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European Open: EUR/USD stalls at resistance ahead of US inflation
EUR/USD has rallied as part of a 3-wave countertrend move, but with key inflation from the US on tap we’re watching prices around a key resistance cluster.
European Open: Futures point higher, FTSE prints reversal at support
The FTSE 100 has produced a bullish hammer at the support level of a multi-month range, and futures point to a positive open for the index.
Gold falls below $1650 as US Dollar soars
Recession fears are causing both GBP/USD and EUR/USD to move lower. As a result, the US Dollar is moving higher. This leaves traders nervous to buy the dip in Gold as it moves to its lowest level since April 2020.
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Gold wrap: Spot gold breaks key level (yet gold futures hesitate)
Spot gold prices crashed through the 2021 low and the backdrop assumes it could move lower still. Yet over the near-term we’ll watch gold futures for directional clues.
Is the South African Rand pointing to a new low in Gold?
The South African Rand and Gold have a strong positive correlation. Therefore, when one of these assets moves in one direction, the other asset is likely to follow in the same direction.
Risk of higher rate hikes send Gold lower; XAU/USD
If the Fed does hike rates and is hawkish at its next meeting, will Gold finally break through 1670, which it has tested numerous times?
Gold wrap: Can the US dollar give gold bugs a break?
With the US dollar index stalling below key resistance and a market-based measure of inflation expectations rising, we’re on the lookout for a countertrend rally on gold.
Multi-decade highs in DXY continues to push Gold lower
The two assets currently share a correlation coefficient of -0.96, a very strong negative correlation. Therefore, if the DXY continues to move higher, one could suspect that XAU/USD will be moving lower!
Volatility subsides in Asia, Gold plunges through $1800
Volatility seen across European markets have yet to make their way to Asia. Yet gold’s notable crash through 1800 is yet to tempt any meaningful bids.
Gold Wrap: Gold nears a 1-month high ahead of NFP
Soft US data and a weaker US dollar has helped gold rise against the US dollar ahead of today’s NFP report.
Gold continues selloff as China manufacturing data worsens
Until confidence returns that prices from China will move higher, Gold may begin trading in a range.
US CPI Preview: Will inflation reach 8%?
February’s CPI print is expected to be strong. The risk is that it comes in weaker.
Appetite for risk perks up as US and Russian officials agree to meet
According to reports, a meeting between US Secretary of State Blinken and Russian Foreign Minister Lavrov has been agreed for “late next week”.
Asian Open: Safe-havens thrive during risk-off trade, gold taps 1900
The alleged ‘trigger’ from Ukraine which sparked the initial sell-off in the late-Asian session continued to weigh on sentiment overnight, which saw gold rise to an 8-month high.
Gold higher on Russia/Ukraine geopolitical uncertainty
Markets strongly dislike uncertainty and therefore, Gold has moved higher. However, that can all change when the next headline hits the wires.
European Open: Markets steady ahead of FOMC, calm before the storm?
Expectations are for the fed to announce a faster speed of taper, so perhaps the more volatile reaction could be if they underwhelm relative to expectations.
Gold: Inflation hedge or Inflation expectations hedge?
The next direction in Gold will depend on the Omicron variant and market expectations of how the virus may change the Fed’s thinking at the next meeting
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Asian Open: Equities rise – cautious optimism or dead cat bounce?
Wall Street’s first full-day back of trade saw equity markets recoup some of last week’s losses, but that’s not to say this will simply become a dead-cat bounce.
How to use the Gold USD correlation to trade fx
Since the start of the year, the correlation between Gold and the US Dollar has been negative a majority of the time