Gold Gold price cratered lower this week as the US Dollar enjoyed another week of gains as US Treasury Yield’s rose. The rally in USD came in response to the latest data showing that US retails sales rose for the second consecutive month over April adding further weight to the strength of the economic recovery in the US. Alongside the strong re...
Crude oil prices rallied last week to hit a three and a half year high after the U.S. President Donald Trump announced that Washington was pulling out of the 2015 Iran nuclear deal on Tuesday. Speaking at a brief press conference, Trump said that the U.S. administration will also be imposing more strict economic sanctions on the country. It g...
Technical Monthly: Potential reverse head & shoulders as prices trade within the monthly ichimoku cloud. $1300 continues to act as strong support. A clear break of $1370 is required to confirm the formation. Weekly: A possible AB=CD formation has a measured move target of $1450. Evidence of a rectangle formation with support at $1...
Gold The yellow metal had a much quieter week this week, and over the course of a very constrained trading session, remained broadly unchanged after plumbing initial lows earlier in the week. The main driver behind the weakness in gold was continued USD strength as the USD short covering continued over the week. With US data strengthening again...
Crude oil prices showed no signs of losing momentum as price of the international Brent crude oil hit highs of $75 a barrel. The gains, which mark the highest high in nearly three and a half years, came about after mounting concerns that the U.S. administration could hit Iran with sanctions. Reports suggest that the U.S. administration will d...
Gold The price of the yellow metal weakened over the course of this week’s trading as attention remained with the rampant US Dollar recovery that saw further gains this week. The main focus this week which, as expected, saw the central bank keeping policy unchanged at current levels. After raising rates last time around traders were keen to re...
In this May 2018 FX markets monthly outlook, The U.S. dollar emerged from a spell of selling as the greenback managed to emerge as one of the top currencies with gains last month in April. The USD was only second to the Canadian dollar which advanced 0.41% and was the top performing currency for the month in March. The rebound in the U.S. dol...
Technical Monthly: A reverse head & shoulders formation has been confirmed and price action is strong. The measured move target is near $85.00. The 50% fib retracement is currently capping the upward move. Weekly: Prices remain contained within a bullish channel formation. There is no sign of the move higher slowing altho...
Summary: IMF maintains global GDP to advance 3.9% this year Trade tensions expected to derail global economic recovery S. GDP expected to advance 2.9% in 2018 Japan GDP expected to advance 1.2% in 2018 UK GDP expected to advance 1.6% in 2018 Eurozone GDP to advance 2.4% in 2018 The International Monetary Fund released its ...
Crude oil prices were in for a bumpy ride last week, as surprising comments from Saudi Arabia helped to keep the bullish momentum going. Oil prices were already surging strongly earlier in the week following tensions surrounding Syria and the attempted missile strikes against Riyadh. While the markets at large brushed aside the weekend airstr...
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