All Articles Tagged - gold

Daily Market Comment – Western sanctions decimate the Russian economy

Posted on February 28, 2022 at 10:29 am GMT

America and Europe hit Russia with suffocating economic sanctions Russian central bank raises interest rates but cannot defend currency Stocks retreat, US dollar and oil advance as traders reduce risk Capital flees Russia The invasion of Ukraine has sent markets into a tailspin. Europe and America finally took off the gloves and announced a new round of crippling economic sanctions against Russia. These include the expulsion of several Russian banks from the SWIFT international payments system and freezing most of [..]

Technical Analysis – Gold decreases sharply after the spike to new 19-month peak

Posted on February 28, 2022 at 9:02 am GMT

Gold prices started the day with a positive gap, but they quickly declined lower, unable to re-challenge the 19-month high of 1,974. The RSI indicator is showing some positive signs as it is pointing upwards in the bullish region; however, the MACD is approaching its trigger line for a bearish cross above its zero level. In case there are steeper declines the next immediate support could come from the 1,877 barrier and then from the 20-day simple moving average (SMA) at 1,859 ahead of [..]

US Open Note – Hopes for dialogue on Ukraine restore some risk appetite

Posted on February 25, 2022 at 2:33 pm GMT

Hopes for dialogue improve market sentiment After a devastating week, Russian-Ukrainian military clashes showed no signs of de-escalation on Friday, making an invasion of Kyiv inevitable in the coming days. Even though nothing is certain at this point, the fact that Ukraine’s Western allies prefer to play the sanction game with Moscow instead of sending NATO forces, is feeding some hopes that the worst-case scenario of a broader full-scale war could be prevented, especially if Ukraine president’s requests for dialogue [..]

Weekly Comment – BoC and RBA policy decisions, alongside NFP report take center stage

Posted on February 25, 2022 at 1:11 pm GMT

The Russian invasion in Ukraine was the main market theme during the week, triggering risk-off sentiment as investors sought shelter in safe haven assets. In the upcoming week, the latest US employment report alongside central bank meetings in Canada and Australia will be in the spotlight, while a raft of economic data will also hit the markets. The highlights: In America, nonfarm payrolls figures will be out on Friday and will be closely eyed as a solid report might enable the Fed to proceed with a 50 basis points rate hike in [..]

Daily Market Comment – Big tech defies Ukraine crisis to stage massive turnaround

Posted on February 25, 2022 at 10:25 am GMT

Wall Street in sharp reversal as fears over Ukraine fallout ease a little Global equities also perk up, dollar retreats slightly, but oil extends gains Immediate focus back on inflation and Fed policy ahead of US data Russia moves in on Kyiv but markets steadier for now After a highly turbulent week, the mood brightened somewhat on Friday even as the tragedy unfolded in Ukraine. Stock markets around the world were rebounding from yesterday’s dramatic selloff when Russia invaded Ukraine, [..]

Daily Market Comment – Stocks crash, oil surges as Russia attacks Ukraine

Posted on February 24, 2022 at 10:14 am GMT

Markets in turmoil after Putin launches military assault on Ukraine Stocks tank, rouble plummets, while gold, oil and gas futures jump Dollar, yen and franc only gainers in FX sphere Fears of full-scale invasion as Ukraine crisis deepens Traders in Europe and around the world woke up to a dark day on Thursday after Russia’s latest actions confirmed the West’s worst fears about Ukraine. Russian President Vladimir Putin has ordered a “special military operation”, targeting military infrastructure in the east [..]

US Open Note – Mild sanctions improve the risk-on sentiment for now

Posted on February 23, 2022 at 1:32 pm GMT

Geopolitical ‘drama’ dominates the markets The West has implemented a set of sanctions against Russia after President Putin recognized the independence of the two breakaway regions in Ukraine, moving ‘peacekeeping’ troops into the area. The advance was interpreted as the beginning of an invasion by global leaders, as Moscow stressed that the region considered independent is not limited to the area controlled by the separatists, but extends to areas currently controlled by Kiev. However, initial sanctions were perceived to be [..]

Technical Analysis – Gold eases below 20-period SMA, creating bearish correction

Posted on February 23, 2022 at 11:02 am GMT

Gold prices are in a declining mode after the bounce off the nine-month high of 1,914. The price fell beneath the 20-period simple moving average (SMA) with the technical indicators suggesting a bearish correction. The RSI is holding below a descending line in the positive region, while the MACD oscillator is losing momentum below its trigger line in the bullish area. A reversal to the downside could stall at the 1,887 support ahead of the 40-period simple moving average (SMA) at [..]

Daily Market Comment – Modest sanctions help soothe fears about Ukraine fallout

Posted on February 23, 2022 at 10:19 am GMT

S&P 500 enters correction territory as sanctions on Russia mount But nerves later steady as market impact seen limited, oil and gold slip Kiwi jumps on hawkish RBNZ, aussie outperforms too as dollar stays soft Markets wary but less worried about Ukraine conflict The market mood steadied on Wednesday, having wavered on Tuesday as the Ukraine crisis unfolded, with the United States and its allies slapping sanctions on Russia for ordering troops into Ukraine’s separatist regions. Washington has made it [..]

Daily Market Comment – Stocks plunge, oil surges as Russian troops enter breakaway regions

Posted on February 22, 2022 at 10:27 am GMT

Escalating conflict in Ukraine ravages risk assets as stocks sink, Russian rouble tumbles Oil and metal prices soar on supply fears but gold stumbles FX markets relatively steady as Fed policy uncertainty holds dollar in tight range Equities tank as Russia, Ukraine on the brink of war Global stock markets sank deep into the red on Tuesday, extending Monday’s losses, with US equities likely joining the selloff today when Wall Street traders return from a long holiday weekend. US, UK [..]

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