All Articles Tagged - gold

Technical Analysis – Gold climbs above 1200, marking a 7-week high

Posted on January 12, 2017 at 12:53 pm GMT

Gold managed to surpass the 1200 psychological level during today’s trading session after testing it several times since mid-November but failing to cross above it. The price at the time of writing, at 1205, marks a 7-week high for the precious metal. Today’s upside movement has allowed gold to rise above the 50-day moving average (MA), a bullish near-term signal, and should the daily close be indeed higher than yesterday’s it will mark the fourth straight day of gains. The [..]

FX Daily Outlook | 12-01-17

Posted on January 12, 2017 at 10:40 am GMT

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Asian session – US dollar recovers a little ahead of key Trump conference but Mexican peso hits record low

Posted on January 11, 2017 at 8:33 am GMT

The US dollar recovered some ground during Wednesday’s Asian trading, but it had given back some of those gains by the end of the session. The dollar index was around the 102 level, having traded as high as 102.20. Currency markets were relatively quiet ahead of a press conference by President-elect Donald Trump, where he is expected to outline some of his economic policies. There is considerable uncertainty about what economic policies the new President will adopt. On the positive side, fiscal [..]

European Session – Dollar struggles for direction in subdued trading

Posted on January 10, 2017 at 3:51 pm GMT

Currency markets were muted in European trading today as the absence of major data and investor angst about US President-elect’s press conference on Wednesday led to more cautious trading. The US dollar see-sawed around the 116 yen level while the euro was unable to hold above $1.06 by late European trading. Market concerns about what Donald Trump might reveal about his policies, particularly on trade, tax cuts and relations with China when he holds his first press conference since the [..]

European Session – Dollar erases gains but pound steadies as hard Brexit fears linger

Posted on January 9, 2017 at 4:23 pm GMT

The yen saw increased demand in Monday’s European session, leading the US dollar to give up its earlier gains against the Japanese currency. Other currencies also lost ground against the yen, particularly the British pound, which has been hit today by fresh concerns of a hard Brexit following comments by UK PM Theresa May over the weekend. Softer US treasury yields helped the yen higher in late European trading, with the dollar slipping back below 117 yen to around 116.35 [..]

Technical Analysis – Gold rallying in effort to exit bearish trend

Posted on January 5, 2017 at 11:19 am GMT

After the sell-off being recorded in gold since early November, the precious metal has been posting some gains over the last few number of days in an effort to break out of the negative market structure which was renewed on November 18 when the 50-day moving average (MA) crossed below the 200-day one forming a bearish cross. Indicative of the recent positive sentiment is the fact that the RSI indicator rose above the 50 level, entering bullish territory. At the [..]

FX Daily Outlook | 30-12-16

Posted on December 30, 2016 at 10:27 am GMT

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Asian Session – Euro spikes above $1.06 in thin trade; Dollar recovers above 117 yen

Posted on December 30, 2016 at 9:57 am GMT

Major pairs were hit by volatility on Friday as ultra-thin volumes on 2016’s last trading day triggered some sharp moves. The euro spiked up to 1.0652 dollars in early Asian trading in a move that was triggered by an illiquid market than by news. The jump had a knock-on effect on other crosses and the dollar briefly fell to a 2-week low of 116.04 yen. Things settled later in the Asian session with the euro easing to around 1.0525 dollars. [..]

European Session – Dollar attempts a rebound in muted holiday trading

Posted on December 29, 2016 at 3:54 pm GMT

Currency markets were subdued on Thursday as volumes remained light with just one more trading day left before the end of the year. The US dollar moved away from the two-week lows it touched against the yen earlier in the day, while the euro and the pound managed to hold on to key levels. With little in terms of new data to excite the markets, US treasury yields continued to be the main driver of the dollar. Treasury yields came [..]

Forex News – Review of 2016

Posted on December 29, 2016 at 12:08 pm GMT

The year 2016 got off to a turbulent start, with worries about China’s economy escalating once again and fresh volatility in financial markets triggering concerns about a deepening crisis. But despite bigger shocks that followed, namely, Brexit and the US election outcome, financial markets appear to be ending the year on a positive note, even as further economic and political risks lie ahead in 2017. China slowdown triggers market turbulence China and its slowing economy was much of the focus [..]

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