XAU/USD
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What’s next for the highly correlated assets of Gold and DXY?
As long as this correlation holds, traders can get clues as to where Gold may be headed based on the direction of the DXY.
European Open: Can gold snap its 4-day losing streak?
Gold has retraced for four days yet found support at previous cycle highs, so unless speaking Fed members aren’t overly hawkish, we could see gold bounce form support.
Gold shines bright amid the US Dollar and crypto sell off
Will Gold continue to move higher? It may depend on the selloff in the US Dollar.
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European Open: GBP spikes on reports the BOE may extend bond purchases
The BOE have now done two U-turns within 24hrs, by first cancelling their bond buying programme but then signalling behind closed door they may extend it.
European Open: Bullish bets for gold futures are on the rise
After identifying a potential sentiment extreme a couple of weeks ago, we now note that bullish bets for the December gold futures contract have spiked.
European Open: Bullish bets for gold futures are on the rise
After identifying a potential sentiment extreme a couple of weeks ago, we now note that bullish bets for the December gold futures contract have spiked.
The RBNZ hiked by 50bp – but a 75bp hike was considered
The RBNZ hiked for an eight consecutive meeting to take interest rates to 3.5%.
The RBNZ hiked by 50bp – but a 75bp hike was considered
The RBNZ hiked for an eight consecutive meeting to take interest rates to 3.5%.
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.
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.
Gold Wrap: 1700 gives way, but key support awaits
Momentum is clearly pointing lower for gold, but we’re keeping an eye on the monthly charts as we head into August due to a potential level of support.
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💥 Week Ahead: OPEC+, RBA, BOC, and China CPI #OOTT #OPEC #RBA #BOC #EURUSD https://t.co/yysnYHOQQP https://t.co/XcSr0AbWgb
9:32 PM − 02 Dec 2022
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!
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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.