All Articles Tagged - gold

European Session – Gold, oil hit fresh 2016 highs as dollar continues to slide

Posted on April 29, 2016 at 3:20 pm GMT

Commodities were bolstered on Friday from the weakening US dollar as soft consumer spending and inflation data reinforced expectations that the Federal Reserve will not be required to raise interest rates anytime soon. The dollar index, which measures the value of the US currency against a basket of currencies, hit an 8-month low and was down 0.7% at 93.09 in late European session. This helped crude oil to climb to fresh yearly highs, with US crude hitting $46.78 a barrel [..]

Asian Session – Yen extends post-BoJ gains; Dollar slides to 8-month low

Posted on April 29, 2016 at 7:47 am GMT

The US dollar fell to an 8-month low on Friday as measured against a basket of currencies as a dovish Fed and Bank of Japan inaction weighed on the greenback. The yen meanwhile extended yesterday’s impressive rally when it achieved its largest daily gain against the dollar in seven years. The US currency slumped to a fresh 18-month low of 106.89 yen against the yen in today’s Asian session and the dollar index hit its lowest since August 2015. With [..]

FX Daily outlook|19-04-16

Posted on April 19, 2016 at 8:59 am GMT

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Technical Analysis – Gold neutral medium term bias

Posted on April 19, 2016 at 7:05 am GMT

In the medium term, the market maintains a neutral bias between a broad range of 1200 and 1280. Gold staged a strong rally from lows of 1046.29 in December 2015 to a 14-month high of 1283.42 in March 2016. The rally reversed lower from this peak after RSI reached overbought levels near 70 and fell back down. This March peak could be seen as the head of a possible head and shoulders chart pattern that is in the process of [..]

European Session – Sterling bounces, loonie gains on rising oil prices

Posted on April 11, 2016 at 2:55 pm GMT

It was quiet start to the week for the currency markets as there were no major data releases today. There was barely any reaction to Chinese inflation data this morning. Sterling surprisingly outperformed today while the yen gave back gains made after last week’s strong rally, as risk appetite picked up a bit today. An improved mood in the markets helped stocks rally in Europe. Cable was the main pair that stood out as it rose from levels just above [..]

Technical Analysis – Gold at 3-week high on fresh upside momentum

Posted on April 11, 2016 at 1:27 pm GMT

Gold prices rose to the highest in three weeks on Monday, reaching 1254.14 on renewed upside momentum. Prices have eased from the 1-year high of 1283.42 set one month ago and technical indicators have weakened since. The weakened momentum is underlined by the tenkan-sen line moving below the kijun-sen line for the first time since December. However, last week’s gains have prevented the MACD from turning negative, helping sustain the positive bias for the near term. But with the stochastics [..]

Asian Session – Strong yen continues to raise eyebrows in Japan as dollar still in retreat

Posted on April 11, 2016 at 8:00 am GMT

It was a mixed start to the week in Monday’s Asian trading as the strong yen continued to weigh on Tokyo stocks but higher oil prices boosted equities elsewhere. Shares in China’s main indices were up over 1.5%, buoyed by weaker-than-expected inflation figures, which raised expectations of looser monetary policy. Annual CPI in China rose by 2.3% in March, less than the expected rate of 2.5% and the first time in five months that inflation has not accelerated. Producer prices [..]

Quarterly Market Review – Q1 2016

Posted on April 5, 2016 at 2:31 pm GMT

The first three months of 2016 saw the unwelcome return of the turbulence that had marred financial markets in the summer of 2015. Equity indices across the globe saw sharp losses accompanied by high volatility. Major currencies were also exposed to unusual fluctuations as safe-haven currencies were back in demand. It was also a busy quarter for central bank activity, particularly from the European Central Bank and the Bank of Japan. But it was the changing tone of the Fed [..]

European Session – Dollar stabilizes near 2-week lows; European stocks up sharply on Yellen

Posted on March 30, 2016 at 2:42 pm GMT

European equities rose sharply on Wednesday with the major indices up over 1.5% as risk appetite made a strong comeback after Fed Chair Janet Yellen signalled again yesterday that the Fed was in no rush to raise rates. Yellen’s cautious stance contrasted with those of other Fed officials who last week had increased the possibility of a rate rise as early as April. Another Fed official speaking today tried to strike a more balanced tone. Chicago Fed President Charles Evans [..]

Asian Session – Yellen reiterates caution on rates; dollar slides 1%

Posted on March 30, 2016 at 8:05 am GMT

Fed Chair Janet Yellen yesterday reiterated the need to move cautiously with rate increases, citing the uncertainty in the global economic outlook as a risk to the US economy. Speaking at the Economic Club of New York, Yellen said the Fed wanted to get ahead of the developments in the global economy and adjust its policy path accordingly before they start to impact its forecast for unemployment and inflation. She noted that economic and financial conditions remain less favorable than [..]

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