All Articles Tagged - gold

Technical Analysis – Gold consolidates above 1,800 as positive impetus dies down

Posted on July 12, 2021 at 9:38 am GMT

Gold’s latest rally that began from the 1,750 level seems to have slowed down just above the 1,800 mark. Directional forces seem to have toned-down, something also being reflected in the overall weakened bearings of the simple moving averages (SMAs), and the horizontal Ichimoku lines. The short-term oscillators are also transmitting conflicting signals in directional momentum. The MACD, in the bearish region, is improving above its red trigger line, while the RSI appears to be lacking positive drive to push [..]

Daily Market Comment – Stocks and dollar stabilize as bond chaos cools

Posted on July 9, 2021 at 8:24 am GMT

Stock markets and FX pairs cool down after seismic moves Everything revolves around the bond market – is the squeeze over? Gold recovery stalls, ECB minutes and Canadian jobs coming up Is the bond market short squeeze done? After a week of mayhem across global markets, calmer tones are finally prevailing. The source of all the stress was the bond market, where yields started to break down. Such a move usually signals worries about weaker economic growth, which would ultimately [..]

US Open Note – Safe havens shine as risk-off sentiment spikes; euro in the green despite ECB’s policy review

Posted on July 8, 2021 at 1:29 pm GMT

Demand for safe havens resurfaces Thursday’s trading session had a bitter taste for riskier assets as investors slipped into second thoughts about how sustainably the global economy could grow in the year ahead, with global stocks plummeting, and safe havens rocketing. What has triggered this risk-off reaction in markets is not clear yet, but the reasoning could be a combination of facts from accelerating infections of the delta Covid-19 variant to the Fed’s patient tone on monetary tightening to China’s [..]

Technical Analysis – Gold consolidates around 1,800 level; upside risks remain

Posted on July 7, 2021 at 3:41 pm GMT

Gold is sustaining its one-week progressive trajectory, which began from the 1,750 low, in spite of its recent pullback from the 1,815 mark. The upturn in the 50-period simple moving average (SMA) is promoting a forthcoming bullish crossover with the 100-period SMA, currently around 1,790, which would boost the very near-term uptrend that commenced at 1,750. That said, the bullish Ichimoku lines are reflecting a pause in the upside drive. Currently, the short-term oscillators are transmitting mixed signals in directional [..]

US Open Note – Stocks remain upbeat and dollar stabilizes

Posted on July 7, 2021 at 1:52 pm GMT

Softened market mood prepares for US job openings and Fed minutes The Nasdaq 100 remains comfortably at its highs, while the S&P 500 and the Dow Jones Industrial Index have largely recouped the minor setback related to yesterday’s ISM PMI data. Markets have calmed and the dollar index is consolidating around 92.50, following its latest gains. The minor cooling of the US economy along with 10-year yields dropping to 1.30% have barely hurt the dollar. That said, four straight months [..]

Daily Market Comment – Risk aversion hits stocks, revives dollar

Posted on July 7, 2021 at 8:52 am GMT

Risk aversion hits stock markets, breathes life back into dollar Yen shines as US yields decline, oil under pressure, gold cools Fed minutes today could decide if this volatility episode lasts Pandemic-style worries haunt markets It was an explosive session across financial markets on Tuesday as risk aversion made a rare comeback. The underlying theme was fear, but with a pandemic-style flavor. Investors essentially slashed their exposure to assets that are linked to the real economy and looked for shelter [..]

US Open Note – Stocks tread water around highs and dollar ticks up

Posted on July 6, 2021 at 2:31 pm GMT

Markets process June ISM services PMI Markets seem somewhat muted around their highs after Friday’s mixed payrolls report but the greenback’s demeanour has strengthened slightly. Although global recoveries are on the right path, markets continue to try and clearly decipher the plans or approaching plans of central banks gradually ending accommodative policy. The dollar index has improved to 92.40, while the euro and sterling faded from their intraday highs but held above the $1.1800 and $1.3800 borders. Spikes in infections [..]

Daily Market Comment – Aussie and kiwi capitalize on softer US dollar, oil roars

Posted on July 6, 2021 at 8:36 am GMT

Australian dollar storms higher after RBA slows asset purchases Kiwi jumps too, capitalizing on softer US dollar and RBNZ pricing Oil prices cheer as OPEC abandons talks, gold pushes higher RBA takes half measures, aussie still soars The Reserve Bank of Australia took the first step towards exiting cheap money policies at its meeting today. It signaled that asset purchases will slow down since the economy is much stronger than earlier expected, but tried to neutralize this optimistic message by [..]

Technical Analysis – Gold creates bullish correction still below 1,800

Posted on July 5, 2021 at 7:58 am GMT

Gold prices are moving higher after the bounce off the 1,750 support level, crawling above the 23.6% Fibonacci retracement level of the down leg from 2,074.89 to 1,676 at 1,770. The stochastic oscillator is approaching the overbought territory, while the RSI is pointing upwards in the negative region. However, the 20- and 40-day simple moving averages (SMAs) have crossed below the 200-day SMA, sending unfavourable signals for the market trend. Immediate resistance could occur between the 1,800 psychological level and the 20-day SMA currently at 1,810. More [..]

US Open Note – Dollar slips as NFP report is mixed

Posted on July 2, 2021 at 1:04 pm GMT

Dollar dives after NFP report; unemployment rate advances to 5.9% The US payrolls figure has stolen the attention of traders today as has taken the markets by surprise. The dollar lost some ground after the publication of the non-farm payrolls report, falling near 111.30 against the yen after a strong bullish start towards 111.70 earlier in the day. The US dollar index is moving lower after it topped at 92.74 during the release, while S&P 500, Nasdaq 100 futures and Dow Jones are recording new [..]

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