gold

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Technical Analysis – Gold loses momentum near 1,800

Posted on February 24, 2021 at 7:06 am GMT

Gold has lost its positive momentum after the pullback off the 1,815 resistance in the very-short term, but is still remaining above the 20- and 40-period simple moving averages (SMAs). The market could retain the negative trading as the RSI is pointing downwards in the positive region, while the stochastic is heading down as well. Should the pair stretch south, the 40- and then the 20-period SMA could provide immediate supports at 1,796 and 1,793 respectively. A step lower could bring [..]

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US Open Note – Dollar up, stocks sharply lower ahead of Powell’s testimony

Posted on February 23, 2021 at 2:10 pm GMT

Waiting for Powell to respond to inflation expectations Rising inflation expectations and the rally in bond yields will be examined during Powell’s semi-annual testimony before the Senate at 15:00 GMT as markets will be eagerly waiting for the Fed chief to update his views regarding price growth, economic expansion and the outlook for monetary policy. Although Powell may prefer to play it safe, reiterating that downside economic risks continue to linger in the background and that it is too early [..]

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US Open Note – Wall Street could open with tears as bond yields weigh

Posted on February 22, 2021 at 2:16 pm GMT

Euro holds resilient above 1.2100; European stocks set for a negative close World shares kicked the week off on a negative note as the endless rally in bond yields made equity valuations look more stretched than they already are. Discussions about reopening plans in Europe created optimism that the vaccine rollout, although delayed, could put the region on a positive path, with investors turning somewhat sensitive to data releases for any early sign. Hence, the upside surprise in the German [..]

Daily Market Comment – Stocks under fire, dollar breathes as bond yields soar

Posted on February 22, 2021 at 9:41 am GMT

Relentless grind higher in bond yields bites stocks, stabilizes dollar Dollar becoming the US currency again, instead of a safe haven? Yen crumbles despite risk-off mood, sterling shines, gold adapts Bond market ruins the party in equities The non-stop rally in global bond yields has started to infect other asset classes, bringing the party in stock markets to a halt and breathing some life back into the devastated US dollar. There hasn’t been any major news, so this repricing appears to be [..]

Technical Analysis – Gold’s death cross flags trend deterioration as bulls push higher

Posted on February 22, 2021 at 8:18 am GMT

Gold is looking to claim the 1,790 resistance which kept the market on the downside over the past couple of days. The RSI is endorsing the current positive momentum in the price as the indicator is trying to recover after refusing to create fresh lows in the bearish territory. The upside reversal in the Stochastics is also adding to this optimism. However, in terms of the trend, technical signals have further deteriorated following the death cross between the 50- and [..]

Daily Market Comment – Higher yields start to bite but dollar mired in recovery doubts

Posted on February 19, 2021 at 9:59 am GMT

Long-term Treasury yields climb again, dampening the mood in equity markets Stocks and gold slide, but dollar stumbles over poor jobless claims figures Pound hits $1.40, unbruised by big retail sales miss; aussie soars Surge in global bond yields spooks markets Global bond yields are creeping higher again after a brief reprieve mid-week. The record issuance of government bonds and expectations of even greater borrowing to fight the pandemic have sparked a bond selloff as the reflation trade gets into [..]

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Technical Analysis – Gold slides as downside risks intensify

Posted on February 17, 2021 at 4:17 pm GMT

Gold has pushed below the 1,785 trough from February 4 and seems to be maintaining a bearish tone, something also reflected in the falling red Tenkan-sen line. The RSI and the MACD are further feeding the downwards push as the MACD is declining below its red trigger line in the negative region, while the RSI is dipping in oversold territory. That said, the slightly flattening blue Kijun-sen line is indicating some waning in selling interest, while the stochastic oscillator is [..]

Daily Market Comment – Rising US yields resuscitate dollar, scare equities

Posted on February 17, 2021 at 9:53 am GMT

Treasury yields jump again as stimulus draws closer, inflation bets continue to rise Dollar soars against yen, crashes gold; stocks ease back but no sign of panic Oil holds firm amid US disruptions, copper surges on growth optimism Yields rise across the board but only dollar shines The yields on long-term Treasury notes have been creeping higher again as investors continue to price in a mega stimulus package in the United States. But it’s not just expectations of record debt [..]

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US Open Note – Yen gets hammered; Boris looks to exit lockdown

Posted on February 15, 2021 at 2:26 pm GMT

It’s a risk-on day It’s a bright day for markets as upbeat Q4 GDP growth figures out of Japan coupled with falling global infection cases bolstered hopes that the economic recovery could gain steam in the year ahead. Following the strong bounce in Asian indices, which sent the Nikkei 225 up to 30,000 for the first time in three decades, European equities received a slice of interest too. The German DAX 30 was flirting with its recent record highs, while the Euro STOXX 600 was [..]

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Technical Analysis – Gold’s crawl sideways retains negative bug below SMAs

Posted on February 15, 2021 at 9:49 am GMT

Gold although trading between 1,785 and 1,875 has been holding in a bigger buffer zone of 1,764-1,974, from the late months of the previous year. The simple moving averages (SMAs) are drawing closer together and are adopting a more horizontal bearing, which is endorsing a neutral tone in the precious metal. Yet, the commodity is exhibiting a slight preference southwards after a recent deflection off the 200-period SMA around 1,850. Furthermore, the falling Ichimoku lines are backing negative price action, [..]

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