All Articles Tagged - gold

US Open Note – Stocks log slight gains while greenback is unreactive

Posted on June 24, 2021 at 1:52 pm GMT

Stocks glow temporarily and dollar digests US GDP and jobless claims While stocks marginally pick up and the Nasdaq 100 index claims a new all-time high, the threat of rising inflation, associated with supply bottlenecks, continues to be somewhat downplayed. Furthermore, Fed-taper talks are said to be on the horizon, but a far ways down the road, with Fed Chair Powell highlighting that they will not act hastily towards higher interest rates. Today, the 10-year Treasury yield rose slightly to [..]

Technical Analysis – Gold ranges below 1,800 while downside risks endure

Posted on June 23, 2021 at 2:29 pm GMT

Gold is consolidating around its red Tenkan-sen line after aggressively taking a downturn from its 200-period simple moving average (SMA), and finally constructing some footing just shy of the April 29 trough of 1,756. The falling 50- and 100-period SMAs, and their recent bearish crossovers of the 200-period SMA, are enhancing negative pressures. The recently adopted horizontal bearing of the red Tenkan-sen line is suggesting downside powers have eased, while the falling blue Kijun-sen is defending negative forces. That said, [..]

US Open Note – Dollar unlocks new yearly high versus yen; oil posts new high

Posted on June 23, 2021 at 12:53 pm GMT

Dollar/yen flies above 111.00; US futures in red As markets wait for US Markit preliminary readings at 13:45 GMT, the dollar is edging higher. After two red days, the dollar index is practically unchanged below 92.00. The US dollar continues to rise versus the Japanese yen, creating new highs for the year, jumping above 111.00. Following Powell’s remarks, stocks rallied; however, US futures are currently trading flat on Wednesday. The single currency is heading above $1.19 but is still stuck [..]

US Open Note – Stocks stabilize and dollar strength lingers

Posted on June 22, 2021 at 1:41 pm GMT

Stocks level as yields support dollar; eyes on Fed Chair’s testimony US major indices are currently poised after yesterday’s rally that recaptured the ground lost after the Fed’s hawkish shift and indication that tapering is on the horizon, along with two interest rate hikes in 2023. Higher dot plot predictions alongside revised inflation and economic projections have slightly jolted markets. In general markets are reacting to employment and inflation more than other market drivers and risk appetite today appears subdued, [..]

Daily Market Comment – Wall Street bounces back, dollar takes a break

Posted on June 22, 2021 at 9:23 am GMT

· Stock markets reclaim lost ground, dollar pauses as Fed worries abate · Oil grinds higher amid fading hopes for US-Iran deal, gold stabilizes · All eyes on Fed chief Powell’s testimony today at 18:00 GMT Don’t fear the Fed The inflation trade took a beating after the Fed’s seismic signals about faster rate increases, but the blues didn’t last long. Wall Street staged a massive comeback on Monday as market participants concluded that cheap money is helpful, but not [..]

Daily Market Comment – Fed aftershock deepens in equities but dollar pauses for breath

Posted on June 21, 2021 at 9:09 am GMT

Fed’s normally dovish Bullard sees 2022 rate hike, Wall Street crumbles Rout stretches on but dollar rally eases, gold catches a bid Markets dreading key Fed speakers this week including Powell US yield curve flattens, roils markets The US yield curve flattened further on Monday as investors continued to adjust their rate hike bets, steepening the short end of the curve while pushing long-term borrowing costs sharply lower. Markets are still coming to terms with last week’s FOMC bombshell when [..]

US Open Note – Dollar charts best week of 2021; stocks, commodities under pressure

Posted on June 18, 2021 at 1:18 pm GMT

Dollar keeps FOMC power The US dollar, the world’s reserve currency, is heading for its best weekly trade in nine months buoyed by the FOMC’s hawkish turn, which bolstered the outlook for the US economy and put European currencies and commodities on the back seat. US stocks fall but tech sector holds resilient Global stock indices also retreated in fear of higher interest rates for US businesses in the next few years and on concerns other central banks could also [..]

Daily Market Comment – Nasdaq hits new record as markets say inflation is dead

Posted on June 18, 2021 at 8:51 am GMT

· Tech stocks power higher as markets bet Fed will tame inflation · Dollar keeps rampaging, gold heads for massive weekly losses · Pound struggles after soft data, quadruple witching coming up Inflation-linked trades fall apart Bets for raging inflation in the coming years are being unwound at a stunning pace, sparking all sorts of havoc in the markets. It all comes back to the Fed, which signaled that the days of infinite liquidity are drawing to an end and [..]

US Open Note – FOMC hangover supports dollar as euro and gold dig lower; BoJ rate decision ahead

Posted on June 17, 2021 at 1:23 pm GMT

FOMC triggers much awaited volatility After a period of calmness, the upward revision in the FOMC rate projections displayed in the long-awaited dot plot came to shake the waters late on Wednesday, reviving the rally in global bond yields and of course amplifying the buying confidence in the dollar. In fact, investors had pretty much acknowledged that the monetary policy in the US will be a one-way path to tightening in the coming years even before the hawkish announcement. However, [..]

Daily Market Comment – Fed bombshell turbocharges dollar, sinks gold and stocks

Posted on June 17, 2021 at 9:19 am GMT

· Fed shocks markets by forecasting much faster rate increases · Dollar storms higher, stocks retreat, gold cracks · Blockbuster data trim losses in aussie and kiwi, focus turns to BoJ FOMC signals two rate hikes in 2023 The Fed sent shock waves through financial markets yesterday after it signalled that rates will likely rise faster than previously expected and that a decision to wind down asset purchases may be just around the corner. The dot plot of interest rate [..]

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