All Articles Tagged - gold

European Session – Euro tests 1.14 as dollar stuck at one-month lows; Oil extends gains

Posted on June 8, 2016 at 2:48 pm GMT

The euro climbed to a 4-week high of 1.1410 dollars in European trading on Wednesday as the dollar continued to be weighed by receding expectations of a near-term Fed rate hike. The dollar index, which measures the US dollar against a basket of currencies, fell to a one-month low of 93.43. Apart from dollar weakness, there was little else driving the single currency today with the only major European data coming out of the UK. UK manufacturing and industrial production [..]

European Session – Euro firms on strong business survey data; dollar eases

Posted on May 30, 2016 at 2:27 pm GMT

European currencies recovered from the day’s lows as the dollar eased from its earlier highs as the effect of Fed Chair Janet Yellen’s comments on Friday faded. However, activity was muted in thin trading due to UK and US markets being closed on Monday for a public holiday. The euro edged up to 1.1140 dollars in late European session, and the pound reclaimed the 1.46 level against the dollar. The Swiss franc also strengthened as the dollar slid to 0.9920 [..]

FX Daily Outlook| 30-05-16

Posted on May 30, 2016 at 9:16 am GMT

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Asian Session – Dollar surges past 111 yen after Yellen says rate hike coming soon

Posted on May 30, 2016 at 8:13 am GMT

The US dollar surged against the yen in Asian trading on Monday as Fed Chair Janet Yellen reinforced expectations that the Fed could be on track to raise rates by the summer. Speaking at Harvard University on Friday, Yellen said that a rate rise would be appropriate “in the coming months”. Her message was repeated by St. Louis Fed President James Bullard on Monday. Bullard said that markets globally were “well prepared” for a June or July rate hike adding [..]

Technical Analysis – Gold at critical 1200 level after falling to 4-month low

Posted on May 30, 2016 at 7:43 am GMT

Gold fell to a four-month low on Monday and is testing a critical level at 1200. The precious metal dipped below 1200 early in the Asian session to 1199.59 for the first time since February, extending a decline from above 1300 at the beginning of May. Gold is now in its fourth week of decline, losing 7% since the 1303.58 peak, and is at risk of turning into a bearish trend. The commodity was in an uptrend since bouncing from [..]

Asian Session – Dollar pares sharp gains; Oil approaching $50 at 7-week high

Posted on May 25, 2016 at 8:16 am GMT

The US dollar pared some of yesterday’s sharp gains when it rose on the back of solid US housing data. The dollar index climbed to a two-month high of 95.66 at the start of today’s Asian trading before easing to around 95.55 in late session. Strong gains in European and US equities on Tuesday helped risk appetite and Asian equities were also in positive territory today. The yen fell back as risk aversion faded but the currency was also weighed [..]

FX Daily Outlook| 20-05-16

Posted on May 20, 2016 at 12:16 pm GMT

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Technical Analysis – Gold bounces up from key Fibonacci level

Posted on May 20, 2016 at 7:04 am GMT

Gold prices found support at the 23.6% Fibonacci level at 1243.02, which is the retracement of the upleg from 1047.57 to 1303.58 (December to May rise). Prices bounced up from this level, which could indicate that the decline from the 4-month peak of 1303.58 was a correction and the bullish market structure that was in place from 1047.57 could continue. The bullish crossover of the 50-day moving average above the 200-day moving average in February was a bullish signal. While [..]

FX Daily Outlook|04-05-16

Posted on May 4, 2016 at 9:03 am GMT

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Asian Session – US dollar rebounds versus yen in volatile trading

Posted on May 4, 2016 at 7:40 am GMT

The US dollar managed to claw back some ground versus the Japanese yen during Wednesday’s trading, climbing to the 107.45 level before dropping back below 107. Thin liquidity due to a Japanese national holiday as well as heavy speculative positioning in favor of the yen that made it vulnerable to a reversal, might have exacerbated the sharp moves. The moves occurred in the absence of any fundamental announcements or other news. The US dollar also managed to preserve its previous [..]

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