All Articles Tagged - gold

Technical Analysis – Gold 4-hour stuck between 50- and 100-day SMAs

Posted on February 1, 2023 at 10:08 am GMT

Gold is moving sideways today following an aggressive move higher in January when it touched 1,949, the highest level since April 22. The market appears to be in a consolidation mode as bulls could be reevaluating their strategy amidst a gold market euphoria. Interestingly, the first attempt by the bears to regain market control failed at the 1,915 support area set by both the 100-day simple moving average (SMA) and the December 22 upward sloping trendline. Gold quickly climbed and [..]

S&P500 short-term correlations hold surprises – Special Report

Posted on February 1, 2023 at 7:13 am GMT

It has been a relatively quiet week, but it is highly probable that this calmness will be broken soon. The numerous central bank meetings, starting with the Fed gathering on Wednesday afternoon, and the busy data calendar promise an eventful period. Market correlations are used extensively by market participants to depict the current state of the market. Do long-term correlations stand or has something changed in the market recently? By using daily data, we calculated the latest 3-month daily correlation, [..]

Technical Analysis – Gold retraces after hitting 9-month peak

Posted on January 30, 2023 at 8:36 am GMT

Gold has staged a massive rebound since November, erasing a significant part of its 2022 decline. Moreover, the price stormed to a fresh nine-month high last week, but quickly pared its latest gains as its advance seems to be running out of juice. The momentum indicators are reflecting this loss of positive momentum. Specifically, the MACD histogram is softening below its red signal line in the positive region, while the stochastic oscillator is sloping downwards after posting a bearish cross in [..]

Daily Market Comment – Techs extend rally amid optimism, dollar eyes inflation data

Posted on January 27, 2023 at 9:58 am GMT

Wall Street in buoyant mood despite mixed earnings as Tesla surges Dollar firms after solid growth data, PCE inflation coming up next Yen edges up as BoJ yield policy tested again after Tokyo CPI rise Equities shrug off gloom as tech stocks rally The Nasdaq is headed for a fourth consecutive weekly gain, outperforming both the S&P 500 and the Dow Jones, as tech stocks stage a surprise comeback in 2023. The earnings season went into full gear this week [..]

Daily Market Comment – Wall Street jumps ahead of key earnings and data

Posted on January 24, 2023 at 10:32 am GMT

Tech stocks surge as S&P 500 closes above 4,000, all eyes on Microsoft Euro eases off highs amid signs of ECB divisions, mixed PMIs also weigh Dollar struggles as Fed bets trimmed, gold hits fresh highs Wall Street bulls fire up ahead of tech earnings Growing hopes that the Fed will soon call time on its aggressive rate-hiking campaign continued to feed optimism in equity markets, pushing the S&P 500 above the 4,000 level on Monday. US stocks staged a [..]

Technical Analysis – Gold falls slightly below the 9-month high

Posted on January 23, 2023 at 7:48 am GMT

Gold rallied towards a fresh nine-month high of 1,938 in the preceding week, but quickly lost some ground and is currently moving slightly lower. The commodity added more than 20% from the two-and-a-half-year low of 1,615 and is holding well above the short-term simple moving averages (SMAs). Technically, the MACD oscillator is moving marginally lower near its trigger line in the positive territory, while the RSI is easing after the pullback in the overbought region, suggesting that the momentum is weakening. [..]

Daily Market Comment – Dollar subdued, euro rebounds, yen retreats

Posted on January 20, 2023 at 9:02 am GMT

Dollar trades lower even as initial jobless claims beat estimates Euro rebounds after Lagarde appears hawkish Yen retreats, but stays in broader uptrend Wall Street records another day of losses Dollar unimpressed by slide in jobless claims The US dollar finished Thursday lower against most of the other major currencies, gaining only versus the risk-linked aussie and kiwi. Today, the greenback is losing against all except the yen and the pound. It seems that investors are still trying to estimate [..]

Technical Analysis – Gold bulls look a bit exhausted above 20-period SMA

Posted on January 18, 2023 at 10:51 am GMT

Gold stretched its positive move above the 20-period simple moving average (SMA) in the 4-hour chart but is currently moving slightly lower. The MACD seems to be gaining momentum below its red signal line in the positive region; however, the RSI is pointing down around above the neutral threshold of 50. The market trend is likely to hold on the upside as long as the price holds far above the 200-period SMA. Should weakness extend below the 20-period SMA, support to downside movements could be initially [..]

Daily Market Comment – Yen slips ahead of BoJ, stocks subdued as Chinese growth slows

Posted on January 17, 2023 at 10:21 am GMT

Markets cautious before BoJ as traders on guard for another policy tweak China’s economy slows but avoids contraction, stocks turn lower Dollar steady as US data and Fed speakers eyed for direction Yen rally takes a breather as BoJ awaited The Japanese yen extended its retreat from its latest highs on Tuesday, though it was flat against the US dollar, amid intense speculation as to what the Bank of Japan will decide when it concludes its two-day policy meeting on [..]

Daily Market Comment – Yen, gold, and stock markets power higher

Posted on January 16, 2023 at 9:29 am GMT

Yen goes on a rampage ahead of crucial BoJ decision this week Gold hits new highs, driven by Fed speculation and softer dollar Euphoria engulfs markets as stocks, crypto, and risk-linked FX gain Yen soars ahead of BoJ After sinking to the depths of Hades last year, the Japanese yen has staged a spectacular comeback. It is currently tied with the Australian dollar as the best-performing major currency this year, capitalizing on a perfect storm of narrowing interest rate differentials, [..]

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