All Articles Tagged - gold

European Session – Euro strengthens as Macron rises in the polls; Yellen in focus

Posted on March 3, 2017 at 4:50 pm GMT

Today’s European session was a relatively quiet one in terms of economic data with market participants mostly focusing on what’s to come later in the day, namely Fed Chair Janet Yellen’s speech in Chicago. Services PMI data, including the composite one for the Eurozone did gather some attention though. The US non-manufacturing PMI for February came in at a healthy 57.6, surpassing expectations and January’s 56.5. The figure points to growth in the services sector for the eighty-fifth month in [..]

FX Daily Outlook | 03-03-17

Posted on March 3, 2017 at 9:28 am GMT

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Asian Session – Dollar fades strength ahead of Fed Chair Yellen’s speech; yen gains after Japan CPI

Posted on March 3, 2017 at 8:29 am GMT

The dollar faded its recent strength that was driven by increasing confidence that the Federal Reserve will raise rates this month. The yen strengthened after four days of losses, following data that showed a moderate rise in Japanese inflation. Japan’s core CPI number rose 0.1% year-on-year in January and was the first increase since December 2015. It was expected to remain flat after a 0.2% decline in December. The uptick in inflation would be a relief for the Bank of Japan, although [..]

European Session – Dollar at 7-week high on strengthening prospects of March rate hike

Posted on March 2, 2017 at 4:02 pm GMT

March Fed rate hike expectations continued to drive the dollar higher in today’s European session, while in terms of economic data, weekly jobless claims out of the US, Eurozone inflation and unemployment rate data and Canadian GDP figures were of most interest. The number of US jobless claimants fell to 223,000 last week from 242,000 the previous week. This points to a healthy jobs market and marks a near forty-four-year low, while it was below analysts’ forecasts of a 243,000 [..]

FX Daily Outlook | 02-03-17

Posted on March 2, 2017 at 9:21 am GMT

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Asian Session – Dollar boosted by more hawkish Fed speak; Brainard lifts expectations of March rate hike

Posted on March 2, 2017 at 8:28 am GMT

Dollar strength dominated the markets as a more hawkish tone from the Fed raised the probability of a rate hike this month. FOMC member Lael Brainard, who is usually dovish, gave a hawkish speech yesterday and hinted at an early rate increase. Brainard’s bullish comments follow those of other Fed speakers who have also recently supported their view that it was appropriate to increase rates soon. Earlier this week, New York Fed President William Dudley, a known dove, said the [..]

Forex News – Fed March rate hike hopes overshadow Trump speech

Posted on March 1, 2017 at 3:58 pm GMT

US President Donald Trump’s first speech to Congress late on Tuesday in Washington DC left markets a little disappointed with respect to details on tax policy and infrastructure spending. Many expected it to be a speech in which the President would finally outline in detail his much-hyped economic plans but the only concrete economic policy mentioned was the $1 trillion infrastructure plan which would include both private and public funding, and would stress both ‘Buy American’ and ‘Hire American’. Trump [..]

European Session – Dollar extends losses after US GDP data but main focus is Trump speech

Posted on February 28, 2017 at 3:38 pm GMT

It was a relatively subdued European session, as investors waited for US President Donald Trump’s Congressional Testimony later in the day. Such a big event carries a high degree of risk and uncertainty and will likely be market moving, especially if Trump disappoints. There are expectations for hints on the timeline on tax reforms and more clarity on infrastructure spending and revenue generating policies. Slight risk aversion in the markets helped support safe havens such as the yen and the [..]

FX Daily Outlook | 28-02-17

Posted on February 28, 2017 at 9:42 am GMT

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Technical Analysis – Gold rally stops at 200-day moving average

Posted on February 28, 2017 at 8:37 am GMT

Gold has been rising since the December low of 1122.66. Prices rose steadily to break above the 50-day moving average (MA) and breached the key psychological level at 1200. The uptrend was capped by the 200-day MA at the 1261 area. Prices were unable to close above the 200-day MA yesterday but briefly spiked above it to hit a fresh 3-month high of 1263.74. A daily close above the 200-day MA today could trigger an upside move towards the 1300 [..]

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