FXTM information and reviews
FXTM
93%
IronFX information and reviews
IronFX
92%
Libertex information and reviews
Libertex
91%
FXCC information and reviews
FXCC
90%
Markets.com information and reviews
Markets.com
89%
FxPro information and reviews
FxPro
88%
EUR/USD
1.1727
BTC/USD
42 443.82
GBP/USD
1.3662
USD/JPY
109.2815
USD/CHF
0.9239
USD/CAD
1.2793
EUR/JPY
128.1496

Dollar flickers to life. Gold takes a breather


15 May 2019

Dollar bulls made an unexpected appearance on Tuesday afternoon despite the mood across financial markets improving on revived trade optimism.

Investors seem cautiously optimistic over the United States and China finding some middle ground on trade after Trump said he will meet President Xi Jinping at the G20 summit in late June. While global sentiment could find short term support from this burst of positivity, it does not change the fact that Washington and Beijing have raised tariffs on the other’s goods.

While the Greenback is likely to push higher if talks end up falling apart once again at the G20 summit, the upside could face numerous headwinds. For as long as the Federal Reserve adopts a ‘patient’ stance and speculation lingers over a potential rate cut, the Dollar continues to run on borrowed time.

It is widely known that a candle flickers most violently just before burning out, could this be the story of the Dollar this year? Time will tell.

Focusing on the technical picture, the Dollar Index is pushing higher on the daily charts with prices trading around 97.30 as of writing. A solid daily close above this point may elevate prices towards 97.50 and 97.90 in the near term.

USDJPY rebounds towards 110.00 

The improving market mood reduced appetite for safe-haven assets like the Japanese Yen. An appreciating Dollar compounded to the Yen’s woes with the USDJPY trading around 109.677 as of writing. Price action suggests that the USDJPY may challenge 110.00 in the short to medium term. A solid breakout above this point is likely to open the gates towards 110.70.

Commodity spotlight – Gold 

Gold retreated from a month peak above $1300 today as renewed optimism over US-China trade developments sent investors back to global equities and riskier assets. Regardless of recent losses, the precious metal remains bullish on the daily timeframe above $1280. For as long as bulls are able to keep prices above this key support level, Gold has the potential to retest $1300 and beyond.


Related

Gold's sudden glow in a falling market
Gold's sudden glow in a falling market

Gold's ability to resist the general downtrend speaks to investor confidence that global central bank policies will remain soft enough to avoid triggering a global downward asset sell-off spiral...

21 Sep 2021

Forex and Cryptocurrency Forecast for September 20-24, 2021
Forex and Cryptocurrency Forecast for September 20-24, 2021

The dollar continues to strengthen, and the EUR/USD pair moves south. Starting on Monday September 13 at 1.1810, it ends the five-day run at 1.1730. The movement...

20 Sep 2021

Gold and Silver looking into the abyss
Gold and Silver looking into the abyss

Strong US data revived bets on an imminent QE rollback from the Fed, supporting the dollar and causing bond yields to rise. The news triggered a more than 2% plunge in gold prices...

17 Sep 2021

Stocks pick up some bid after textbook SP 500 bounce
Stocks pick up some bid after textbook SP 500 bounce

European stock markets were modestly higher on Thursday after a rebound in the US and another dip for Asian equities overnight. Hong Kong down 1.7%...

16 Sep 2021

Stock Futures Trade Lower, Investors Worry About Fed Tapering
Stock Futures Trade Lower, Investors Worry About Fed Tapering

US and European futures are trading lower today, following a retracement in US indices. The Dow Jones Industrial Average fell nearly 290 points, wiping out gains...

15 Sep 2021

Futures in the United States and Europe are up today
Futures in the United States and Europe are up today

Futures in the United States and Europe are up today after the Dow managed to gain nearly 260 points and break its five-day losing streak. Although investors...

14 Sep 2021


Editors' Picks

OctaFX information and reviews
OctaFX
86%
HotForex information and reviews
HotForex
85%
XM information and reviews
XM
80%
FXCM information and reviews
FXCM
79%
Vantage FX information and reviews
Vantage FX
78%
Moneta Markets information and reviews
Moneta Markets
77%

© 2006-2021 Forex-Ratings.com

The usage of this website constitutes acceptance of the following legal information.
Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website (reviews, brokers' news, comments, analysis, quotes, forecasts or other information materials provided by Forex Ratings, as well as information provided by the partners), including graphical information about the forex companies, brokers and dealing desks, is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Forex Ratings shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about the forex companies. The entire responsibility for the contents rests with the commentators. Reprint of the materials is available only with the permission of the editorial staff.
We use cookies to improve your experience and to make your stay with us more comfortable. By using Forex-Ratings.com website you agree to the cookies policy.