The US 30 stock index managed to test the 38.2% Fibonacci retracement level (23,645) of the downward move from 26,960 to 21,596 today after a buoyant rally last Friday. Technical indicators are suggesting more gains in the short term, with the MACD jumping above its trigger line in negative territory and the RSI approaching its 50 neutral level, though with weaker momentum. […]
The European Commission is publishing its final Business and Consumer Survey for 2018 on Tuesday at 1000 GMT. While the numbers stood at 18-year highs at the end 2017, creating euphoria that the uptrend would continue in the near future, the confidence indicators moved to the downside during 2018 and are now forecasted to finish the year even […]
Gold has rebounded on the 1276.56 support level in the preceding week after the downfall from the almost seven-month high of 1298.47. The rally brought the price above the 20- and 40-simple moving averages (SMAs) in the 4-hour chart, endorsing the outlook to a strongly positive one. Technically, the RSI indicator is sloping marginally down while […]
On Monday, the Australian and New Zealand dollars kept close to the weekly highs, as risky assets came back in demand amid expectations that politicians around the world would take action to support economic growth. Immediately, three events on Friday gave support to risky currencies. First, Beijing announced a new round of trade negotiations with […]
China and the United States began official negotiations this morning to resolve the trade conflict. Over the past month, the parties exchanged telephone consultations, and now they have met with their own eyes as the American delegation flew to Beijing for this purpose. The meeting takes place at a fairly “high” level, thus, its results […]
Morning Report: 07.00 London The dollar index is pulling back further this morning, testing the December lows as traders shun the need for safe havens amid hope of a trade deal between the US and China. Dollar pairs are higher, led by the AUD/USD which has recovered from the New Year flash crash to trade […]
In 2018, the price of crude oil had an interesting year. After rising steadily to the highest levels in three years, the price started crumbling in early October. This happened after the United States offered a number of countries waivers to continue doing business with Iran. Initially, investors expected the withdrawal of Iran to lead […]
In most countries, regulators exist to act as a watchdog for the consumers. In the United States, the Securities Exchange Commission (SEC) role is to ensure that investors are well-protected from rogue companies. There are other regulators such as the Federal Trade Commission (FTC) and Commodities Futures Trade Commission (CFCTC). At a micro level, the […]
Emerging markets are countries that have demonstrated significant growth in the past few decades. In the past few years, these countries have become the focus of investors because they expect them to continue overperforming. In the past, terms like BRICS (Brazil, Russia, India, China, and South Africa) have been coined to illustrate the best-performing EM […]
Doom, gloom and risks ahead… “GLOOMY gold pundit forecasts chaos, says you must buy gold today!” Hardly a headline worth reading, I know, writes Adrian Ash at BullionVault in the third and final part of this festive series. But next year could well bring several things to the boil… …from the […]
US Jobs report impress, Powell backs flexible policy China cuts reserve requirements amid slowing economic activity Loonie jumps to 3-week highs Nonfarm payrolls impress but Powell sounds cautious; China takes further monetary easing steps The US Jobs report beat expectations on Friday, brushing away fears of a cooling labour market and a slowing economy. Nonfarm payrolls jumped by 312k […]
What do bullion experts forecast for next year…? SPARE a thought this Christmas for the poor bullion-market analyst, writes Adrian Ash at BullionVault, picking up where he left off last week. Slaving all year over spreadsheets of Shanghai gold premiums, ETF flows and Comex positioning, for them the season of goodwill brings a […]
EURUSD is challenging the long-term descending trend line, creating positive movement in the narrow range. The price has been developing within a consolidation area over the last three months with the 1.1480 resistance level as the upper boundary and the 1.1265 support barrier as the lower boundary. If the price jumps above the diagonal line, it would change the […]
GOLD PRICES rose Monday against a declining Dollar following US Federal Reserve chief Jerome Powell’s promise to be “patient” before making any 2019 hikes to interest rates, writes Atsuko Whitehouse at BullionVault. Spot gold prices peaked 0.7% above Friday’s closing level, touching $1295 per ounce but holding dead-flat for UK and Eurozone investors at […]
Industrial production out of Germany, the UK and France will dominate the economic calendar next week, keeping investors’ attention firmly on the growth outlook for 2019. The Bank of Canada will be the first of the major central banks to hold a policy meeting this year, while the highlight in the US will be the […]
To open long positions on EUR / USD pair, you need: A good report on retail sales in Germany and the Eurozone supported the European currency in the first half of the day, which led to consolidation above 1.1435. While trading is conducted over this range, you can count on continued growth with an update […]
To open long positions on GBP / USD, you need: At the beginning of the week, the situation with Brexit leaves many questions, but the demand for the pound remains in view of the optimism associated with the positive decision of the parliament. At present, a good signal to buy will be a false break […]
Morning Report: 07.00 London Yen pairs are stabilising this morning following the flash crash overnight on Wednesday. Talk of Chinese economic interventions have also helped calm regional currencies. The USD/JPY is rallying for the second day, but remains well below 2019’s dramatic plunge. The AUD/JPY rallied well yesterday, climbing to erase half of the flash […]
Morning Report: 07.00 London Markets are still reeling after Apple’s shock earning’s warning which turned the focus to a softening Chinese economy. Slow iPhone sales in China have combined with worse than expected China Manufacturing PMI to drive markets into the safe havens of the yen and dollar. The USD/JPY is now down by over […]
Morning Report: 07.00 London The US dollar remains under pressure, posting its third straight day of declines as pressure mounts on the Fed to ease its hawkish stance. Dollar pairs are mixed, with the GBP/USD recovering after gapping lower at the open following Monday’s unexpected advance above 1.2800. The AUD/USD reached a three year low […]
Brent crude oil futures with delivery in March 2019 have rebounded after falling to a fresh 16-month low of 50.00 on December 26. The momentum indicators are suggesting that the market sentiment might get even better as the MACD is strengthening its movement above the trigger and zero lines, while the RSI indicator is flattening near the […]
Morning Report: 07.00 London As we enter the final trading day of 2018, the dollar is slipping back, but remains firmly in the driving seat of currency moves. The big driver in the short term is the Japanese yen, with the USD/JPY dropping below the 110.50 support level after Friday’s plunge. The EUR/JPY also remains […]
Japanese stocks close in the red on global growth fears in their first trading day of 2019 US Nonfarm payrolls and Powell’s remarks to affect bearish sentiment Euro and pound recover with caution Loonie hits two-week highs as oil prices surge Japanese stocks join harsh sell-off, yen down on trade news Japan’s stock market returned […]
GBPJPY is seeing a pause in the selling pressure after reaching a more than two-year low around 132.48 on Thursday, with the MACD hinting a continuation of the rebound, fluctuating above trigger line in the 4-hour chart. However, the RSI indicator is sloping down in the negative territory, despite the latest upside pullback in the market. Further […]
As the Federal Reserve toys with slowing down the pace of rate hikes, attention will now shift to other central banks. Among them, the European Central Bank (ECB) will be watched closely. This is because after the Fed, it is the most powerful central bank in the world. It also controls the second-most used currency […]
In the past two months, the amount of volatility in the financial market has increased significantly. The VIX index which measures the amount of volatility in the market has increased to more than 20. These are the highest levels since early this year. Even without the index, the daily movements in the markets have become […]
EUR/USD has been residing inside the corrective and volatile range between 1.1200 to 1.1500 area for a few weeks. EURO managed to gain momentum having better economic results published today while USD struggling with the mixed Employment reports published recently. EUR having series of worse economic reports published recently lead to losing certain grounds against […]
BUY GOLD prices in London’s wholesale market fell $15 from nearly touching $1300 per ounce Friday after new data showed much stronger-than-expected US jobs growth at the end of 2018. Trading down to $1284, gold priced in Dollars still headed for a 0.5% weekly rise, its third consecutive such rise – and the longest […]
GOLD PRICES rose yet again in all major currencies bar the Japanese Yen on Thursday, extending New Year 2019’s gains to new all-time record highs against the Australian Dollar as Asian trading saw fresh turmoil in currency and equity markets. The UK gold price in Pounds per ounce touched £1032 when Asian trade began, […]
Since December 17, within four days, the Bitcoin price recovered from $3,181 to $4,073 by 28 percent on most major fiat-to-crypto exchanges. But, on a 30-day basis, the value of the dominant cryptocurrency still remains down about nine percent from $4,400 and still has to surpass resistance levels above the $4,400 mark to confirm a […]
