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Gold surges to major $1250 resistance as uncertainty prevails

Gold surged Thursday on a breakout of its previous consolidation to hit and slightly exceed major technical resistance at $1250, a level not seen since early November...

Gold remains vulnerable amid hawkish Fed, strong dollar, equity highs

Gold has climbed sharply since the beginning of the year as the US dollar has pulled back from its late-2016 highs and the US Federal Reserve has exercised characteristic restraint in raising interest rates further after the last rate hike in December...

Gold well-supported on safe-haven flows, lagging dollar

Increasing political and economic uncertainties under the new Trump Administration, coupled with a sliding US dollar since the beginning of the year, have led to a sharp rise in gold prices for more than a month...

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Gold pressured as dollar and equities remain supported

As the US dollar found some new life on Thursday and US equity markets hovered right around their new all-time highs, gold extended its recent pullback well below the $1200 handle. Since late December, the price of gold had been in a sharp relief rally from its 10-month lows around $1125 support...

Crude oil maintains bullish trend

Oil prices were initially weaker at the start of the new week, but they have now recovered to trade almost flat at the time of this writing. At the weekend, the OPEC and some producers outside of the group met to discuss the progress of their oil production deal...

Trump press conference fails to deter equity bulls

President-Elect Donald Trump spoke on Wednesday morning at his first formal press conference since the November elections, and the markets were all ears. Trump covered a lot of ground with multiple topics that included...


Gold ripe for potential relief rally

The charts tell a clear story of the unrelenting plunge in gold prices since early November. This steep dive has been the result of several related factors, all of which have the potential to extend well into the new year. These largely Trump-driven factors include...

Could EUR/USD finally break 1.05 on this FOMC day?

The market is demanding a rate rise and the Fed better deliver it today, for if it doesn’t the bank’s credibly will be severely damaged. There is really no excuse not to do so. Economic data has been improving, financial markets are calm...

Mixed Jobs Report Keeps High Fed Expectations Intact

As we noted the day before Friday’s US jobs report, only a significantly worse-than-expected reading for November would have likely made the Federal Reserve’s next interest rate decision more difficult...

Silver lining for precious metals?

I do apologise in advance for bombarding you with lots of commodity reports, but ahead of Friday’s NFP report, the FX markets tend to create lots of false moves, so it is difficult to make much of todays moves...

Dollar has resumed its long-term upward trend

All the focus was on the UK Autumn Statement this afternoon as Chancellor Phillip Hammond took centre stage. However, the biggest moves occurred in the dollar rather than the pound or UK stocks...

Dollar hits 100: time for a pause?

The new week has started with a bang for the dollar. For the first time since December, the Dollar Index has moved above the psychologically-important 100 level. Investors had waited patiently for the US elections...


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Obstacles Ahead for Trump-Driven Markets

Donald Trump dramatic victory this past week in the US presidential election was further accentuated by his Republican Party retaining majority control in both chambers of Congress...

FOREX.com
Gold retreats amid stable markets, interest rate expectations

In the aftermath of the US election surprise, gold prices have been in a significant retreat as the US dollar has surged, global equity markets have stabilized and strengthened, and interest rates are increasingly expected to rise...

Dollar Rally Likely to Extend After Election

After the weekend surprise FBI announcement that it has found no evidence of criminal wrongdoing by Presidential Candidate Hillary Clinton in connection with her private email server, financial markets on Monday have clearly begun to price-in a Clinton victory...

Golden week for dollar but USD/JPY bucks trend

It has been a very good week for the US dollar and a really bad one for the euro and Canadian dollar, among others. The rally has lifted the Dollar Index to its highest level since early February and possibly on course to 100...

Gold barely hangs on as Fed chatter increases

With the US Federal Reserve increasingly likely to raise interest rates by the end of the year, non-interest-bearing gold has been running scared as of late. Just as the US dollar should benefit from any Fed rate hike...

Gold plummets as dollar surges

Spot gold plunged sharply on Tuesday, by more than 3% at its worst, as the US dollar surged and more signals emerged that a Fed rate hike this year may be increasingly likely...


Another crude roller-coaster ride for oil traders

North American investors are away in observance of the Labor Day. Understandably, it has been a quiet day in FX, bond and stock markets. But for one particular market, it has been an exceptionally volatile day...

Hawkish Fed, dovish ECB good news for EU stocks

Some of the mainland European stock indices eked out small gains last week despite the falls in US, UK and Japanese stock markets. However, at the start of this new week, global equities have rebounded across the board while the dollar has extended its gains further against a basket of foreign currencies...

Cable could snap back to reality

The recent improvement in UK data has seen many investors and analysts, ourselves included, ask a rhetorical question with a hint of sarcasm Brexit, what Brexit...


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Directionless Fed Confounds Markets

Market action this past week was dominated early in the week by mixed expectations regarding the Fed’s monetary policy stance ahead of Wednesday’s release of July FOMC minutes...

Flat Japan GDP fails to pressure yen

Preliminary Japanese GDP data (q/q) for the second quarter was released prior to Monday’s Asian trading session, and the results were a significant disappointment...

Markets round up

Meanwhile crude oil prices have stormed back to life over the past couple of weeks, albeit in a volatile manner. The latest trigger behind the rally has been attributed in the media to comments...


FOREX.com
Sterling increasingly pressured towards new long-term lows

The Bank of England’s interest rate cut to a new record low of 0.25%, and other stimulus measures implemented by the UK central bank last week in response to June’s Brexit decision, prompted even more pressure on sterling than had already plagued the struggling currency...

Crude long-term outlook remains bullish

Overnight saw crude oil extend its decline as concerns about oversupply were reinforced although prices have since rebounded ahead of the publication of the official weekly US crude inventories report later this afternoon. In its monthly report...

Crude oil extends plunge below $40/barrel

Crude oil prices continued to fall precipitously on Monday, with the West Texas Intermediate (WTI) benchmark for US crude dropping below $40 per barrel for the first time in more than three months. Monday’s fall extends the sharp downtrend that has been in place since the $51-area highs of June...


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Gold remains supported after Fed defers rate hike

In the immediate aftermath of Wednesday’s FOMC statement, in which the Fed held rates steady as expected while still acknowledging improved economic conditions, gold spiked down on the mildly hawkish elements of the statement...

Another non-committal non-event

As widely expected, the Fed opted once again to refrain from raising interest rates after its two-day meeting concluded on Wednesday afternoon. And as usual, market-watchers dug feverishly into the policy statement searching for any clues as to potential guidance on future rate hikes...

Focus shifts back to the Fed

Markets during the past week have been characterized mostly by a continued rally to new record highs for equity markets, most notably in the US where earnings season has entered full swing...


  


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