All Articles Tagged - gold

US Open Note – US stock futures lose upside momentum as market sentiment thins

Posted on April 4, 2022 at 1:47 pm GMT

Higher yields aid dollar, while euro remains heavy even as CPI spike jolts ECB A risk-off vibe seems to have overshadowed US stock futures as positive sentiment is lacking at the start of this week. The S&P 500 has managed to hold above its 200-day simple moving average (SMA) around 4,550, while the Dow Jones 30 and Nasdaq 100 composites have stabilized after a pullback below their respective longer-term 200-day SMAs at 35,057 and 15,167. Higher US yields are underpinning [..]

Daily Market Comment – Solid US employment report carries dollar higher

Posted on April 4, 2022 at 9:08 am GMT

Dollar grinds higher as traders step up Fed bets after jobs numbers Stocks struggle for direction, lots of conflicting signals to digest Euro finds no solace from sizzling inflation, RBA decision next Dollar smiles after jobs data The US labor market put in another impressive performance in March. Nonfarm payrolls clocked in at 431k as hiring remained strong, the unemployment rate fell to 3.6%, and more workers returned to the labor force thanks to the allure of rising wages. Quite [..]

Technical Analysis – Gold consolidates around 50% Fibonacci level

Posted on April 4, 2022 at 8:55 am GMT

Gold has stabilized around the 1,925 level, which is the 50.0% Fibonacci retracement of the near six-week rally from 1,780 until the 19-month high of 2,070. The rising simple moving averages (SMAs) continue to endorse the bullish trend in the commodity. Meanwhile, the picture painted by the short-term oscillators is one of conflicting signals in directional momentum. The MACD is indicating that positive momentum continues to wane as it glides beneath its red trigger line towards the zero threshold. Currently, [..]

Daily Market Comment – Stocks stay sluggish, oil slips further, dollar creeps higher ahead of NFP

Posted on April 1, 2022 at 9:37 am GMT

Stocks make mixed start to Q2 after worst quarter in two years as Ukraine woes linger Dollar main beneficiary of increased risk-off as yen sinks again, US jobs report in focus Oil prices hit two-week low after Biden’s supply boost Markets downbeat as peace hopes ebb After a promising start to the week amid the optimism that a ceasefire agreement between Russia and Ukraine is within reach, the market mood has soured somewhat as the two sides seem no closer [..]

US Open Note – Dollar gains and US futures mixed amid fading peace hopes

Posted on March 31, 2022 at 1:13 pm GMT

Market sentiment remains tentative as investors eye ceasefire negotiations The peace talks between Ukraine and Russia are set to resume on Friday via video conference, but yesterday’s positive signs of progress seem to have completely evaporated. NATO Secretary General Jens Stoltenberg stated earlier today that despite Russia’s announcement to scale down its military operations and withdraw troops from Kyiv, its army has been regrouping and is ready to launch another wave of attacks. Additionally, a Ukrainian negotiator claimed that a peace agreement always involves [..]

Daily Market Comment – Signs of progress in Russia-Ukraine talks lift stocks, dollar skids

Posted on March 30, 2022 at 9:32 am GMT

First significant progress in Russia-Ukraine talks boosts sentiment Stocks leap but rally runs out of steam quickly as recession risks loom Euro jumps, dollar takes a tumble but yen selloff steadies amid doubts about BoJ policy Hopes of Ukraine ceasefire rise after latest talks Russian and Ukrainian negotiators meeting in Turkey made the first meaningful progress to ending the month-long conflict on Tuesday, lifting the mood across financial markets. Ukraine proposed a new security guarantee mechanism in exchange for adopting [..]

Technical Analysis – Gold recoups some losses but 200-SMA halts its advance

Posted on March 30, 2022 at 7:45 am GMT

Gold experienced a sharp decline after trading sideways for the last two weeks. Although the precious metal has managed to bounce back in the last few four-hour sessions, the 200-period simple moving average (SMA) and the lower boundary of the Ichimoku cloud are capping its upside. The momentum indicators suggest that the near-term bias is turning cautiously positive. Specifically, the stochastic oscillator is marching higher in the overbought region, while the MACD histogram is currently below zero but above its [..]

US Open Note – US futures gain but dollar slips on signs of progress in peace talks

Posted on March 29, 2022 at 1:06 pm GMT

Dollar retreats as risk sentiment improves; euro edges higher The ongoing ceasefire negotiations between Russia and Ukraine, alongside Japan’s sanctions on Russia are the key drivers for the markets today. In the first front, there were some major positive developments, which triggered a mild risk-on sentiment in the markets. Specifically, the Ukrainian side suggested a new security guarantee, with the Russians responding that they will be scrutinizing it, acknowledging that the new talks under these proposals are at least constructive. Later, the [..]

US Open Note – Yen dives sharply as BoJ buys unlimited bonds; oil back below 110

Posted on March 28, 2022 at 12:53 pm GMT

Dollar/yen rises to a fresh 6-year high The Bank of Japan reaffirmed its support for its Yield Curve Control aim; a statement of its dovishness. A record was set by offering limitless 10-year JGB purchases for three consecutive days at the YCC trading band’s upper limit of 0.25%. As of February 14, this was the BOJ’s first action since 2018, which marked the beginning of such purchases. According to the BoJ, the three-day operation was aimed to bolster YCC, and the timetable and amounts might [..]

Technical Analysis – Gold loses steam near 1,959 resistance; bias neutral-to-bearish

Posted on March 28, 2022 at 7:20 am GMT

Gold could not find enough buyers to cross the key resistance of 1,959 last week, with the price tumbling to 1,933 early on Monday. The short-term bias is looking neutral-to-bearish as the RSI keeps fluctuating around its 50 neutral mark. The Stochastics have lost steam and are set for a downside reversal, while the MACD remains negatively charged between its signal and zero lines. If sellers manage to breach the 1,920 floor, where the 50% Fibonacci retracement of the 1,780 – 2,070 upleg [..]

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