All Articles Tagged - gold

Technical Analysis – Gold sustains one-week bullish bearing despite minor recoil

Posted on April 13, 2022 at 8:50 am GMT

Gold’s latest positive incline is finding assistance from the climbing Ichimoku lines after finally being able to shake off the one-month sideways market, which the commodity adopted from the second half of March. The recent upturn in the slopes of the 50-and 100-period simple moving averages (SMAs) has now aligned with the 200-period SMA that continues to sponsor the broader uptrend. The ascending Ichimoku lines are indicating positive forces are intact, while the short-term oscillators are conveying mixed messages in [..]

US Open Note – Dollar turns lower after CPI data; oil climbs by 4%

Posted on April 12, 2022 at 1:15 pm GMT

US CPI surpasses forecast, rising to 8.5% Interest rates in the United States continue to rise. The 10-year yield traded near a fresh cycle high of 2.83% and is on course to hit the October 2018 high of 3.26%. This has sent the dollar index beyond the 100 mark for the first time in over two years but after the CPI data, it returned near its opening level, while dollar/yen is hovering below the six-and-a-half-year high of 125.76 posted yesterday. The [..]

Daily Market Comment – Rising yields start to spook equity markets, dollar crushes rivals

Posted on April 12, 2022 at 9:19 am GMT

Stock market selloff accelerates as investors begin to panic about soaring borrowing costs Dollar climbs to new highs as yen slumps again, eyes US inflation data Oil bounces off lows after China eases Shanghai lockdown, gold attracts some bids Stocks back in the doldrums Equity markets remained in the red on Tuesday as global bond yields extended their ascent to multi-year highs, freaking out jittery investors already on edge about the dimming growth outlook following Russia’s invasion of Ukraine. The [..]

Technical Analysis – Gold consolidates above short-term SMAs; neutral bias

Posted on April 11, 2022 at 6:41 am GMT

Gold is successfully surpassing the 20- and 40-day simple moving averages (SMAs), which were ready to create a bearish crossover; however, the latest upward move drive the SMAs higher. The price appeared to be neutral over the last month and it is now consolidating within 1,920, which is the 38.2% Fibonacci of 1,680-2,070.40 and the 1,968 resistance. The RSI indicator is slightly pointing down in the positive territory, while the MACD is losing momentum below its trigger line. Immediate resistance to further gains would likely come [..]

US Open Note – Market sentiment thins at end of week

Posted on April 8, 2022 at 1:37 pm GMT

Dollar reigns and Friday’s focus aims at Canadian employment data Volatility in the S&P 500, the Dow Jones and Nasdaq 100 composite remains subdued today, compressed by the Federal Reserve’s recent policy rhetoric to accelerate the pace of tightening along with elevated treasury yields. However, this hawkish stance while leaving the door open to be flexible in terms of being able to control the tempo of rate hikes, reassures markets that the Federal Reserve will remain vigilant to avoid pushing [..]

Daily Market Comment – Euro hammered ahead of French election, gold defies the odds

Posted on April 8, 2022 at 8:28 am GMT

Euro continues to sink, cannot capitalize on hawkish ECB signals Dollar prepares to close stellar week, equities claw their way back Gold defies the trading playbook – who is the mystery buyer? Wounded euro awaits French election The euro remains the sick man of the FX arena, plagued by war, sanctions, surging energy prices, a slowing economy, and most recently the resurgence of political risk. ECB officials struck a hawkish tone in the minutes of their latest meeting, playing down [..]

US Open Note – Dollar stands firm; ECB meeting minutes fail to move the euro

Posted on April 7, 2022 at 1:13 pm GMT

Dollar preserves FOMC boost; stocks weaker The US dollar kept its lead against a basket of major currencies on Thursday, trading almost at a one-year high. The world’s reserve currency is now set for a thriving weekly close as the FOMC meeting minutes reaffirmed the Fed’s recent sharp hawkish tone yesterday, revealing that the central bank will hit the stimulus brakes more aggressively in the coming months. In addition to a larger 50 bps rate hike, the central bank openly [..]

US Open Note – King dollar awaits FOMC minutes; stocks in the doldrums

Posted on April 6, 2022 at 12:46 pm GMT

FOMC minutes under the spotlight Inflation jitters are weighing far more heavily on central banks’ thinking now, pressing policymakers to expedite their tightening plans further even if the war in Ukraine threatens to drag the global economy into a recession. The second most important FOMC board member, Lael Brainard, who is considered a dove, dropped her patient tone late on Tuesday, stating that the Fed could begin the balance sheet reduction at a faster pace than previously expected as soon [..]

Daily Market Comment – Fed warning turbocharges dollar, sinks equities

Posted on April 6, 2022 at 8:34 am GMT

Fed’s second-in-command warns of “stronger action” to cool inflation Dollar marches higher, stock markets drop, but gold stays rangebound Cable tracks equities lower, FOMC minutes coming up next Fed turbulence The Federal Reserve injected a fresh dose of volatility into financial markets yesterday, after its second-in-command warned of aggressive policy action to rein in inflationary forces. Lael Brainard, who is waiting Senate confirmation to become Vice Chair and typically errs on the side of caution, put investors on red alert [..]

Technical Analysis – Gold extends sideways move but downside risks remain

Posted on April 6, 2022 at 8:08 am GMT

Gold has been trending downwards since early March when the price peaked at the 19-month high of 2,070. Although the price managed to halt its decline and currently experiences a consolidation phase, the technical picture seems to be deteriorating for the precious metal. The momentum indicators suggest that bearish forces continue to hold the upper hand. Specifically, the MACD histogram is currently beneath both zero and its red signal line, while the RSI is hovering in the negative zone. Should selling [..]

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