All Articles Tagged - gold

Daily Market Comment – Dollar shines after Clarida, BoE in the spotlight

Posted on August 5, 2021 at 8:29 am GMT

Dollar climbs as Clarida beats the rate hike drums, ISM hits record Bank of England meets today, sterling reaction hangs on QE votes Meme stocks return, gold takes a rollercoaster ride, oil slides Fed vice chief talks rate hikes It was a wild session in financial markets. The dollar took a hit early on after the ADP jobs report disappointed, only to stage a massive comeback after the Fed’s vice chief talked about rate increases and the ISM services survey [..]

US Open Note – Dollar jitters rise and commodity currencies flicker green

Posted on August 4, 2021 at 2:22 pm GMT

Dollar kept on back foot after huge ADP jobs miss What does today’s huge miss in the ADP Non-Farm Employment change say about Friday’s July NFP jobs report? Do the weaker numbers of 330K jobs gained in July versus the expectations of 695K and 692K in June dampen the picture of a strong US labour market? Do today’s employment results paint the opposite picture delivered by Fed Chairman Powell’s latest comments that employment is picking up at a good pace, [..]

Daily Market Comment – Wall Street sets new records, kiwi storms higher

Posted on August 4, 2021 at 8:45 am GMT

US stocks rally to another record high close, dollar quiet Kiwi skyrockets after stellar jobs data fuel RBNZ bets Gold lifeless, oil takes another hit amid demand worries Stocks cheer as earnings season delivers Wall Street continues to defy gravity. The S&P 500 cruised higher to close at yet another record peak yesterday, telling a much different story than the bond market, which has been feeling the blues lately. Worries that the Delta outbreak will take the wind out of [..]

US Open Note – Dollar fizzles despite tapering hints; European stocks at fresh record highs

Posted on August 3, 2021 at 1:08 pm GMT

Delta fears The rest of the day will be quiet in terms of data releases but there are enough things happening globally to keep investors busy in the next sessions. The delta outbreak has stretched to China, which has been out of the Covid headlines for a while, forcing authorities to halt flights and other public transports towards Beijing. With the second biggest economy of the world teaming up with other Asian economies to fight against the troubling new Covid [..]

US Open Note – Stocks return to Asia opening levels and dollar a tad lower

Posted on August 2, 2021 at 1:39 pm GMT

Market sentiment on back foot ahead of US ISM Manufacturing PMI US major indices have given up their Asian price improvements, as sentiment deteriorates on US infrastructure talks and in advance of the US ISM Manufacturing PMI, scheduled for 14:00 GMT today. Friday’s US mixed data may have also played a part, which reflected that consumer sentiment in July declined further from the levels in June with inflation expectations also slowing. Employment pay for Q2 was lower and the Core [..]

Technical Analysis – Gold eases back toward 1,800 after advances curbed

Posted on August 2, 2021 at 9:26 am GMT

Gold is currently at the red Tenkan-sen line at 1,811 looking set to continue the road to the 1,800 mark, after positive developments were halted by the 50-day simple moving average (SMA) and the July 15 high of 1,834. The converging SMAs are not conveying any definitive price bearing and thus are feeding a sideways trajectory. Furthermore, the horizontal Ichimoku lines are indicating that directional impetus is lacking, while the short-term oscillators are endorsing the commodity’s attempt to push lower. [..]

US Open Note – Stock indices to claim monthly gains despite jitters; dollar on the backfoot

Posted on July 30, 2021 at 1:18 pm GMT

Stock indices head for a monthly gain The month of July started with the impression that plans of monetary tightening could get more into fashion, adding a solid footing under currencies, while the earnings season could further brighten the outlook for stocks despite the inflaming virus numbers. Although the above backdrop has not entirely faded yet, the last week of the month found investors having second thoughts about how soon the Fed would wrap up its bond tapering plans as [..]

Daily Market Comment – Stocks falter again, bruised dollar seeks to end losing streak

Posted on July 30, 2021 at 9:07 am GMT

Market mood sours again as China crackdowns, mixed earnings and Delta fears all weigh Dollar halts slide but struggles to regain positive footing after dovish Fed and soft data Pound sets sights on $1.40 as others lag, gold battles to reclaim $1,830/oz Mixed week for stocks as risks mount Regulatory crackdowns in China, ongoing concerns about the Delta variant and warnings of slower earnings growth ahead all came to a head this week when it was meant to be all [..]

US Open Note – FOMC’s tone knocks the dollar

Posted on July 29, 2021 at 1:57 pm GMT

Markets barely react to US GDP miss as Chairman Powell still on their mind; Eurozone inflation comes in strong The major US indices managed to remain resilient after yesterday’s FOMC comments from Chairman Powell, who signalled that patience is needed as there is still a ways to go before tighter policy. Markets have hardly reacted to the release of US GDP and jobless claims in relation to the expansion of the US economy in the Q2. The US economy grew by 6.5% in the [..]

US Open Note – Stocks muted near highs, dollar firms

Posted on July 28, 2021 at 1:16 pm GMT

Markets prepare for FOMC release Yesterday’s consumer confidence for July ticked only marginally higher from June confirming optimism in the US, however, the dollar index weakened slightly, before stabilizing around the 92.50 level ahead of the Federal Open Market Committee meeting. Expectations are that Federal Reserve Chairman Jerome Powell will once again be watchful of his rhetoric towards tapering of asset purchases and the timeline and commencement of such actions. Markets will also be ready to digest any clues from [..]

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