All Articles Tagged - gold

Daily Market Comment – Ukraine summit hopes lift euro, gold elevated but off highs

Posted on February 21, 2022 at 10:51 am GMT

Biden and Putin agree to hold talks as Russia and Ukraine on the brink of war Gold’s advance halted at $1,900/oz as risk tone recovers Euro is revived, strong PMIs help too; dollar and yen pull back Ukraine headlines remain in driving seat Simmering tensions over Ukraine continued to keep investors on edge at the start of the new trading week even as hopes of a peaceful resolution for the crisis were kept alive by a last-ditch effort by France. [..]

Technical Analysis – Gold falters around 1,900 mark, bullish mood dubious

Posted on February 21, 2022 at 9:06 am GMT

Gold in the previous trading session transmitted a bearish reversal message around the 1,900 price hurdle, following a three-week rally from the 1,780 trough. The hanging man candle formation is receiving credence with the subsequent negative candle, which until now has failed to close higher than the 1,900 barrier. However, the bullish 50- and 100-day simple moving averages (SMAs) and the near completion of a positive overlap of the 200-day SMA by the 100-day one, suggests more advances in the [..]

Week Ahead – PCE inflation, flash PMIs, RBNZ meeting lined up as Ukraine tensions linger

Posted on February 18, 2022 at 2:05 pm GMT

The Reserve Bank of New Zealand is poised to raise interest rates for a third time next week. But will it pull the 50 basis points trigger this time, setting a precedent for other central banks? In a week where PCE inflation numbers will be in focus in the United States, the RBNZ’s actions could have rippling effects for Fed policy speculation. Elsewhere, the flash PMI readings for February will be the centre of attention as consumers face a growing [..]

Weekly Comment – RBNZ and PMI data eyed as geopolitical tensions remain ‘hot’

Posted on February 18, 2022 at 1:48 pm GMT

Geopolitical tensions in Eastern Europe seem to be driving the risk-off sentiment in global markets. Moreover, Fed minutes have dialed back bets for an aggressive 50 basis points interest rate hike in March, hurting the US dollar. In the upcoming week, interest rate decisions from New Zealand and a raft of PMI data from most major economies take center stage, together with the US PCE price index and BoE’s Governor testimony. Highlights: Flash PMI data for February in the Eurozone, UK and Japan [..]

US Open Note – Risky assets rebound as market sentiment improves

Posted on February 18, 2022 at 1:42 pm GMT

Dollar holds steady despite easing tensions The geopolitical situation between Russia and Ukraine remains the key theme in today’s trading session, with the picture turning cautiously positive. Early in the day, the announcement of an upcoming meeting between the US Secretary of State Anthony Blinken and Russian Foreign Minister Sergey Lavrov triggered some optimism in the markets. Later, an official statement from the Ukrainian government that there is a very small and reduced likelihood of any major escalation further improved investor’s [..]

Daily Market Comment – Stock markets tank but FX doesn’t get the memo

Posted on February 18, 2022 at 9:58 am GMT

Equities get hammered until US-Russia meeting calms some nerves Yen advances but broader FX market almost immune to tensions Iran nuclear deal draft keeps oil in check, Fed speakers in focus Geopolitics running the show A series of reports about shelling attacks between the Ukrainian army and Russian-backed separatists injected another dose of uncertainty into global markets. Equities suffered the most damage, with the tech-packed Nasdaq losing almost 3% as traders unloaded riskier assets. By contrast, safe havens came back [..]

US Open Note – Market sentiment remains fragile as investors eye Ukraine escalation

Posted on February 17, 2022 at 1:37 pm GMT

Dollar stuck between opposing directional forces The ongoing tensions between Ukraine and Russia continue to be the main driving force behind market moves today as yesterday’s signs of de-escalation have completely evaporated. Specifically, the two sides are exchanging accusations over violations of ceasefire near the Eastern-Ukrainian borders, triggering risk-off sentiment in the markets. However, the dollar is trading flat on the day, failing to capitalize on the increasing risk aversion. Apart from this, the cautiously hawkish FOMC minutes released yesterday, alongside the retreat in US Treasury yields today seem [..]

Daily Market Comment – Cooling Ukraine tensions revive the euro and stocks

Posted on February 16, 2022 at 10:12 am GMT

Signs of de-escalation in the Ukraine crisis spark relief rally Stock markets and euro storm back, gold and oil prices retreat Fed minutes and US retail sales eyed – is the dollar rally exhausted? Risk appetite comes back A sense of optimism has returned to global markets following reports that Russia has withdrawn some forces from the border with Ukraine. Equity markets came back swinging as traders priced out geopolitical risk and loaded up on riskier assets again, betting that [..]

Technical Analysis – Gold rises above 23.6% Fibo; bullish in short-term

Posted on February 16, 2022 at 9:02 am GMT

Gold prices are heading upwards after the bounce off the 1,844 support level and is currently trying to surpass the 23.6% Fibonacci retracement level of the up leg from 1,780 to 1,879.40 at 1,856. The RSI indicator is pointing marginally up in the positive region with weak momentum, while the MACD is falling below its trigger line in the bullish area. Should the pair manage to strengthen its positive momentum, the next resistance could come around the eight-month high of [..]

US Open Note – Risk sentiment improves on Russia-Ukraine de-escalation signs

Posted on February 15, 2022 at 1:59 pm GMT

Dollar retreats but risk-sensitive currencies shine on geopolitics The latest geopolitical developments seem to be the main market-moving factor in today’s trading session. Specifically, Russia announced that several military drills near the Ukrainian border have ended and some troops have already returned to their military bases on the mainland. This headline relieved investors’ fears about a severe military confrontation and triggered a solid rebound in risky assets while causing a sell-off in traditional safe havens. Following that news, the dollar started [..]

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