All Articles Tagged - gold

Daily Market Comment – King dollar reclaims throne, stocks stabilize

Posted on September 30, 2021 at 9:13 am GMT

Dollar powers higher as traders play defense, sterling in pain Stocks stabilize amid some bargain hunting but remain fragile Gold trades heavy, government shutdown vote in Congress today Dollar takes no prisoners The US dollar sliced through several crucial resistance barriers yesterday, reclaiming its throne as the king of the FX arena without any clear catalyst behind this powerful move. Some players are likely just playing defense, hedging against a range of devastating scenarios such as a persistent rally in [..]

US Open Note – Stocks struggle as upbeat dollar endures, gold recoups some losses

Posted on September 29, 2021 at 1:50 pm GMT

Market tone sparks concerns around high inflation and lagging growth Although the global energy crisis is putting pressure on economies resulting from China’s coal shortages, as well as rising natural gas prices and disruptions in oil production in the US, investors’ focus will shift towards the virtual panel discussion at the ECB Forum on Central Banking scheduled at 15:45 GMT, where central bank governors will participate. Yesterday, Chair Powell and Secretary Yellen touched on the fact that failing to raise [..]

Technical Analysis – Gold remains under pressure; indicators suggest bullish bias

Posted on September 29, 2021 at 6:28 am GMT

Gold prices are ticking up, following the rebound off 1,728 in the previous 4-hour sessions. However, in the broader outlook, the market has been bearish since September 3, but the technical indicators are confirming the latest upside momentum. The RSI is moving marginally up in the negative territory, while the MACD is ready for a bullish crossover within its trigger line below the zero level. If the price continues to rise, immediate resistance could come from the 20-period simple moving [..]

US Open Note – Market sentiment dulls; dollar aided by climb in yields

Posted on September 28, 2021 at 1:40 pm GMT

Stocks pull back and dollar firms, ready to digest central bank speeches The US major indices are retreating as a result of a dampened market mood on the back of global energy uncertainties and rising yields, which have simultaneously underpinned the king dollar. Currently the 10-year yield is at 1.53% and may be adding to the haven appeal of the reserve currency, reinforcing its latest resilience. The dollar index floated up until 93.65. The greenback has strengthened across a basket [..]

Daily Market Comment – Yen and tech stocks bleed as yields march higher

Posted on September 28, 2021 at 8:52 am GMT

Spike in bond yields plays havoc with yen and stocks Oil cruises higher amid dual energy crises in Europe and China Dollar firms, gold struggles, Powell testifies before Congress Yields spike The specter of rising interest rates has returned to haunt financial markets. The Fed breathed some life back into Treasury yields last week after it opened the door for a rate increase next year, and the rally has gone into overdrive this week thanks to some signs that inflation [..]

US Open Note – Dollar gains notable ground; oil continues the rise

Posted on September 27, 2021 at 12:44 pm GMT

Euro eases further after German elections The current week begins with traders’ attention on the German election results, but it serves as a reminder that politics is in full swing this week. The results of the German federal election showed that the centre-left SDP party won a small plurality, as expected. The government negotiations are expected to go until Christmas, according to some estimates. As a result, Merkel may keep her job as Chancellor for a few more months. The [..]

Technical Analysis – Gold shifts northwards but lacks bullish signals

Posted on September 27, 2021 at 7:40 am GMT

Gold kicked off Monday’s session with a soft positive momentum following last week’s consolidation around 1,740 and along the dashed restrictive line, which has been occasionally acting as support to downside corrections over the past two months. Technically, there is no clear sign that the bulls will take the upper hand in the short term as the RSI is maintaining September’s downtrend below its 50 neutral mark despite the confluence with a former support region, while the MACD remains negatively [..]

US Open Note – Stocks’ positive tone pauses but commodities keep minor upbeat vibe

Posted on September 22, 2021 at 2:37 pm GMT

Market jitters evident prior to Fed decision; dollar stabilizes While the suspension of the debt ceiling may hit a snag in the US Senate and somewhat cause disorder in global financial markets at a time of uncertainty, investors’ eyes have turned to the FOMC meeting decision scheduled today at 18:00 GMT, for laying the groundwork regarding the taper timeline and a possible hawkish comment. Asian session gains in US stock futures have steadied ahead of the Fed, while the greenback’s [..]

US Open Note – Stocks recover and dollar takes back seat

Posted on September 21, 2021 at 2:12 pm GMT

Market Sentiment picks up and central bank meetings draw focus The major US indices are gradually extending yesterday’s rebound while the dollar continues to dwindle. Nonetheless, as worries around China’s real estate giant Evergrande Group and its recent warnings of defaulting on its debt payments remain one of the global highlights, the spotlight continues to be directed around central banks. Investors continue to look for clues around meetings, with the BOJ expected to remain dovish and the Fed to comment [..]

US Open Note – China’s potential domino effect spooks stocks; dollar up

Posted on September 20, 2021 at 1:15 pm GMT

Stocks plunge as China’s Evergrande causes risk-off While the week was supposed to be all about the Fed and its tapering signals, increasing fears that Beijing will let its giant property developer Evergrande default on its $305 billion liabilities over a looming deadline for payment obligations brought another headache to global markets on Monday. The jitters popped up at a time when investors are growing sensitive to high valuations in stock markets and monitor signs of a slowing global economic [..]

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