All Articles Tagged - gold

Technical Analysis – Is gold ready to sail to an all-time high?

Posted on August 14, 2024 at 12:19 pm GMT

Gold moves sideways; faces resistance near 2,473 Technical signals are positive for a continuation to 2,500 ahead of CPI data Gold repeated its July bounce off the 200-period simple moving average (SMA) on the four-hour chart to re-examine the 2,473 resistance, which ceased upside pressures earlier this month. The bulls have been unsuccessful so far as the battle against the 2,473 barrier continues for the third consecutive day. That said, the technical picture keeps feeding optimism for a positive continuation [..]

Market Comment – Markets perk up as soft PPI sets the tone ahead of US CPI

Posted on August 14, 2024 at 8:36 am GMT

Stocks perk up after soft US producer prices, all eyes now on CPI report Kiwi slumps after RBNZ cuts rates and signals more to come Pound also slips on weaker-than-expected UK inflation data Gold holds near record high as dollar skids, ME tensions mount Mood brightens ahead of US CPI data The rebound in equity markets gained further traction on Tuesday after US producer prices rose less than expected in July, raising hopes that today’s report on consumer prices will [..]

Market anxiety fades but volatility remains high – Volatility Watch

Posted on August 13, 2024 at 11:22 am GMT

FX volatility smoothens a little bit as markets digest rate path repricing Volatility in commodities still high amid resurgence of geopolitical tensions Stock indices and Bitcoin still volatile while traders unwind bearish bets Recession concerns from a weaker-than-expected NFP report two weeks ago have been fading, though they led to notable adjustments in expectations about major central banks’ interest rate paths. For that reason, volatility in FX pairs has been elevated, albeit a tad softer than last week. The yen crosses remain the most volatile as the BoJ has scrapped [..]

Market Comment – Stocks edge up in calm before the storm

Posted on August 13, 2024 at 8:18 am GMT

Stocks edge higher as gold benefits from geopolitical risks Pound rallies despite shock claimant count change French political issues return to the foreground RBNZ meeting could lead to significant kiwi underperformance Stocks edge higher as gold climb continues It was another uneventful session yesterday with most stock indices continuing to recover from last week’s rout. Not much has changed from last week as the market and most investment houses are still looking for a strong Fed rate cut in September. [..]

Market Comment – Has the recent market angst fizzled out?

Posted on August 12, 2024 at 8:10 am GMT

Improved market sentiment, Nasdaq 100 records weekly increase Yen holds recent strong gains as euro/dollar trades sideways today Rich data calendar this week, US CPI to dictate Fedspeak Gold and oil rally as Iran is expected to attack Israel Mood improves, yen maintains gains Despite the massively negative market sentiment at the beginning of last week, most stock indices managed to cover their weekly losses with the Nasdaq 100 actually closing in the green on a weekly basis. The Nikkei [..]

Technical Analysis – Gold on track to revisit all-time high

Posted on August 12, 2024 at 7:41 am GMT

Gold advances after bouncing off 50-day SMA The bulls eye recent record high as next target Oscillators are cautiously tilted to the upside Gold has been trading back and forth within a range in the past month, unable to adopt a clear directional impetus. In the near term though, the precious metal has been on the rise after meeting support at the 50-day simple moving average (SMA). Should the recent uptick extend further, the bulls may attack the May high of [..]

Market Comment – Sentiment improves after drop in US jobless claims

Posted on August 9, 2024 at 8:27 am GMT

US dollar gains as data ease further recession concerns Aussie benefits the most, also helped by RBA’s Bullock Wall Street rebounds, oil and gold gain as well Jobless claims drop the most in nearly a year The US dollar ended Thursday mixed against the other major currencies, even though it received a boost from the better-than-expected initial jobless claims for last week. The greenback held onto gains against the safe-havens yen and franc, while it surrendered to the risk [..]

Market Comment – BoJ Summary of Opinions reveals hawkish mood

Posted on August 8, 2024 at 8:16 am GMT

Yen pullback stopped by hawkish BoJ Summary Fed cut bets remain dovish, traders await next week’s data Tech shares drag Wall Street down again Gold rebounds, but remains well off its records Yen remains in the spotlight The yen remained in the spotlight yesterday, with dollar/yen extending its recovery by as much as 2.5% after Bank of Japan Deputy Governor Shinichi Uchida played down the chance of another rate hike soon. However, the recovery in dollar/yen was halted today as [..]

Technical Analysis – Gold has a deja vu moment

Posted on August 7, 2024 at 10:02 am GMT

Gold meets familiar support area near 200-SMA Technical signals reflect persisting caution A close above 2,394 could boost positive momentum Gold has been squeezed between its 200-period simple moving average (SMA) at 2,385 and the broken support trendline from February 2024 at 2,393, which switched to resistance, over the past couple of hours. Recall that a similar situation occurred on July 25-26 before the precious metal ascended to 2,474. Questions, however, are rising about whether the bulls will repeat [..]

Market angst pushes volatility higher across the board – Volatility Watch

Posted on August 6, 2024 at 10:34 am GMT

Euro/dollar volatility skyrockets as recession fears resurface Volatility in commodities jumps as geopolitics takes centre stage Stock indices experience much stronger volatility, decoupling from Bitcoin Volatility in the main FX pairs, including euro/dollar, jumped to the highest level of the past month as fears of recession, on the back of last Friday’s weak US labour market report, resulted in the market pricing in an aggressive easing path for most central banks during 2024. Yen pairs continue to attract extra interest [..]

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