Or is there too much momentum?
It's been a wild ride for gold this past few weeks and the latest moves highlight just how much uncertainty there is in the markets right now.
The yellow metal saw incredible support earlier this month as inflation indicators flashed and central banks pushed back against accelerating their policy response.
The transitory claim...
The British pound is in negative territory in the Friday session. GBP/USD is currently trading at 1.3450, down 0.35% on the day.
UK retail sales for October surprised the markets, as the gain of 0.8% m/m was the first gain in five months. Clearly good news, but the improvement could well be due to early Christmas shopping rather than a change in the mindset of...
The Japanese yen has edged higher on Friday. USD/JPY is trading at 113.93, down 0.28% on the day.
Japan's CPI edged up by 0.1% y/y in October, identical to the September gain. Higher energy costs were behind the increase, which would have been higher if not for a sharp drop in mobile phone fees. These inflation figures are certainly much more subdued than what...
The euro has been grinding lower against the pound for more than a year now, with much of 2021 spent within a shallow descending channel.
But with the two central banks likely to see some divergence in monetary policy over the next 12-18 months, could we finally see the pair break out of this long-standing trend?
The BoE bottled the rate hike at its November...
It's been a wild ride in GBPJPY over the last month or so and it may only be about to take off.
From long-term consolidation to finally breaking higher - and in impressive fashion - to a sharp reversal after the BoE bottled raising rates. It's been quite the month and there's still plenty of action to come.
The pair now finds itself between two very interesting...
The UK100 has been on a good run in recent weeks, in keeping with the broader trend in stock markets that have reacted very positively to a strong third-quarter earnings season.
This followed an adjustment prior to the start of the season as investors started pricing in earlier and earlier rate hikes, not to mention more of them over the next couple of years, in...
The Australian dollar has started the week in positive territory, extending the gains seen on Friday. AUD/USD is currently trading at 0.7364, up 0.47% on the day.
It's a light calendar in Australia this week, with no major economic releases. The highlight from Down Under will be the RBA minutes from the November meeting, which will be released on Tuesday. The...
After three losing sessions, the Australian dollar has steadied. AUD/USD is currently trading at 0.7305, up 0.17% on the day. In the Asian session, the Aussie dropped to 0.7277, its lowest level in a month.
The Australian dollar didn't get any help from the October employment report, which was showed total employment declining and the unemployment rate rising....
The dollar rallied strongly on Wednesday after data showed inflation rose to a 31-year high in the US.
Coming on the back of Friday's fantastic jobs report and the 20-year high in the quarterly employment cost index the week before, this doesn't bode well for a Fed intent on being patient on raising interest rates.
The central bank has repeatedly stated its...
It's been a wild ride for gold the last couple of weeks, as markets have done their best to navigate the poorly communicated policy shifts at various central banks.
From pricing in plenty of rate hikes to paring back expectations, gold has previously broken below the ascending channel and set itself up for a potentially deeper dive, before now soaring higher to...
The Australian dollar is in positive territory at the start of the week and has punched above the 74 level. AUD/USD is currently trading at 0.7424, up 0.34% on the day.
The RBA was in the headlines for much of the week, and investors were all ears as the RBA released its quarterly policy statement on Friday. The bank sounded guardedly optimistic about the...
The British pound has extended its losses in the Friday session. GBP/USD is currently trading at 1.3445, down 0.41% on the day.
It's been a miserable week for the British pound, which is down 1.76% this week. The driver behind the pound's slide was the BoE meeting, as policy makers caught the markets off guard when they opted to maintain the cash rate at 0.10%....
The pound plunged on Thursday after the Bank of England left interest rates unchanged and gave the impression future hikes won't be as aggressive as markets had anticipated.
For weeks, the pound has performed well and traders priced in one hike this year and at least a few next. But it seems they may have to reconsider and that started today.
The pound has...
The euro is down considerably in Thursday trade. Currently, EUR/USD is trading at 1.1550, down 0.53%. Earlier in the day, the euro fell to 1.1528, its lowest level since October 13th.
There were no surprises from the Federal Reserve meeting, as policy makers trimmed the QE programme by 15 billion dollars/month. The move was nonetheless highly significant, as it...
Price action at the back end of last week in EURUSD was chaotic to say the least.
From Christine Lagarde putting across a dovish case for the central bank which the market completely disregarded to the dollar soaring on Friday on the back of a surprise spike in the employment cost index - an inflationary signal - we certainly saw plenty of action that we now have...
Gold plummeted on Friday as the dollar soared and US yields rose, particularly at the short end of the curve.
The dollar has pared some of those gains at the start of this week which has allowed the yellow metal to recoup some of its losses. But is the damage already done? Is golds dream of recapturing and holding onto $1,800 dashed?
It's not looking good for...
The pound has made some incredible moves against the yen in recent weeks, following the breakout from long term consolidation through the top of the descending triangle, after which it surged to more than five-year highs.
The rally in the pound has been driven by rapidly shifting interest rate expectations, with markets now pricing in four or five rate hikes by...
Bitcoin is pushing higher after coming under pressure in the middle of the week.
A break below $60,000 could have spelt trouble for the cryptocurrency, and still could, but it's been quick to rebound back above this level and crypto bulls may be enthused.
The correction in bitcoin saw it fall more than 13% from its highs, a healthy pullback in most instruments...
