All Articles Tagged - gold

European Open Preview – Yen bulls remain in charge; UK manufacturing output due

Posted on January 10, 2018 at 8:47 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index was marginally lower on Wednesday, after previously trading higher for three days in a row. STOCKS: Asian markets were mixed, with Japan’s Nikkei 225 declining by more than 0.2%, pulling back from the 26-year high it reached earlier in the week, though still remaining close to those multi-decade high levels. Meanwhile, the Topix added 0.15% while in Hong Kong, the Hang Seng was higher by 0.4%. In Europe, [..]

US Open Preview– Dollar index crawls up ahead of JOLTs job openings; European stocks drift higher

Posted on January 9, 2018 at 12:26 pm GMT

Here are the latest developments in global markets: FOREX: The dollar pared some losses versus the yen, crawling up to 112.80 (-0.25%) after a trim of bond buying from the BOJ send the currency to a five-day low earlier in the day. Euro/dollar moved further down to 1.1924 (-0.33%) probably due to investors engaging in profit-taking, while pound/dollar corrected lower towards 1.3530 (-0.27%) on the back of a stronger greenback. The dollar index peaked at a 1 ½-week high of 92.30. [..]

European Open Preview – Yen bounces up on BoJ operations; eurozone unemployment expected at lowest since 2009

Posted on January 9, 2018 at 8:41 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 – traded slightly lower on Tuesday, after posting some gains on Monday. STOCKS: Asian markets extended their recent winning streak, with Japan’s Nikkei 225 and Topix indices trading higher by 0.6% and 0.5% respectively as the nation returned from a holiday; both indices hovered near multi-decade highs. In Hong Kong, the Hang Seng climbed 0.3%, while [..]

US Open Preview – Euro shrugs off data; European stocks hit fresh highs

Posted on January 8, 2018 at 12:27 pm GMT

Here are the latest developments in global markets: FOREX: Encouraging data out of the Eurozone including on retail sales and economic sentiment did little for the euro which pared a small part of earlier losses in the wake of the figures. Euro/dollar continued to trade weaker, slightly below the 1.20 handle (-0.32%) as traders engaged in profit-taking. This compares to last week’s four-month peak of 1.2089. On the other hand, the UK’s disappointing housing figures kept the pound under pressure, with pound/dollar remaining close to intraday [..]

Technical Analysis – Gold turns bullish after breach of key 1300 level; consolidates in near term

Posted on January 8, 2018 at 9:24 am GMT

Gold is starting to see immediate pressure to the downside after struggling to hold gains above the key 1320 level. The commodity weakened following the peak just below 1326 and then turned lower to stabilize around 1316. Looking at the 4-hour chart, the immediate focus is near the 1306 level, which has provided support recently. Major support is seen at the key psychological level at 1300. Falling below this would erase the short-term bullish outlook. The RSI and stochastic are [..]

European Open Preview – Dollar recovers following decline caused by NFP; eurozone retail sales due

Posted on January 8, 2018 at 8:40 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index traded 0.2% higher during the Asian trading session Monday, recovering the losses it posted on Friday following the slightly softer-than-anticipated US employment report. STOCKS: In Asia, Hong Kong’s Hang Seng was up 0.2% while China’s CSI 300 was 0.5% higher. Meanwhile, Japanese equity markets remained closed today for the Coming of Age holiday. In Europe, futures tracking the Euro Stoxx 50 are currently up by 0.4%. The three major [..]

Special Report – Will gold shine even brighter in 2018?

Posted on January 5, 2018 at 3:12 pm GMT

Gold was one of the main winners of 2017. Intensifying geopolitical tensions, particularly on the Korean peninsula and in the Middle East, combined with the dollar’s sharp plunge helped gold prices to finish the year more than 13% higher. Heading into 2018, the outlook for the precious metal continues to appear positive, as geopolitical risks are unlikely to go away anytime soon, and the US dollar does not seem ready to make a strong comeback yet. Trying to forecast geopolitical [..]

European Open Preview – Dollar subdued as US equities hit new highs; US jobs report dominates attention

Posted on January 5, 2018 at 8:44 am GMT

Here are the latest developments in global markets: FOREX: The dollar index traded 0.1% higher during the Asian trading session Friday, after posting notable losses on Thursday. STOCKS: The three major US equity indices – Dow Jones, S&P 500, and Nasdaq Composite – closed at fresh records again yesterday, with the Dow finishing above the 25,000 milestone for the first time. Futures tracking the Dow, S&P, and Nasdaq 100 are currently in the green as well. This positive sentiment rolled over [..]

Technical Analysis – Gold corrects downwards; will bullish run resume?

Posted on January 4, 2018 at 12:38 pm GMT

Gold had edged lower since Wednesday’s trading session as the recovery of the greenback caused the sell-off of the metal. The price had posted an aggressive bullish run during the previous three weeks following the rebound on the 1236 support level, which overlaps with the ascending trend line taken from the low of December 15, 2016. The precious metal recorded a new 16-week high at 1321.28 yesterday. As long as the price continues to trade above the uptrend line, the likelihood for the [..]

US Open Preview– Eurozone data push euro and stocks higher; ADP employment report in focus

Posted on January 4, 2018 at 12:25 pm GMT

Here are the latest developments in global markets: FOREX: Upbeat data on December’s composite PMI for the Eurozone published on Thursday lifted euro/dollar towards 1.2052 (+0.32%), reversing most of yesterday’s losses as the figures suggested a faster Q4 growth for the region. Pound/dollar also gained from better-than-expected survey data, rising to 1.3554 (+0.24%). The dollar, on the other hand, was in the backfoot against six major currencies at 91.95 (-0.23%) unable to gain further from Wednesday’s economic numbers and Fed meeting [..]

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