Technical Analysis – Gold remains neutral as negative sentiment takes a breather

Posted on December 10, 2019 at 9:50 am GMT

Gold’s recent push lower has come to a standstill at the 1459 level while at the same time the ADX indicates an absence of a trend. The loss in steam – in the still neutral-to-bearish picture – is also reflected by the flattening of the 50- and 100-period simple moving averages (SMAs) and the short-term oscillators. The oscillators reflect a stall in negative momentum. The MACD, is in the negative region and below its red trigger line but has eased [..]

Daily Market Comment – Dollar jumps on solid NFP; markets brace for huge week

Posted on December 9, 2019 at 9:21 am GMT

Greenback and stocks cheer after blockbuster jobs report, but yen tells a different story Loonie nosedives on weak employment data, despite higher oil prices Calendar is low key today, but week is packed: Fed, ECB, UK election, tariff decision Dollar shoots higher as nonfarm payrolls smash expectations It was all about the US employment data on Friday, which easily beat forecasts. Nonfarm payrolls clocked in at 266k, much higher than the expected 180k, with last month’s print also revised up. [..]

Technical Analysis – Gold in neutral mode within tentative descending channel

Posted on December 2, 2019 at 8:33 am GMT

Gold has been light in terms of volatility over the past two weeks, sliding sideways within a tentative downward sloping channel that remains intact since early September. The momentum indicators continue to suggest a neutral-to-bearish bias for the short-term as both the RSI and the MACD have yet to show a clear direction in the bearish area, with the former ranging below its 50 neutral mark and the latter holding flat around its red signal line. A downside reversal in the price [..]

Daily Market Comment – Dollar and stocks jump, but trade worries keep investors on edge

Posted on November 28, 2019 at 9:27 am GMT

Solid US data dispel economic slowdown concerns, send dollar & stocks up Yet, optimism takes a hit after Trump signs Hong Kong bill, enraging China Sterling lifted by Yougov model projecting a clear Conservative victory Dollar and stocks climb on strong data, but China worries curb optimism Worries that the American economy may be headed for a recession took a breather yesterday, after the latest batch of US data beat forecasts, sending the dollar higher alongside Treasury yields as traders [..]

Technical Analysis – Gold moves sideways, sellers still eye lower levels

Posted on November 25, 2019 at 9:50 am GMT

Gold sellers are attempting to steer past the recent swing low of 1456 to put the asset back on a negative track. Despite the rebound off 1446 – which is the 38.2% Fibonacci retracement of the up leg from 1266.20 to 1556.92 – and the consolidation in price, the 200- and 100-day simple moving averages (SMAs) still suggest the commodity could lose further ground. The short-term oscillators lean towards the negative picture even though the market seems to have paused. [..]

Daily Market Comment – Dollar powers higher; trade hopes boost risk appetite

Posted on November 25, 2019 at 9:34 am GMT

Greenback soars after latest PMIs reaffirm US economic outperformance Risk appetite recovers as China reportedly prepares to crack down on IP issues Pound slips on soft PMIs, but recovers as polls show Tories extending lead Dollar rips higher after promising PMIs, capitalizes on euro softness The world’s reserve currency outperformed on Friday, after the preliminary US Markit PMIs for November rose by more than anticipated, prompting traders to scale back bets that the Fed will cut rates in the coming [..]

Daily Market Comment – Stocks slide as trade deal doubts grow; yen holds firm

Posted on November 21, 2019 at 9:37 am GMT

Fears grow that a ‘phase one’ trade deal between the United States and China might be delayed Row over Hong Kong adds to complications in talks as China plays down disagreement Stocks under pressure, yen and gold extend gains Oil eases on trade woes following surge from US inventories and Russia output pledge   Reports of a delay in ‘phase one’ deal keeps risk aversion elevated Markets maintained a cautious mood on Thursday as conflicting reports about where the US-China [..]

Daily Market Comment – Yen and gold creep higher on trade nerves; Fed minutes eyed

Posted on November 20, 2019 at 9:30 am GMT

Increased caution on US-China trade talks gives rise to safe-haven demand Hong Kong tensions cast cloud over trade progress as US Senate bill angers China Pound pressured after Johnson-Corbyn televised debate Mixed signals on trade talks put a lid on risk appetite Risk sentiment soured slightly on Wednesday as investors grew wary about the possibility of the United States and China striking a partial trade deal in the coming weeks. The renewed caution comes amid growing tensions between the two [..]

Daily Market Comment – Trump teases negative rates, spooks dollar

Posted on November 19, 2019 at 9:04 am GMT

Dollar drops as Trump meets Powell to discuss interest rates and FX US stocks shrug off negative trade headlines, claim new record highs Aussie pulls back after RBA minutes, but recovers Dollar retreats as Trump discusses negative rates with Powell Fed Chairman Jay Powell met with President Donald Trump on Monday to discuss the economy. The latter then tweeted out that the conversation centered around how high US interest rates are relative to other advanced economies, the prospect of negative [..]

Technical Analysis – Gold stays within tentative descending channel

Posted on November 18, 2019 at 8:27 am GMT

Gold recouped a small portion of its losses last week to close slightly positive after finding support at 1,445 and near the bottom of a tentative descending channel. Despite the rebound, the price remained slightly below its 20- and 50-simple moving averages (SMAs) that maintain a bearish cross and under the Ichimoku cloud. Meanwhile in momentum indicators, signals are also discouraging as the RSI was unable to return above its 50 neutral mark and the MACD held stable below its red signal [..]

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