All Articles Tagged - gold

Daily Comment – Dollar edges up ahead of PCE inflation as stocks drift

Posted on August 30, 2024 at 9:10 am GMT

All eyes on US core PCE and consumption as bets for 50-bps cut stall Dollar headed for weekly gains but Nasdaq has disappointing week Euro on the backfoot as soft Eurozone CPI cements September cut Big Tech woes weigh on Wall Street The US dollar looks set to pare its monthly losses as it heads for its first weekly gain since mid-July amid more evidence that the US economy is humming along nicely. The same cannot be said for stocks [..]

Midweek Technical Look – GBPUSD, gold, oil

Posted on August 29, 2024 at 8:02 am GMT

GBPUSD weakens its momentum slightly beneath the 2½-year high Gold battles with record high; still above 2,500 WTI crude oil erases some losses but has lots of room for improvement [..]

Technical Analysis – Gold flirts with short-term uptrend line

Posted on August 28, 2024 at 8:46 am GMT

Gold lies within near-term SMAs Momentum oscillators head down Gold unsuccessfully tested the all-time high of 2,531.66 again today, but it is still above the 2,500 round number and the short-term uptrend line. Currently, the price is challenging the 20- and 50-period simple moving averages (SMAs) in the 4-hour chart, with the technical oscillators showing some weakening momentum. The stochastic is heading lower, while the MACD stands beneath its trigger line above the zero level. In case of a decline beneath the 2,503 support which [..]

Technical Analysis – Gold creates new bullish wave near record high

Posted on August 26, 2024 at 10:18 am GMT

Gold rises above short-term SMAs Stochastics turn down MACD and RSI still have positive momentum Gold prices are rallying higher, with the prospect of reaching the record high of 2,531 again. More advances may find resistance at the next round numbers of 2,600 and 2,700. However, the technical signals are mixed. The stochastic oscillator is heading south from the overbought region; however, the RSI is ticking higher, approaching the 70 level. Moreover, the MACD oscillator is holding above its trigger [..]

Daily Comment – Powell signals it’s time to cut; dollar sinks but risk rally muted

Posted on August 26, 2024 at 9:14 am GMT

Powell says the time has come for rate cuts, pushing yields and dollar lower But cautious rally in stocks as Nvidia earnings, inflation data awaited Oil jumps amid fresh escalation between Israel and Hezbollah Powell green lights rate cuts Fed Chair Jerome Powell locked in a September rate cut on Friday, using his Jackson Hole address to signal the Fed’s long-awaited pivot toward an easing cycle. Using somewhat more dovish language than anticipated, Powell said the “time has come for [..]

Market Comment – Markets position ahead of Powell’s Jackson Hole speech

Posted on August 23, 2024 at 8:34 am GMT

Dollar rebounds despite jobless claims increase Traders position for Fed Chair Powell’s Jackson Hole speech Yen rebounds as BoJ’s Ueda appears willing to continue hiking rates Wall Street slips as tech shares weigh, gold pulls back Fed cut bets readjusted ahead of Powell’s speech The US dollar rebounded against all but one of its major peers on Thursday, with the only exception being the British pound. With no clear catalyst behind the greenback’s recovery, it seems that investors may have [..]

Technical Analysis – Gold bulls may rest after record high

Posted on August 21, 2024 at 9:06 am GMT

Gold pulls below record high; might give up more ground Market trend stays positive as long as price holds above 2,463 Gold lost momentum after unlocking an all-time high of 2,531 on Tuesday near the rising constraining line drawn from July’s low, but it maintained its resilience above the 2,500 psychological number by the end of the day. The technical picture in the four-hour chart has started to show some cracks. The precious metal appears to have formed a bearish engulfing [..]

Volatility ebbs as recession fears evaporate – Volatility Watch

Posted on August 20, 2024 at 10:45 am GMT

Besides EUR/USD, FX volatility subsides as markets digest rate path repricing Volatility in precious metals is still high, but oil enters calmer waters Stock indices and Bitcoin volatility at their bottom of their 30-day range Recession concerns from a weaker-than-expected July NFP report have been fading, though they led to notable adjustments in expectations about major central banks’ interest rate paths. This week, investors are focused on Jerome Powell’s Jackson Hole speech, anticipating insights on the Fed’s view on the current economic conditions and prospective rate [..]

Technical Analysis – Gold surges to fresh record high

Posted on August 19, 2024 at 8:38 am GMT

Gold posts new all-time high on Monday But oscillators haven’t reached overbought conditions The divergence suggests that the advance may extend further Gold has been on the rise in the past couple of sessions, storming above the 2,500 psychological mark to a fresh record high on Monday. The latest rally could extend further given that the momentum indicators have not yet entered their overbought territories. Should the recent uptick extend further, the bulls may attack 2,514, which is the 123.6% Fibonacci extension [..]

Market Comment – Euro/dollar in critical area as the Jackson Hole Symposium nears

Posted on August 19, 2024 at 7:34 am GMT

Stocks record strong weekly gains as the first Fed rate cut gets closer Markets are gradually preparing for the Jackson Hole gathering Euro/dollar trades within a critical resistance area Gold in demand as geopolitics generate headlines Stocks rally, enjoy the mixed US data Markets continue to recover after the recent rout, with US equities finishing last week with strong gains. More specifically, the Nasdaq 100 index led the rally with a 5.4% weekly rise as the three main US stock indices simultaneously [..]

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