All Articles Tagged - gold

Technical Analysis – Gold’s bearish bias calmed by support boundary

Posted on May 4, 2022 at 2:54 pm GMT

Gold is tiptoeing across the flattened red Tenkan-sen line at 1,864 after the more than two-week decline from the 2,000 price vicinity bounced off a support zone that stretches back to mid-February. The descending slopes of the simple moving averages (SMAs) are endorsing the recent downward trajectory in the commodity. Currently, the Ichimoku lines are indicating a pause in the downward driving forces, while the short-term oscillators are exhibiting weak negative momentum. The MACD, in the bearish region, is holding [..]

US Open Note – US Stock futures steadier, dollar ticks slightly lower

Posted on May 3, 2022 at 2:37 pm GMT

US Treasury yields support greenback, JOLTS data eyed This is nonfarm payrolls week, and we also have central banks meeting to deliver their rate hike decisions. Today, the Federal Open Market Committee (FOMC) began its two-day meeting on interest rate policy, which will be submitted on Thursday. US stock futures have recouped earlier weakness on the back of investor jitters ahead of the Federal Reserve’s policy decision. In the presence of hot inflation and a hawkish Fed, US treasury yields remain elevated [..]

Daily Market Comment – Dollar shines, gold slides as real yields turn positive

Posted on May 3, 2022 at 9:07 am GMT

Real yields turn positive ahead of Fed, boosting dollar but bruising gold Stock markets stage comeback, battered tech shares lead the charge RBA raises interest rates, aussie jumps despite Chinese slowdown Real yields matter The Fed’s wish to tighten financial conditions has come true just in time for tomorrow’s policy meeting. In a sharp move, ten-year US real yields clawed their way into positive territory yesterday, resurrecting bonds as an asset class and dealing a devastating blow to the long-standing [..]

Technical Analysis – Gold remains under pressure, unlocking 2½-month low

Posted on May 3, 2022 at 8:45 am GMT

Gold prices are declining near the new two-and-a-half-month low of 1,853. The price is continuing its move lower after the pullback off the 2,000 psychological mark. If the commodity declines further, immediate support could come from the 200-day simple moving average (SMA) near 1,834, which hovers near the long-term uptrend line. Any steeper downside movements may change the broader outlook to neutral, hitting the 1,780 support and the 1,752-1,762 zone. Having a look at the technical indicators, they both confirm the recent bearish [..]

US Open Note – Falling dollar breathes life into the euro; Wall Street in the red

Posted on April 29, 2022 at 1:50 pm GMT

3Dollar loses steam but is still the king The king dollar cooled off against a basket of six major currencies in the last trading day of April, having previously rapidly advanced to a two-decade high of 103.93 on the back of persisting calls for higher interest rates in the US and Ukraine-related economic risks in Europe. Still, a fourth consecutive weekly gain is more than secured for the greenback ahead of a busy week of central bank meetings and data [..]

Daily Market Comment – Dollar cools off, Amazon tanks after earnings

Posted on April 29, 2022 at 9:13 am GMT

Dollar set to close month on a strong note, braces for Fed meeting Euro and yen lick their wounds, gold stages a comeback Stock markets roar back but Amazon disappointment spoils the party Dollar unscathed by GDP miss The world’s reserve currency took a small step back on Friday, pausing for breath after it obliterated everything in its path this month, having gained 7% against the Japanese yen and 4.5% against the euro. Expectations that the Fed is about to [..]

US Open Note – No mercy for the euro; BoJ policy decision, Meta earnings next in focus

Posted on April 27, 2022 at 2:15 pm GMT

Euro plummets as Russian gas issues resurface There was no mercy for the depressed euro during the late European trading hours on Wednesday. The already squeezed common currency sank to the lowest point since April 2017 against the US dollar, remaining the worst performer across the board as Russia’s state-owned multinational gas supplier Gazprom completely halted supplies to NATO members Poland and Bulgaria because of non-payments in roubles. Of course, the EU’s powerhouse Germany, which gets 40% of its gas [..]

Technical Analysis – Gold sellers look to drive the precious metal lower

Posted on April 27, 2022 at 11:07 am GMT

Gold’s one-week decline from the 2,000 price vicinity has steered the commodity slightly beneath the 1,900 handle. The rolling over of the simple moving averages (SMAs), and the near completion of bearish crossovers of the longer-term 200-period SMA by the 50- and 100-period SMAs, are signals, which endorse the bearish trend in the yellow metal. Presently, the short-term oscillators are suggesting that buyers are fighting to overturn the bearish mood in the commodity. The MACD, south of the zero threshold, [..]

US Open Note – Market sentiment soft and dollar two steps ahead

Posted on April 26, 2022 at 1:47 pm GMT

Dollar remains sturdy despite retreat in US yields The key US stock indices have failed to retain their yesterday’s bounce and are aiming lower again as the resilient greenback manages to stay buoyant despite the fresh dwindling in US treasury yields. The US 10-year yield has eased to 2.77%, the 5-year yield to 2.80% and the 2-year yield to 2.56%. Even though markets have priced in an aggressive Fed and upcoming rate hike action for the United States, it seems [..]

Technical Analysis – Gold at risk of bearish continuation; 1,890 level in focus

Posted on April 26, 2022 at 7:02 am GMT

Gold started the week on the wrong foot, drifting below the $1,900 level on Monday after hitting a wall around the 50-day simple moving average (SMA) at $1,934. More importantly, the precious metal closed clearly below the tough support of $1,915 after almost two months of consolidation, raising the stakes for additional declines in the coming sessions. The technical indicators back this narrative too as the RSI has slumped below its 50 neutral mark and the MACD has slipped below [..]

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