All Articles Tagged - gold

Market Comment – Markets breathe easier but will it last?

Posted on August 6, 2024 at 8:00 am GMT

Slightly more positive tone in equity markets today Fear of recession fuels Fed rate cut expectations Light calendar today, focus on data during Asian session RBA remains hawkish, considers rate hike US stock markets set the tone for recovery With the US stock markets recovering slightly yesterday, the overall market sentiment is more positive today. After three disastrous sessions, the Nikkei 225 equity index is in the green at the time of writing, partly assisted by the strong labour cash [..]

Technical Analysis – Gold rally in question

Posted on August 5, 2024 at 8:28 am GMT

Gold is lower today, but close to recent highs Geopolitics and dollar underperformance support gold Momentum indicators are tentatively bullish Gold is trading lower again today, recording its third consecutive red candle, but remaining a tad below its recent all-time high. It is currently testing the upper boundary of the rectangle that has been defining market action since early April. Developments in the Middle East, the increased chances of an aggressive easing by the Fed and the stock markets being [..]

Market Comment – Dollar plummets as US jobs data spread panic

Posted on August 5, 2024 at 8:10 am GMT

Disappointing US jobs data push dollar off the cliff Yen extends rally as fears over US economy mount Stocks drop, VIX rallies to levels seen more than a year ago NFP report disappoints, rate cut bets surge The US dollar plunged on Friday after the US employment report for July came in weaker than expected, raising fears about the performance of the US economy and prompting market participants to start believing that the Fed may need to cut interest rates [..]

Market Comment – US slowdown fears grip markets ahead of NFP

Posted on August 2, 2024 at 8:45 am GMT

Tech stocks lead selloff in equities amid recession fears, disappointing earnings Yen extends gains as safe havens rally but dollar mixed Will today’s nonfarm payrolls report calm markets or add to jitters? Carnage returns to equity markets The mid-week bounce on Wall Street didn’t last long as rate-cut optimism turned to gloom following soft economic data out of the US on Thursday. The ISM manufacturing PMI hit the lowest since November last month, with employment shrinking the most since June [..]

Will US nonfarm payrolls steal the show this week? – Preview

Posted on August 1, 2024 at 2:32 pm GMT

US nonfarm payrolls to be released on Friday, 12:30 GMT Analysts estimate softer employment conditions in July Gold might push for an uptrend resumption if jobs data disappoint Will July’s NFP report be a game-changer? Friday’s nonfarm payrolls report will not be the last before September’s FOMC policy meeting, but it will be the first release of the third quarter and the first of the second half of the year. Therefore, the figures might be symbolic, especially after the [..]

Volatility remains elevated across the board – Volatility Watch

Posted on August 1, 2024 at 9:21 am GMT

Yen crosses are very volatile after BoJ hike aids yen’s recovery Volatility in commodity sphere jumps amid geopolitical flare ups Global stock indices in turbulent waters but for different reasons Volatility in yen crosses has increased considerably as the latest interest rate hike by the BoJ has added more fuel to the yen’s recovery from multi-year lows against major peers. Moreover, the pound pairs have also been volatile as markets are bracing for the BoE’s rate decision later on Thursday. In commodities, volatility [..]

Market Comment – BoJ hikes but Fed could make a dovish tilt

Posted on July 31, 2024 at 8:20 am GMT

BoJ announces rate hike and bond tapering Focus turns to US data and the Fed Australian CPI fails to record a significant downside surprise Gold and oil jump higher due to Middle East developments BoJ hikes rates and announces bond tapering The Bank of Japan confirmed market expectations and announced a 15bps rate hike earlier today. This is the second tightening move after the March 10bps hike. Citing stronger services inflation, a positive annual change in import prices, solid wage [..]

Technical Analysis – Gold fights with 2,420 level within Ichimoku cloud

Posted on July 31, 2024 at 7:19 am GMT

Gold rebounds off 2,370 support Prices penetrate short-term downtrend line But momentum oscillators look overstretched Gold prices have been in a bullish corrective mode during the week, paring/reversing some of its losses from July 24. The price has now surpassed the short-term downtrend line and the simple moving averages (SMAs), testing the 2,420 level. Over the past week, the bulls have struggled to enter the 2,400 area, and they may face another challenging obstacle near the 2,430 resistance. The technical indicators suggest that the [..]

Market Comment – Markets in waiting mode ahead of earnings releases and risk events

Posted on July 30, 2024 at 8:11 am GMT

Key earnings releases and numerous central bank meetings coming up US stocks in waiting mode, dollar recovering across the board Key euro area data today but all eyes are on Wednesday’s BoJ meeting Gold, oil and bitcoin move in parallel Stocks are mixed ahead of this week’s key events US stock indices were mixed yesterday as the market is preparing for this week’s big events. There is lots of speculation about Wednesday’s Fed meeting but, at this stage, a dovish shift [..]

Weekly Technical Outlook– USDJPY, GBPUSD, Gold

Posted on July 29, 2024 at 12:57 pm GMT

USDJPY rapid fall pauses near key support region as investors wait for BoJ tightening Gold shows signs of recovery ahead of FOMC rate decision and nonfarm payrolls Will the BoE meeting send GBPUSD lower? Focus turns lower to 1.2750 area BoJ rate decision –> USDJPY Central bank meetings will take center stage this week, with the Bank of Japan’s policy announcement on Wednesday drawing the most attention as investors speculate about the possibility of double tightening measures. Although the [..]

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