All Articles Tagged - gold

European Session – Oil and gold steadier as dollar holds near highs in thin Thanksgiving trade

Posted on November 24, 2016 at 3:13 pm GMT

Currency markets and commodities were steadier in European trading on Thursday as the dollar eased slightly from the fresh highs set earlier in the day. Trading volumes were thin today due to US markets being closed for the Thanksgiving holiday but Wednesday’s strong US data and hawkish Fed minutes were enough to keep the dollar’s bullish momentum going. The US dollar set a new 8-month high of 113.53 yen at the start of the European session but had eased slightly [..]

European Session – Strong durable goods propel dollar above 112 yen; Gold sinks below $1200

Posted on November 23, 2016 at 4:05 pm GMT

The dollar rally showed no sign of abating today as much stronger-than-expected US data swiftly un-paused the brief halt in the greenback’s post-election surge. US treasury yields also rallied as expectations that the Fed may have to tighten policy more aggressively than anticipated led to another outflow of funds from government bonds. After a quiet start to the day, major currencies soon moved out of their previous day’s range during Wednesday’s European session as they digested a slew of US [..]

Technical Analysis – Gold pauses decline just above key 1200 support

Posted on November 22, 2016 at 8:00 am GMT

Gold’s decline stopped just ahead of the key 1200 level. After reaching a 5-month low of 1202.80 on Friday, prices rebounded to 1220 early on Tuesday. The market is now at a critical area near the 50% Fibonacci retracement level (1210.18) of the rise from 1046.29 to 1375 (December 2015 to July 2016 rally). If the market falls below the 50 % Fibonacci, the bias would shift to bearish. Technical signals are negative as the market is below the 200-day [..]

European Session – Dollar breaks above 108 yen as euro slumps to 11-month low

Posted on November 14, 2016 at 3:36 pm GMT

The US dollar extended its Asian session gains to climb to a near one-year high in European trading on Monday, as the dollar index rose above 100 for the first time since December 2015. Against the yen, the dollar rallied to a 5-month high of 108.48 as the yen fell across the board. The changing outlook for the US economy following the election of Donald Trump as the next American president remains the driver of today’s currency moves. Expectations that [..]

European Session – Dollar pares losses as US treasury yields spike up

Posted on November 9, 2016 at 3:59 pm GMT

Currency markets stabilized after a turbulent start to the day following Donald Trump’s shock win in the US presidential election. Most investors were caught off guard by the surprise outcome given that Hillary Clinton was seen to be holding a small lead going into polling day. The uncertainty over what policies Trump will pursue on trade, immigration and the economy was enough to trigger a sharp sell-off in risk assets. Asian stocks recorded heavy losses as they bore the brunt [..]

Forex News – Markets calmer after being rocked by volatility from shock Trump win

Posted on November 9, 2016 at 12:03 pm GMT

Financial markets steadied after the start of European trading, reversing some of the sharp gains from just a few hours before when the early counts pointing to a Trump win triggered a wave of panic globally. Expectations of Hillary Clinton winning the US presidential election had been rising in the days prior to the vote, with most polls giving the Democratic candidate a slim lead against her Republican rival, Donald Trump. Clinton’s increasing odds had boosted risk assets, with global [..]

European Session – Dollar subdued as voting opens in US presidential election

Posted on November 8, 2016 at 4:07 pm GMT

Trading was subdued in Tuesday’s European session as most major currencies held steady as voting began in the United States for the country’s next President. The dollar extended yesterday’s gains to climb to a fresh one-week high of 104.85 yen, while US equities opened slightly lower in cautious trading on election day. Risk sensitive currencies such as the Australian and New Zealand dollars gave up some of their gains from the Asian session as some traders became skittish ahead of [..]

European Session – Dollar holds near day’s highs as equities rally, yen retreats

Posted on November 7, 2016 at 3:34 pm GMT

The risk-on sentiment brought on by the FBI’s decision not to bring criminal charges against Hillary Clinton continued to prevail financial markets in Monday’s European session. Yesterday’s announcement by the FBI that they are closing their investigation into Clinton’s use of a private email server has given a last-minute boost to the Democrats’ campaign. This in turn has led to a relief rally ahead of Tuesday’s presidential election in the US. The dollar hit a one-week high of 104.62 yen [..]

European Session – Sterling rallies on UK construction PMI, dollar weakness persists on US election worries

Posted on November 2, 2016 at 3:06 pm GMT

Risk aversion continued to grip the markets in today’s European session as US election worries grow, lending support to safe haven assets. The dollar extended losses against many counterparts while gold was bid. Economic data released during the European session were on PMI surveys for the Eurozone manufacturing and UK construction sectors but these were a temporary distraction for the markets as the focus was elsewhere, primarily on the US elections. Sterling received an added boost after UK construction PMI [..]

Asian Session – Dollar weakens as focus turns to US election uncertainty, gold rallies

Posted on November 2, 2016 at 7:10 am GMT

There was a risk off environment in Asia on Wednesday which followed through from the US session. The selloff in the US dollar played on sentiment and therefore safe havens like gold and the yen gained. The upbeat sentiment on Tuesday from strong China PMI data has faded as the focus turned to the US elections. Equity markets also joined the selloff while the VIX (volatility index) rose. Some recent polls show Republican candidate Donald Trump leading Democratic candidate Hillary [..]

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