All Articles Tagged - gold

US Open Note – Stocks drift at record highs and dollar loses some resilience

Posted on July 27, 2021 at 1:35 pm GMT

Markets freeze as Fed meeting underway; US Consumer Confidence ahead It seems continued selling in Chinese tech giants has somewhat hampered risk appetite, which has been further muted as investors hold a cautious stance awaiting the conclusion of the Federal Reserve’s policy meeting tomorrow. The Fed is faced with a slightly more difficult task in this meeting as it will have to expand on the delta variant’s impact over bond yields as opposed to the outlook on rising prices, not [..]

US Open Note – Calm day ahead of busy week; US futures are flat

Posted on July 26, 2021 at 12:58 pm GMT

Quiet day ahead of Fed meeting this week The US dollar has a negative momentum ahead of the FOMC meeting this current week. US 10-year treasury yields declined to a record low of 1.13% before recovering to 1.20 driving the dollar index down to 92.70. Dollar/yen is holding near 110.30 and is currently red, while US futures are neutral. The Fed meeting will focus on the concerns about the economy and the expectation is to tread carefully on the path [..]

Daily Market Comment – US equities shine ahead of Fed but caution prevails elsewhere

Posted on July 26, 2021 at 8:57 am GMT

Wall Street rallies on strong earnings even as US Covid hospitalizations surge Caution is the order of the day elsewhere as Delta and growth fears linger Dollar starts Fed week on steady note but yen and gold inch higher, yields slip again US stocks ride high; can anything spoil the fun? Wall Street ended Friday in a euphoric mood as Q2 earnings continued to beat expectations, but trading has gotten off to a much more cautious start on Monday, with [..]

Technical Analysis – Gold still flirts with 1,800; neutral outlook

Posted on July 26, 2021 at 7:11 am GMT

Gold prices are flirting with the 1,800 psychological level and the 20-day simple moving average (SMA), which are acting as strong support zones. The stochastic oscillator is ticking higher above the oversold area, creating a bullish cross within the %K and %D lines. Moreover, the RSI indicator is edging marginally up near the neutral threshold of 50. If the price remains above the 1,800 round number, it could open the door for the immediate resistance lines such as the 40- [..]

Weekly Comment – Fed meeting and a barrage of data coming up

Posted on July 23, 2021 at 11:42 am GMT

The week started with investors losing their cool over a slowdown in global growth as the Delta variant continued to rampage, but the panic soon faded and stock markets returned to record highs. Meanwhile, the EUR took some fire after the ECB locked itself into negative rates for longer. The coming week will be action-packed too, featuring a Fed meeting, earnings from the biggest tech firms, and a ton of crucial data. The highlights: The main event will be the [..]

Daily Market Comment – ECB to commit to negative rates

Posted on July 22, 2021 at 8:43 am GMT

ECB meets, likely to lock itself into cheap money for longer Wall Street approaches record highs again as Delta scare fades Dollar pulls back, commodity FX recovers, gold can’t catch a break ECB to strengthen forward guidance The main event today will be the European Central Bank meeting, which should be interesting after President Lagarde promised to deliver new policy signals. The central bank recently raised its inflation target and it wants to demonstrate that it is serious about hitting [..]

US Open Note – Markets recoup and dollar stays upbeat

Posted on July 21, 2021 at 1:44 pm GMT

Markets retain buoyancy as forex arena looks to ECB decision The domino effect from the latest delta variant shock around infection spikes seems to have been short lived as US major indices today continued to recoup recently surrendered ground. Concerns after the initial jolt to markets around the virus rhetoric seem to have subsided somewhat. The US dollar index seems cemented around its recent highs and the pickup in the 10-year yield to 1.24% may be aiding the reserve currency [..]

Technical Analysis – Gold dives further, tests 1,800 level

Posted on July 21, 2021 at 12:38 pm GMT

Gold has been falling hard in recent sessions, slipping below the crucial levels such as the 38.2% Fibonacci retracement level of the down leg from 1,916 to 1,750 at 1,813 and the short-term SMAs as well as the key 1,800 barrier. The stochastic oscillator is holding in the oversold region, while the RSI is extending its bearish structure in the negative area. If the price dips further, immediate support could come from the 23.6% Fibonacci of 1,790 before plunging towards the two-and-a-half-month low of 1,750, [..]

Daily Market Comment – Economic growth worries torment stocks and oil

Posted on July 20, 2021 at 8:45 am GMT

Economic slowdown concerns hit stocks, oil gets demolished Commodity currencies struggle too, dollar and yen shine But the panic could fade soon, as stimulus hopes return Pandemic blues hit markets Worries that the rampaging Delta variant will hamstring the global recovery took a bite out of riskier assets on Monday. Markets seem to be coming to the realization that the vaccines won’t be enough to completely obliterate the virus, as the mutations keep getting more resilient. Many governments are also [..]

US Open Note – Pandemic anxiety spurs risk aversion; Wall street futures in the red

Posted on July 19, 2021 at 1:02 pm GMT

Pandemic uncertainty resurfaces The cocktail of a contagious Covid delta variant and the stabilization in vaccinations revived memories of lockdown restrictions and amplified inflation fears at a time when investors were confident that the summer months could boost economic growth, especially in the hardest-hit tourism sector. The major concern is how the pandemic will evolve when the flu activity resurfaces in the last quarter of the year and whether governments will reimpose strict curbs or let herd immunity do its [..]

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