All Articles Tagged - gold

Technical Analysis – Gold shackled in a neutral trajectory as driving forces fade

Posted on January 19, 2022 at 9:37 am GMT

Gold has fairly flatlined around the Ichimoku clouds’ upper band, where the 50- and 100-period simple moving averages (SMAs) are also residing. Directional momentum seems to have dried up even though the SMAs are endorsing a modest upside bearing. The Ichimoku lines are indicating the absence of directing impetus, while the short-term oscillators are not suggesting any clear price preference in the precious metal. Momentum is lacking, something also being demonstrated by the MACD and red trigger line, which are [..]

Daily Market Comment – Stocks roll over, dollar steady, oil storms higher

Posted on January 18, 2022 at 9:49 am GMT

Markets fully price in four Fed rate hikes for this year, lifting yields Stocks under pressure, dollar recovers, gold surprisingly resilient Oil hits new highs, yen retreats after BoJ does nothing Fed worries hit stocks It has been a stormy couple of weeks for financial markets, with almost every asset class getting rocked by expectations that the Fed will need to normalize monetary policy more aggressively to cool inflation. The US labor market is so tight that wage growth has [..]

Technical Analysis – Gold sluggish below 1,830 but bullish pressures still alive

Posted on January 17, 2022 at 10:57 am GMT

Gold has been trading at a sluggish pace below the tough 1,830 resistance zone for the past three weeks, but the latest upturn in the price could show more resilience according to the technical picture. With the RSI fluctuating within the bullish territory and the MACD standing above its signal and zero lines, the bias is skewed more to the upside than to the downside. Also, the progressing bullish cross between the shorter and longer-term simple moving averages (SMAs) is [..]

US Open Note – Ugly retail sales data question Fed tightening; dollar plummets to fresh lows

Posted on January 14, 2022 at 2:25 pm GMT

Stocks to close the week in the red; banking earnings beat estimates Fed policymakers keep throwing cold water on stock markets, highlighting that a faster pace of higher interest rates will be required to cool inflation from March onwards, as persisting pandemic-led supply bottlenecks might create additional price pressures in the coming months.The Fed’s No.2 official Lael Brainard and the Chicago Fed President Charles Evans were the last on the call on Thursday, with tech stocks driving the Nasdaq 100 [..]

Weekly Outlook – BoJ meeting and US companies earnings take center stage

Posted on January 14, 2022 at 2:05 pm GMT

During the week that just ended, Fed officials made clear statements on the timing of the impending rate hike cycle, igniting downside pressures on stock markets. Next week, the spotlight will turn to the BoJ’s meeting, alongside major US companies’ earnings reports and a barrage of Chinese, UK and Canadian economic data releases. The highlights: In Asia, the BoJ meets on Tuesday but there are no policy changes on the cards, leaving the JPY vulnerable to external forces. Moreover, Chinese GDP, retail sales and industrial production will be out on Monday, with all reports estimated to indicate deceleration of the economy. AUD is [..]

US Open Note – Dollar speeds down a slippery slope; stocks steady

Posted on January 13, 2022 at 2:20 pm GMT

Dollar extends inflation decline; initial jobless claims tick higher The latest CPI inflation report out of the United States was not a big surprise on Wednesday. Despite a minor pickup in the core measure, the annual headline gauge came in line with expectations at 7.0% – the highest since 1982. However, investors sold the dollar as three rate hikes by the Fed are already fully priced in to launch potentially after bond tapering ends in March, while a fourth one [..]

Daily Market Comment – Dollar skids despite US inflation jump, euro cracks above range

Posted on January 13, 2022 at 10:39 am GMT

US dollar is pummelled as strong CPI fails to galvanize the bulls More Fed officials flag March rate hike but yields go nowhere Wall Street extends rebound but earnings may hold the key to more gains US inflation hits 7%, markets take it in their stride It was another disconcerting inflation report out of the United States on Wednesday as headline CPI edged up to 7.0% in December – the highest since 1982. But the figure was in line with [..]

Daily Market Comment – Sentiment up after Wall Street stages late comeback

Posted on January 11, 2022 at 10:12 am GMT

Nasdaq out of correction territory following late-session rally Asia mixed amid China lockdowns, but European stocks and US futures up Powell testimony eyed as March rate hike speculation intensifies Dip buyers return to save the day Equities were on a steadier footing on Tuesday as the selloff on Wall Street appeared to be cooling off following a miserable start to the New Year for the tech behemoths. The tech-dominated Nasdaq Composite briefly flirted with correction territory on Monday, plunging by [..]

US Open Note – Stocks under pressure on faster stimulus withdrawal signals

Posted on January 10, 2022 at 2:30 pm GMT

Global bond yields hit fresh highs; stocks retreat The Fed’s new message, which sparked fears that inflation could be tough to contain, and hence could require faster-than-expected rate hikes during the year, continued to weigh on market sentiment on Monday, elevating global bond yields to fresh highs. A couple of Fed policymakers have already urged the need to move towards normalization ahead of Powell’s testimony before the Senate Banking committee on Tuesday, making four rate hikes an increasingly likely scenario [..]

Technical Analysis – Gold slips back below 1,800 but trendless bias holds

Posted on January 10, 2022 at 8:56 am GMT

Gold’s downside forces have paused a tad beneath the 1,800 mark with the price resting on the 100-day simple moving average (SMA). A more neutral trajectory is being endorsed by the lack of trend in the SMAs. The Ichimoku lines are not indicating a clear price direction especially after the price gains from the 1,753 trough, which have been relatively offset by the pullback in the commodity off the 1,832 recent high. The short-term oscillators are tilting a tad to [..]

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