All Articles Tagged - gold

Market Comment – S&P 500 hits 5,000 milestone as US CPI awaited

Posted on February 12, 2024 at 10:15 am GMT

Fading rate cut bets fail to deter tech rally as S&P 500 tops 5,000 Relief as no major changes in annual US CPI revisions, January report eyed next Dollar drifts sideways in thin trading amid holidays across Asia Tech boom leads S&P 500 to new record Shares on Wall Street extended their record streak last week as upbeat earnings as well as relief that the annual review of the US consumer price index left the inflation trend largely unchanged offset [..]

Technical Analysis – Gold slides below 50-day SMA, hitting ascending trendline

Posted on February 12, 2024 at 8:05 am GMT

Gold trades sideways in the past week Closes profoundly below the 50-day SMA on Friday Momentum indicators turn negative Gold has been rangebound in the past few trading sessions, following its rejection at the 2,065 mark on February 1. However, on Friday, the price dived beneath the 50-day simple moving average (SMA) before finding its feet at the ascending trendline that connects higher lows since December. If bearish pressures persist, the price could initially test the recent support of 2,020. Breaking below [..]

Market Comment – Dollar’s retreat propels S&P 500 to new record

Posted on February 8, 2024 at 9:35 am GMT

Dollar extends retreat as traders await next catalyst Yen slides as BoJ signals no rush to raise interest rates Chinese markets supported by more stabilizing efforts Wall Street rallies, gold holds steady, oil gains Dollar weakens despite Collins pushing back on rate cut bets The US dollar continued pulling back against most of its major peers on Wednesday, gaining only against the yen and the franc. The main gainer was the kiwi, perhaps as New Zealand’s better-than-expected jobs data prompted [..]

Market Comment – Dollar pulls back, kiwi and aussie the main gainers

Posted on February 7, 2024 at 9:18 am GMT

Dollar slides, but uptrend remains intact Kiwi gains on China news and New Zealand jobs data Aussie also higher as RBA maintains tightening bias Wall Street trades in the green, gold rebounds US dollar corrects lower as traders secure profit The US dollar pulled back against all its major counterparts on Tuesday, with the main gainers being the kiwi, the aussie, the pound and the yen in that order. With no fundamental catalyst to drive the greenback lower, its pullback [..]

Market Comment – Gold struggles as solid US data propel dollar higher

Posted on February 6, 2024 at 9:43 am GMT

Gold edges lower, dollar shines after another round of rosy US data Australian dollar recovers on RBA decision and China stimulus hopes Shares on Wall Street lose momentum, but remain near record highs Traders recalibrate Fed rate path Another round of encouraging US data prompted traders to further scale back bets on Fed rate cuts, sending the dollar flying higher on Monday. One of the most important leading indicators of the US economy – the ISM non-manufacturing survey – pointed [..]

Technical Analysis – Gold flips backwards but still shines above 2,000

Posted on February 6, 2024 at 8:44 am GMT

Gold loses ground after hitting tough resistance Lacks bullish signals but pattern of higher lows remains intact Gold could not mark a new higher high above January’s tough resistance of 2,065, correcting lower to close around its 50-day exponential moving average (EMA) and the support trendline from November at 2,025. The latest downturn in the technical indicators has increased downside risks, but the series of higher lows that started in October keeps feeding hopes for a bullish continuation as long as [..]

S&P 500 at all-time highs, expected to make bigger moves ahead – Volatility report

Posted on February 6, 2024 at 8:39 am GMT

Volatility remains low across the FX spectrum with the exception of EUR/USD Gold volatility drops but silver remains at its midpoint; oil and Bitcoin set for small moves S&P 500 volatility rises significantly; remaining stock indices in calmer waters Volatility in EUR/USD has jumped as the pair recorded a sizeable correction last week following some key data releases. The remaining currencies covered in this report, including the yen crosses, are expected by the market to record small price movements going [..]

Market Comment – Stocks rally ahead of NFP report, pound climbs after BoE caution

Posted on February 2, 2024 at 10:35 am GMT

Wall Street bounces back as earnings beats more than offset disappointments Dollar struggles as mixed US data sets the tone ahead of January jobs report Pound edges up after Bank of England’s Bailey urges caution over rate cuts Wall Street shrugs off blurry outlook Wall Street staged a comeback on Thursday after suffering its worst day since September in the aftermath of the FOMC decision on Wednesday. There was no clear catalyst for yesterday’s rebound as neither the data nor [..]

Technical Analysis – Gold develops ascending triangle in near-term

Posted on January 31, 2024 at 8:21 am GMT

Gold struggles to surpass 2,037 and 200-period SMA RSI and MACD move horizontally Short-term outlook looks neutral-to-bullish Gold prices are flirting with the 2,037 resistance level and the 200-period simple moving average (SMA) in the 4-hour chart, creating an ascending triangle. Technically, the RSI is moving horizontally above the 50 level, while the MACD is standing slightly above its trigger line in the positive territory, both confirming the recent weak momentum in price. On the upside, the price could attempt [..]

Market Comment – Wall Street hits record as yields slide ahead of tech earnings, Fed decision

Posted on January 30, 2024 at 10:28 am GMT

S&P 500 closes at all time high as yields fall after Treasury cuts borrowing estimate But worries grow about China’s economy amid Evergrande fallout Euro steadies as Eurozone dodges a recession Dollar and gold hold within range as ME crisis, Fed angst keep investors on edge Another day, another record for Wall Street Shares on Wall Street surged on Monday after the US Treasury said it will borrow less in the current quarter than what it had estimated back in [..]

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