XE Market Analysis: North America – Sep 16, 2015
The dollar has traded mixed, gaining against an underperforming euro, rising versus sterling while posting modest gains versus the yen, which ebbed against most currencies amid a backdrop of rallying stock markets in Asia and Europe. Chinese stocks reb…
Gold Volatility Ahead Of The FOMC
Gold Volatility Ahead Of The FOMC $GLD Gold prices remain weak ahead of the much anticipated Federal Open Market Committee (FOMC) decision Thursday, but one analyst says get ready for the Fed to pull the trigger and gold action to resume. The US central bank may be ready to move on rate hikes and […]
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XE Market Analysis: Europe – Sep 16, 2015
Major dollar pairings have been holding tight ranges, and while equity markets in Asia have followed yesterday’s gains on Wall Street and in Europe, volumes have been low with investors hunkered down ahead of what will be a finely balanced decision by …
XE Market Analysis: Asia – Sep 15, 2015
The dollar rallied broadly in N.Y. on Tuesday, aided by retail sales and production data, which were good enough to keep a Fed rate hike on the table for Thursday. In addition, stocks rallied, and yields moved higher, providing a safe environment for d…
China’s Market “Meltdown” Really Isn’t that Big A Technical Deal
I’m a big fan of analyzing market data from several different time frames, which helps to remove the “signal from the noise.” Using long-term data for China shows an incredibly average equity market:
Above is a five-year, weekly chart of the Shanghai market. It shows three clear price technical developments:
XE Market Analysis: North America – Sep 15, 2015
The yen was the star performer as capital sought havens amid another bout of China-led turmoil in stock markets. The Japanese currency rallied over 1% from its Tokyo low against the dollar, which saw USD-JPY dive to 119.40, subsequently settling aroun…
Tuesday’s Technical Analysis For: Spot Gold (GLD)
Tuesday’s Technical Analysis For: Spot Gold (GLD) $GLD Spot Gold closed higher Monday. The high range close set the stage for a steady to higher open Tuesday on COMEX. Stochastics and the RSI are oversold but remain Neutral to Bearish indicating that sideways to lower prices are possible near term. If Spot Gold extends its […]
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XE Market Analysis: Europe – Sep 15, 2015
The AUD came under pressure as the RBA minutes to the Sep-1 meeting took stock of “below average” economic growth while highlighting increased downward risks to the outlook from overseas developments. AUD-USD, which had extended its recent rebound to a…
Gold: sideways action continues
FXStreet (Mumbai) – Gold continues to trade in the sideways manner in the early European session as investors prefer to stay on the sidelines ahead of the Thursday’s FOMC rate decision.
US data could trigger minor moves
The US advance retail sales figure due for release later today could trigger minor moves in the metal. Retail sales for August is seen rising 0.3%, compared to a 0.6% rise in July. The data would be followed by monthly industrial production and regional manufacturing index figures.
At the moment, the fed funds futures indicate about 30% probability of a rate hike in September. The data today is could trigger minor changes in rate hike probability and affect the metal prices. However, big moves may not be witnessed as investors await Thursday’s FOMC meeting.
Gold Technical Levels
The metal currently trades around USD 1107/Oz levels. The immediate resistance is located at 1113.50 (Sep 10 high), above which gains could be extended to 1123.50 (Sep 9 high). On the other side, support is located at 1102.10 (Sep 9 low) and 1098.20 (Sep 11 low).
Gold continues to trade in the sideways manner in the early European session as investors prefer to stay on the sidelines ahead of the Thursday’s FOMC rate decision.
(Market News Provided by FXstreet)
XE Market Analysis: Asia – Sep 14, 2015
The dollar was mostly lower in what was a relatively quiet Monday session in N.Y.. Major dollar pairings were range bound overall, as a lack of data, and proximity to Thursday’s FOMC announcement kept the market in check. Wall Street lost ground follow…