All Articles Tagged - gold

US Open Note – US stock futures at record highs, dollar ticks slightly higher

Posted on December 30, 2021 at 2:28 pm GMT

Positive sentiment supported by strong US jobless claims US stock futures have managed to remain near record highs, while trading volumes have narrowed and liquidity is drying up as the trading doors near closure for 2021. The question at year end is what effects from the rapidly spreading Omicron variant will rollover into the new year, especially as infections have been hot. Also, how will economies start to fare in the new year with an environment where stimulus is diminishing, [..]

Technical Analysis – Gold’s losses risk breach of 1,800 level again

Posted on December 29, 2021 at 11:35 am GMT

Gold prices are approaching again the 40-period SMA which is near the 1,800 psychological mark. The RSI indicator is ticking south slightly below the neutral threshold of 50, while the MACD is losing momentum below its trigger line and near the zero level. The Ichimoku lines are also pointing down, while the short-term simple moving averages (SMAs) are following the current price action. The selling interest would likely take the market towards the 1,800 support level before touching the 1,784 [..]

Daily Market Comment – Santa Claus rally takes a breather, dollar firms

Posted on December 29, 2021 at 9:37 am GMT

Stocks mixed after Wall Street rally fizzles out, but futures point up Dollar inches higher, yen firms too amid some Omicron worries Oil extends gains, gold pulls back despite soft Treasury yields Wall Street falters but party not over Equity markets were feeling somewhat less joyous on Wednesday after the S&P 500 failed in its bid to close above the 4,800 level for the first time and as Chinese tech stocks came under renewed selling pressure. The S&P 500 ended [..]

US Open Note – Stocks imply a risk-on tone, greenback stabilizes around 96 mark

Posted on December 28, 2021 at 2:46 pm GMT

Dollar’s shine dulls in forex arena; are Omicron risks set to rise? The chaotic 2021 period is soon coming to an end and the lack of market driving news on today’s economic calendar is unlikely to help this year to leave with a bang. That said, major US index futures are persisting around their all-time highs suggesting that positive market sentiment may roll over into the new year. It seems that markets have become robust against fresh threats from the [..]

Daily Market Comment – Stocks lifted by new S&P 500 record, yen retreats

Posted on December 28, 2021 at 10:10 am GMT

Global stock markets get a lift from S&P 500’s latest dash to new all-time highs Dollar holds steady but yen on a broad pullback amid easing Omicron jitters Oil bounces back as demand worries subside, gold hits one-month high Wall Street’s Santa rally not over yet Shares on Wall Street continued to rally on Monday to notch up a fourth straight day of gains, pushing the benchmark S&P 500 index to a new all-time high of 4,791.19. Having started the [..]

Technical Analysis – Gold gains struggle above 1,800 mark

Posted on December 27, 2021 at 12:53 pm GMT

Gold’s recent positive traction off the mid-Bollinger band after a price bounce within the 1,750-1,763 support region is having trouble soaring past the 1,809-1,815 resistance belt. The converged simple moving averages (SMAs) are currently not endorsing any clear trend in the pair. That said, the short-term oscillators are skewed to the upside but are reflecting that bullish momentum remains somewhat frail. The MACD, in the negative region, is rising above its red trigger line and has neared the zero threshold, [..]

Daily Market Comment – Cautious mood in holiday-thinned trade

Posted on December 27, 2021 at 10:03 am GMT

Asia drifts lower despite China support but European shares eye gains Rising virus cases put investors on edge as doubts re-emerge about Omicron impact Commodities pressured, dollar firms, pound advances Subdued start to final week of 2021 Markets were struggling for direction on Monday in what is the last trading week of the year. The optimism that the Omicron variant will not cause a major setback to the post-pandemic economic progress has been brought into question by the latest surge [..]

US Open Note – Dollar cools off, riskier currencies shine

Posted on December 22, 2021 at 2:33 pm GMT

Safe haven currencies slip amid waning Omicron jitters; cyclical currencies shine Overnight, President Joe Biden’s statement that there is a significant chance that he strikes a deal with Democrat Senator Joe Manchin to pass his $2 trillion stimulus package through Congress, has been the driving force behind the soaring risk-on sentiment in markets. In addition, optimistic news from the pandemic front alongside statements from major countries’ government officials ensuring that financing aid will be provided in case new Covid-19 restrictions are imposed, further [..]

Technical Analysis – Gold eases below 1,800 and short-term SMAs

Posted on December 22, 2021 at 12:37 pm GMT

Gold could not find enough buyers to overcome the 1,800 level during the previous sessions, with the spotlight shifting again towards the 1,784 support zone and the Ichimoku cloud. The RSI and the MACD continue to flatten, while the former has also slipped back below its neutral threshold of 50, feeding pessimism that the bulls may gave up the battle. An extension below 1,784 could activate a stronger bearish wave towards the 1,7661 level. Failure to hold above that floor could see a continuation towards the 1,745-1,750 restrictive region. The 1,800 [..]

Daily Market Comment – Omicron relief kicks in, riskier trades recover

Posted on December 22, 2021 at 9:53 am GMT

Optimism returns as US prepares to approve covid-fighting pills Biden also promises to get a spending deal done next year Stocks and oil prices cheer, FX market remains hostage to risk tone Good news at last After a dismal start to the week, financial markets are back in a cheerful mood. All it took to turn the tide was some encouraging news around public health and promises of more stimulus spending. Risk appetite returned after reports that US regulators are [..]

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