All Articles Tagged - gold

Technical Analysis – Gold bullish as it enters the cloud; Records 2-month high

Posted on January 23, 2017 at 9:16 am GMT

Gold is posting some gains during today’s session so far, at one point rising above 1219 recording a 2-month high. Should it close higher, it will mark the 10th trading day of gains out of the last 11. Delving into the Ichimoku analysis, the Tenkan-sen line (red) has crossed above the Kijun-sen (blue) in the beginning of January. This alignment is a bullish short-term signal. The bullish short-term momentum is reinforced by the RSI indicator which is at 66, well [..]

European Session – Pound surges above $1.23 on May Brexit speech; Dollar dips below 113 yen

Posted on January 17, 2017 at 4:35 pm GMT

British Prime Minister Theresa May delivered her much-awaited speech on Brexit today. PM May didn’t give much details on the specifics of the Brexit process but she outlined the broader framework for Britain’s departure from the EU. May stated that Britain does not seek a “partial membership of the European Union, associate membership of the European Union or anything that leaves us (Britain) half in, half out”, making it explicit that her proposal rules out membership in the EU single [..]

FX Daily Outlook | 17-01-17

Posted on January 17, 2017 at 10:18 am GMT

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Asian session – Pound recovers ahead of May, dollar drops, safe havens gain

Posted on January 17, 2017 at 8:33 am GMT

The British pound steadied ahead of a speech by Prime Minister Theresa May later today on the UK’s priorities regarding Brexit. Markets were also worried by the increasingly protectionist tone coming out of the Trump administration and the uncertainty regarding his policies when he takes office this Friday. These factors caused some profit-taking in risk assets and a rise in safe havens such as gold and the Japanese yen. According to reports from her office, May will not seek a [..]

European Session – Sterling attempts to move away from 32-year lows; Dollar struggles to cling onto 114 yen

Posted on January 16, 2017 at 4:18 pm GMT

The British pound was attempting a rebound in today’s European session after the currency opened sharply lower today on newspaper reports on Sunday that the UK Prime Minister will signal a ‘hard Brexit’ in her speech tomorrow. Growing fears that the UK government is prepared to abandon the EU single market drove the pound to as low as 1.1986 dollars earlier in the day, making it the lowest since 1984 if October’s flash crash is excluded. British PM, Theresa May, [..]

FX Daily Outlook | 16-01-17

Posted on January 16, 2017 at 10:36 am GMT

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Asian session – Sterling drops on reports May will opt for ‘hard’ Brexit

Posted on January 16, 2017 at 8:20 am GMT

The pound fell sharply during Monday’s Asian trading as the market waited nervously for a key speech by British Prime Minister Theresa May on Brexit later this week. According to press reports, the UK would aim to abandon the EU’s tariff-free area in exchange for control over its immigration policy. Pound / dollar fell below the psychologically important 1.20 level to trade as low as 1.1986; levels unseen since the October sterling flash crash. The pound managed to reclaim the [..]

European Session – Dollar makes late rebound despite retail sales miss; euro hits 2-month high versus pound

Posted on January 13, 2017 at 3:59 pm GMT

A late comeback by the US dollar led to a sharp reversal in most major pairs in an otherwise quiet session on the week’s last trading day. The greenback made an unexpected move upwards despite disappointing retail sales numbers out of the US today, with some analysts attributing this to a short squeeze. US retail sales came in lower-than-expected in December, and ‘core’ retail sales were particularly concerning. On the headline level, the month-on-month growth in December came in at [..]

FX Daily Outlook | 13-01-17

Posted on January 13, 2017 at 10:19 am GMT

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European Session – Dollar steadies around 114 yen; Euro hits one-month high on ECB QE split

Posted on January 12, 2017 at 4:08 pm GMT

The slide in the US dollar continued to lift other currencies to multi-week highs in today’s European session as investors shun the greenback after Donald Trump failed to offer any new insight on his policy direction. The dollar index fell to a one-month low of 100.72 as the greenback sank against most currencies. Against the yen, the dollar hit a one month low of 113.75 yen at the start of European trading before rebounding to around 114 yen in late [..]

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