – Dollar sinks to 3-year low; UK retail sales eyed

Posted on February 16, 2018 at 8:43 am GMT

Here are the latest developments in global markets: FOREX: The dollar index traded almost 0.3% lower on Friday, adding to the losses it posted yesterday and recording a new three-year low. The continued slide in the world’s reverse currency managed to push euro/dollar to 1.2555 overnight, marking a fresh high last seen in 2014 for the pair. Meanwhile, dollar/yen posted a new 15-month low. STOCKS: US equity indices continued to recover yesterday, amplifying expectations that the recent turbulence may be gradually [..]

US Open Preview – Dollar holds weak amid debt concerns; European stocks extend gains

Posted on February 15, 2018 at 11:29 am GMT

Here are the latest developments in global markets: FOREX: Stronger-than-expected consumer prices on Wednesday failed to support the dollar, pushing it even lower on Thursday despite markets increasing their expectations on the number of rate hikes delivered by the Fed. Investors seem to be cautious as they worry that the US national debt could surge significantly on the face of massive tax cuts and the government’s two-year spending plan approved last week. Worse-than-expected US retail sales also dampened sentiment on [..]

European Open Preview – Dollar slides while stocks climb; jobless claims and IP gathering attention in the US

Posted on February 15, 2018 at 8:56 am GMT

Here are the latest developments in global markets: FOREX: The dollar index fell 0.4% on Thursday, extending the significant losses it posted on Wednesday in the aftermath of the US CPI and retail sales data. STOCKS: US markets finished the day notably higher yesterday, erasing earlier losses, despite the stronger-than-anticipated US inflation prints for January. The Nasdaq Composite led the charge, gaining almost 1.9%, while the S&P 500 followed in its tracks, closing 1.3% higher. The Dow Jones climbed 1.0%. Moreover, futures [..]

US Open Preview – Dollar struggles ahead of US CPI; European stocks bounce up

Posted on February 14, 2018 at 12:29 pm GMT

Here are the latest developments in global markets: FOREX: The dollar was struggling to pare today’s losses, after touching a more than a year-low of 106.83 versus the yen and reaching a one-week-low of 89.37 against a basket of major currencies earlier today. Dollar/yen crawled slowly up to 107.47 (-0.36%) and the dollar index recovered modestly towards 89.65 (-0.06%) ahead of the US CPI figures which have the potential to shake the currency. Meanwhile, the Japanese government argued during the [..]

European Open Preview – Dollar and stocks await directional clues from US inflation

Posted on February 14, 2018 at 8:26 am GMT

Here are the latest developments in global markets: FOREX: The dollar index traded 0.2% lower on Wednesday, ahead of key US inflation and retail sales data releases that could determine the currency’s short-term direction. STOCKS: US markets closed with modest gains on Tuesday, with investors appearing hesitant to take up large positions ahead of the US inflation data today, which could determine whether the recent turmoil will intensify or subside. The Nasdaq Composite was the leader of the pack, rising by [..]

US Open Preview – Dollar slips on banana peel as safe-havens cheer; European stocks lose ground

Posted on February 13, 2018 at 12:18 pm GMT

Here are the latest developments in global markets: FOREX: In currency markets, stronger-than-expected inflation figures in the UK justified the Bank of England’s potential plans to raise interest rates faster than expected, pushing pound/dollar towards a four-day high of 1.3923 (+0.49%). Pound/yen, though, recovered slightly to 149.62 but remained down on the day (-0.46%) as a rising yen weighed on the pair. Dollar/yen stretched down towards a new five-month trough of 107.41 (-0.97%) and dollar/swissie retreated to a one-week low of 0.9328 [..]

Technical Analysis – Gold is heading lower; looking bearish in short-term

Posted on February 12, 2018 at 2:17 pm GMT

Gold is trading lower following the strong pullback on the 1366 resistance level on January 25. Having a look at the short-term timeframe the price almost hit the 38.2% Fibonacci retracement near 1316 level of the last up-leg with the low of 1236 and the high of 1366. The bearish correction is confirmed by the near-term technical indicators. In the 4-hour chart, the RSI indicator is sloping to the downside below the 50 level, while the stochastic oscillator posted a bearish crossover [..]

US Open Preview – European equities broadly in the green; Wall Street looks set to open higher

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

Here are the latest developments in global markets: FOREX: The US currency remained lower on the day, with its broader gauge, the dollar index, being down by 0.3% around midday. The euro and sterling were advancing versus the greenback, after declining notably in the preceding week and recording multi-week lows. Specifically, euro/dollar shed 1.6% during the week ending February 9, experiencing its worst weekly performance since November 2016. Euro/dollar and pound/dollar were up by 0.3% and 0.2% at 1.2269 and 1.3869 respectively. [..]

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