All Articles Tagged - gold

European Session – Euro see-saws after Draghi says Brexit shock ‘contained’; Yen up on Kuroda remarks

Posted on July 21, 2016 at 3:06 pm GMT

The euro saw some volatility in Thursday’s European session after the European Central Bank maintained its existing outlook on the Eurozone economy following its first policy meeting after June’s EU referendum outcome in the UK. Many analysts had expected the ECB to warn of a possible increase to the downside risks to the euro area as a result of Britain’s decision to leave the EU. However, speaking at today’s press conference after the meeting, ECB President Mario Draghi said financial [..]

European Session – Commodities sag as dollar extends gains; pound boosted by BoE survey

Posted on July 20, 2016 at 2:49 pm GMT

Commodity prices fell sharply in today’s European session as the US dollar continued its advance against most major currencies. Sentiment for the US currency appears to have turned bullish in recent days after a run of solid US data put the prospect of a Fed rate hike at some point in 2016 back on the table. The dollar rose to its highest since June 24 against the yen, reaching an intra-day high of 106.71 yen in late European session. This [..]

European Session – Markets steady after failed Turkish coup; Pound firms on BoE’s Weale comments

Posted on July 18, 2016 at 2:58 pm GMT

Risk sentiment faltered slightly in European trading on Monday as the yen erased some of its earlier losses and most European equity indices turned negative. London’s FTSE 100 was one of the exceptions though as it was boosted by a merger deal. This helped London shares to stand 0.6% higher in late session. The mega offer by Japan’s Softbank to buy UK chipmaker ARM Holdings boosted the pound today, which hit a high of 1.3291 dollars earlier in the European [..]

Gold, yen retreat from short-lived spike after failed Turkish coup attempt

Posted on July 18, 2016 at 12:31 pm GMT

A failed attempt by members of Turkey’s military on Friday to overthrow the Turkish government threatened to undo the improvement seen in risk sentiment over the week. With markets just starting to stabilize following the shock UK referendum result to leave the EU, a deadly terrorist attack in France and a coup attempt in Turkey risked causing another major market panic. However, market response to the Nice attack on Thursday was muted as investors saw it as an isolated event, [..]

Risk assets rise together with safe havens following Brexit vote

Posted on July 12, 2016 at 2:48 pm GMT

Gold, silver do best following Brexit Safe government bonds, stocks also do well If situation is not so bad, difficult to justify more stimulus One surprising aspect of the post-Brexit financial environment is how various assets have reacted to this unexpected event. Safe havens did very well as was expected, but perhaps less expected was how quickly risk assets shook off the post-Brexit blues and turned around to post a positive performance. As the chart shows, silver and gold have [..]

European Session – Pound struggles to hold at $1.29; Gold scales new yearly highs

Posted on July 6, 2016 at 3:11 pm GMT

Risk sentiment made only a modest recovery in European trading on Wednesday as markets remain spooked by the Brexit aftershocks. The pound managed to rebound strongly against the dollar to reclaim the 1.30 level but was struggling to hold above 1.29 dollars by late European session. Earlier today, the pound fell to a fresh 21-year low as concerns over the impact of Brexit on the UK economy were heightened. The euro also came under pressure but its decline was more [..]

FX Daily Outlook| 06-07-16

Posted on July 6, 2016 at 10:03 am GMT

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Asian Session – Pound slides below $1.30, yen surges as risk-off intensifies

Posted on July 6, 2016 at 8:23 am GMT

The pound maintained its downtrend in Asian trading today as the British currency comes under renewed pressure on fears of capital outflows following the UK’s vote to leave the EU. The concerns intensified yesterday after several UK property funds suspended trading of their real estate funds due to large withdrawals. The UK property market is expected to be one of the biggest casualties of Brexit as it relies heavily on foreign investment. Bank of England Governor Mark Carney added to [..]

European Session – Aussie and kiwi outperform; Pound steady despite slump in construction PMI

Posted on July 4, 2016 at 3:12 pm GMT

The British pound saw some erratic moves following unexpectedly weak construction PMI, but remained within a tight range as market liquidity was thin due to the US Independence Day holiday. Sterling hit an intra-day low of 1.3239 dollars after the PMI data, which showed construction activity in the UK fell sharply from 51.2 in May to 46.0 in June, missing estimates of 50.5. A reading below 50 is defined as a contraction in activity and is a sign that the [..]

FX Daily Outlook| 04-07-16

Posted on July 4, 2016 at 10:11 am GMT

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