All Articles Tagged - gold

Market Comment – King dollar returns as US yields rip higher

Posted on October 3, 2023 at 8:32 am GMT

Dollar continues to rally, with help from rising yields Gold smashed lower, but stocks don’t get the memo Aussie hits 11-month low after RBA decision, RBNZ next Dollar shines bright King dollar has returned to rule over FX markets. The world’s reserve currency has staged a phenomenal rally in recent months, empowered by the stunning rise in US yields, solid economic fundamentals, safe haven flows, and the absence of any attractive alternatives. The dollar rally kicked into higher gear yesterday [..]

Weekly Technical Outlook – USDJPY, NZDUSD, Gold

Posted on October 2, 2023 at 2:16 pm GMT

USDJPY prints new highs; hawkish Fed signals required to boost rally Will RBNZ’s policy approach help NZD/USD to stage a bull run? Gold gets hammered by Treasury yields; bearish but oversold US Nonfarm payrolls –> USD/JPY US lawmakers passed a last-minute deal during the weekend to avert a government shutdown until mid-November. With fiscal risks moving temporarily out of the spotlight, the focus will turn back to interest rates as the US dollar is stubbornly trying to revive its uptrend [..]

Market Comment – Gold sinks amid stronger dollar and rising yields

Posted on October 2, 2023 at 8:49 am GMT

Gold prices fall further, pressured on multiple fronts Yen loses ground after Bank of Japan intervenes in bond market Dollar stable ahead of some key data and Fed chief Powell Gold realigns with fundamentals The final quarter of the year begins with familiar themes in global markets. A relentless rally in US bond yields driven by increased debt supply, renewed concerns about China’s economic health, and a sinking Japanese yen continue to dominate the agenda for traders. Gold absorbed significant [..]

Market Comment – Dollar pulls back, some relief for stocks after dreadful quarter

Posted on September 29, 2023 at 9:22 am GMT

US dollar eases from highs as bond yield rally pauses for breath Stocks headed for worst quarter in a year but techs lead rebound Eurozone and US inflation data in focus Fed speakers help take steam off yields rally Bond yields slipped on Friday as ‘higher for longer’ bets took a step back on the last trading day of the quarter ahead of some key inflation and consumer spending data out of the United States. Hawkish Fed talk post the [..]

Market Comment – Yen gets closer to 150-per-dollar level, oil skyrockets

Posted on September 28, 2023 at 8:06 am GMT

Dollar extends gains on ‘higher for longer’ narrative Dollar/yen nears 150 zone, risk of intervention rises Oil skyrockets as US inventories tumble Wall street closes mixed despite rally in yields Fed’s Kashkari reiterates hawkish view The US dollar continued marching north against all but one of the other major currencies on Wednesday, gaining the most against the euro and losing only versus the Canadian dollar, which may have received support from the surge in oil prices. The Fed’s ‘higher for [..]

Technical Analysis – Gold tumbles below 1,900 but looks oversold

Posted on September 27, 2023 at 8:57 am GMT

Gold retreats below the 1,900 handle to its lowest level in a month Decline shows no signs of easing, while widening Bollinger bands point to high volatility Momentum indicators deep in their oversold territories, hinting at potential bounce Gold has been in a solid downtrend in the four-hour chart, violating both its 50- and 200-period simple moving averages (SMAs) and falling below the 1,900 psychological mark. However, the short-term oscillators currently suggest that the dip could be overstretched, thus a [..]

Gold decouples from interest rates, what’s next? – Special Report

Posted on September 26, 2023 at 1:43 pm GMT

Gold prices have remained stable lately, even as interest rates shot higher Central bank purchases have boosted demand, offsetting impact from rates Downside risks dominate for now, but longer-term outlook seems bright Gold stable, despite ‘bad news’ Gold continues to trade with impressive resilience. Even though conditions in financial markets have turned against the precious metal in recent months, gold prices have not absorbed much damage, defying the negative pressure exerted by soaring interest rates and an appreciating US dollar. [..]

Market Comment – Hawkish Fed boosts the dollar, BoE and BoJ next

Posted on September 21, 2023 at 9:07 am GMT

Fed revises rate path higher, lifting dollar and yields Stock markets and gold move lower in the aftermath BoE decision today a coin toss, BoJ unlikely to move Fed commits to higher for longer The Federal Reserve kept interest rates unchanged yesterday, as widely expected, but revised its economic forecasts and interest rate projections higher. Reflecting the recent flow of resilient US data releases, the Fed raised its economic growth estimates for 2023 and 2024, softly signaling that the risk [..]

Market Comment – Euro gains on ECB remarks; dollar awaits Fed decision

Posted on September 19, 2023 at 8:12 am GMT

Euro rebounds as ECB officials do not rule out another hike Dollar trades cautiously as Fed policy decision looms Wall Street nearly unchanged, gold extends gains ECB policymakers push back on market bets The euro extended its recovery against its US counterpart on Monday, bolstered by more relatively hawkish ECB rhetoric. Just a day after the ECB’s decision was interpreted as hinting at the end of this tightening crusade, several policymakers, including President Lagarde, appeared in their hawkish suits, noting [..]

Market Comment – Oil prices keep rising despite stock market turmoil

Posted on September 18, 2023 at 9:02 am GMT

Oil prices continue to rise as tight supply kicks in Rising bond yields put pressure on equity markets Dollar rally takes a breather, helping to boost gold Soaring oil prices spell trouble for euro and yen A pivotal week for global markets kicks off with another sharp spike in oil prices. The non-stop rally has seen WTI crude prices rise more than 30% this quarter, driven by a classic supply shortage after Saudi Arabia and Russia decided to curtail their [..]

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