All Articles Tagged - gold

Technical Analysis – Gold eases again; SMAs point down

Posted on September 20, 2021 at 7:51 am GMT

Gold is still heading south, continuing the negative structure after the pullback from the 1,800 significant level. In trend indicators, the short-term simple moving averages (SMAs) are pointing down and are ready for a bearish crossover. The stochastic oscillator has entered the oversold territory, while the RSI is sloping marginally down in the negative region, both suggesting a downside movement. An extension below the intraday low of 1,742 will strengthen the case for a down-trending market, likely activating a fresh bearish wave towards the [..]

Weekly Comment – USD up for second straight week ahead of FOMC

Posted on September 17, 2021 at 12:54 pm GMT

USD got a major boost from upbeat retail sales figures this week, which eased concerns that the US economy might be slowing too sharply. The strong data supports the case for the Fed to announce tapering on Wednesday. But the Fed decision isn’t the only one being eyed as central bankers in Japan, the UK and Switzerland also meet. The Highlights: The Fed will probably hold off from deciding to begin tapering at the September meeting and instead flag a [..]

US Open Note – Dollar back to gains at the end of the week

Posted on September 17, 2021 at 12:38 pm GMT

Dollar/yen back above 110.00 Prior to the weekend, the dollar is holding onto its recently gained ground, with dollar/yen approaching the 110.00 psychological number. Moreover, the dollar index is currently trading at 92.78, remaining above the 50-day simple moving average (SMA). Euro/dollar is showing some positive movement today, holding near 1.1780. US futures are pointing to a positive open. Headline retail sales in the US were projected to decrease -0.7% m/m but instead gained 0.75% m/m, compared to a revised -1.8% in July. UK retail sales drive pound lower The British pound declined below $1.3800 as retail [..]

Daily Market Comment – Dollar jumps, gold slumps, stocks nervous

Posted on September 17, 2021 at 8:40 am GMT

Surprisingly strong US retail sales lift dollar Gold the biggest casualty as yields spike Quad witching and China risks to drive stocks US consumer delivers again Worries that the US consumer is rolling over were dealt a major blow yesterday after the nation’s retail sales for August overpowered some gloomy forecasts. The retail sales control group that is used in GDP calculations rose by 2.5%, more than erasing last month’s decline. The news catapulted the dollar higher along with Treasury [..]

US Open Note – Stocks wane and dollar improves

Posted on September 16, 2021 at 2:16 pm GMT

US retail sales, jobless claims and Canadian ADP Non-Farm labour data take centre stage US major indices are slightly lower as the greenback continues its comeback. It seems consumption endured even as job growth remained burdened last month with August headline retail sales rising to 0.7%, beating July’s -1.8% figure and expectations of -0.8% m/m, while the core data soared to 1.8%, overshooting the -0.1% m/m estimation. Furthermore, the Philly Fed Manufacturing index came in at 30.7, eclipsing August’s and [..]

Technical Analysis – Gold returns beneath 1,800 border

Posted on September 15, 2021 at 3:45 pm GMT

Gold’s negative forces are currently brawling with the support region between the mid-Bollinger band and the 1,790 barrier, being the 38.2% Fibonacci retracement of the up leg from 1,718 until 1,834, after buyers lost their lead slightly above the 1,800 handle. The pair is demonstrating fresh consolidation between the 1,780 mark and the 23.6% Fibo of 1,807 following the decline from the 1,834 peak, something also being reflected in the simple moving averages (SMAs). The short-term oscillators are conveying mixed [..]

US Open Note – Yen and oil surge as futures are steady

Posted on September 15, 2021 at 1:00 pm GMT

US inflation mildly affects dollar US inflation had a mild negative influence on the dollar, but yesterday’s fragile risk sentiment gave it a boost. This suggests that markets believe the Fed will delay tapering next week, which might lead to a range bound environment until the end of the week. In addition, China’s efforts to rein in private enterprises and the impact of the delta virus strain on economic development are among them. The US dollar index is heading south around the 50-day simple moving average (SMA), [..]

US Open Note – Stocks push up and dollar index slips below 92.44

Posted on September 14, 2021 at 1:52 pm GMT

Markets and the greenback’s reaction connected to US CPI data Today’s pause on market volatility seems to have been hinged around market jitters prior to the release of the US CPI data, which is somewhat seen as the key that opens the taper door. The question is, has the rush to return to normality and subsequent supply bottlenecks been the main driver for inflation, suggesting it is temporary, or is there a deeper reason which the Fed is overlooking? These [..]

US Open Note – Dollar rises ahead of busy week

Posted on September 13, 2021 at 12:46 pm GMT

Next on radar is US CPI tomorrow A busy week is on the table this week in terms of economic data in the US. This month’s CPI report is expected to show that inflation has slowed down a bit from July’s 13-year high of 5.4% in July. Inflationary pressures will be closely monitored by investors to determine whether the Fed’s tapering will be gradual or quick. The dollar continues to rise with the US dollar index developing near 92.87, surpassing the 50-day [..]

Technical Analysis – Gold tiptoes above 1,782 mark with unclear direction

Posted on September 13, 2021 at 10:15 am GMT

Gold is edging sideways after retreating below the horizontal simple moving averages (SMAs) and the 1,800 level. Directional impetus in the price is absent, feeding a phase of consolidation in the precious metal, something also being endorsed by the converged SMAs. The short-term oscillators are also lacking clear suggestions relating to the price’s next path as momentum appears to have dried up. The MACD is flat beneath its static red trigger line slightly north of the zero threshold, while the [..]

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