Gold prices rallied decently yesterday, with the bullion broke above the 100-DMA, which acts as a support level around $1,297 on Tuesday as the bullish momentum is waning. The prices extended gains to one-month highs above $1,300 but failed to confirm a bullish breakthrough and started to retreat. The bullion is closely following investor sentiment in the...
After a brief recovery on Friday, USDJPY resumed the downside move at the start of a new trading week as Asian markets suffered early week losses. Late last week, the pair dipped to early-February lows marginally below the 109.50 area and remains in the lower part of the trading range, threatening the lows. Trump’s aggressive rhetoric towards China spooked...
Crude oil prices saw a directional trade yesterday. Brent remains highly volatile these days as traders are nervously monitoring the news on the US-China trade talks. On Friday, the futures are making further bullish attempts above $71 but still struggle to overcome this level as uncertainty persists. Overnight, US has hiked tariffs on $200 billion of Chinese...
Against the backdrop of widespread risk aversion that drives global markets lower this week, USDJPY has aggressively weakened farther below the 110.00 handle to fresh three-month lows around 109.60 on Thursday. Yesterday, Trump further toughened his stance toward China, threatening to prolong his trade war with Beijing, which signaled that it was prepared to...
Gold prices are rising this week as concerns over the US-China trade relations fueled safe-haven demand in the global markets. On Wednesday, the bullion extended gains to mid-April highs marginally below the $1,290 handle and could make further bullish attempts if trade tensions continue to rise. US-China trade talks will resume in Washington tomorrow. After...
Brent crude saw a very volatile trading on Monday with markets were digesting the unexpected US-China trade war escalation after Trump threatened to tighten tariffs on Chinese exports. The announcement triggered a massive sell-off in the global markets, including oil. Investor sentiment has stabilized since then but some caution still prevails, which caps the...
The USDJPY pair dropped dramatically on Monday after a plunge late last week, witnesses amid a widespread dollar selling following mixed labor market data from the US. The prices extended losses to late-March lows around 110.30 earlier in the day and has settled marginally below 112.00 since then. The latest plunge in the pair was due to a fresh wave of...
Extending the post-FOMC retracement from nearly two-week highs, EURUSD struggles to regain the upside momentum for a third day in a row on Friday. The pair failed to confirm a break above 1.12 and retreated to the 1.1150 area which is under threat now. Interestingly, the euro remains under pressure despite better-than-expected European inflation data....
Crude oil prices managed to strike a third day of gains yesterday but failed to keep the upside momentum and turned lower today as traders are digesting the latest report from the US. According to the EIA data, US crude stockpiles last week jumped by nearly 10 million barrels to 470.6 million barrels, to their highest since September 2017. Meanwhile,...
Despite a widespread dollar weakness gold prices are struggling to regain a sustainable bullish impetus on Wednesday after a modest recovery yesterday. The bullion failed to break above the $1,286 intermediate resistance that is standing on the way to $1,290 and has settled above $1,280 during the latest trading. It looks like the dollar relationship has...
Crude oil prices are making further recovery attempts on Tuesday, after a steep decline late last week. Brent has regained the $71 figure and now targets the $72 barrier but it looks like the market lacks the upside momentum despite the prevailing bullish bias. The mixed dynamics in crude prices is due to emerging concerns over OPEC production increase which...
The rebound in gold prices accelerated on Friday as Treasury yields and the dollar fell on US GDP data. The precious metal saw the largest daily gain in nearly two months and registered a mid-April high above $1,288 after three days of gains. The headline GDP number was really good, with the US economy unexpectedly grew 3.2% versus 2.3% expected. But the...
After a false technical break above the 1.12 handle, the dollar came under pressure against the Japanese yen on Thursday and registered decent intraday losses. Today, the pair is making some recovery attempts but the impetus looks unconvincing and too timid, at least so far. Some selling pressure on the yen came from the economic front. According to the...
After a short-term pause and failed corrective attempts on Wednesday, Brent crude resumed the rally today, with prices refreshed early-November highs at $74.55. The market continues to derive support from the “Iranian factor” after the United States said early this week it would end all exemptions for sanctions against the Middle Eastern country. The EIA...
EURUSD slipped decently yesterday and challenged the 1.12 support for the first time in three weeks. It was mainly on rising dollar amid waning concerns over the state of the US economy after stronger-than-expected home sales data. On Wednesday, the common currency remains under pressure and continues to challenge the 1.12 area. Fresh euro zone data added to...
Gold prices extend losses for a third week in a row. Last week, the precious metal failed to hold above the 100-DMA after a break below the $1,300 handle and remains under the selling pressure since then. As a result, the prices are oscillating around 2019 lows, threatening the $1,270 figure. The metal failed to derive support from the news that the US will...
After four week of gains in a row, crude oil prices spiked on Monday, with Brent registered fresh November highs at $73.65. Since the early rally, prices have settled around the $73 handle and remain elevated as traders are digesting news from the US. The latest surge was fueled by reports that the US is set to end sanction waivers on the eight countries...
USDJPY flat on Friday and little changed on the weekly charts as trading activity is muted on Good Friday/Easter holiday. The pair made some bullish attempts above the 112.00 handle earlier this week but failed to show a sustained momentum amid the unstable risk sentiment. The yen ignored better-than expected Japanese CPI figures. March national consumer...