GOLD As the week draws to an end the scenario for gold has swiftly changed, as the renewed strength of the greenback has seen a drop in the yellow metal to the key level of $1,700. Bullion has now lost almost all gains achieved earlier this week. Moreover, the bullish momentum seen on Wednesday and…
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GOLD The dollar’s decline following the approval of the $1.9 trillion stimulus package and weaker than expected inflation has lifted the gold price and removed some of the recent fears about bullion. The price reaction was remarkable with gold jumping above $1,730 and moving the short-term momentum back into positive territory, a move that has…
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EUROPEAN SHARES European shares resumed their upward trend, despite initially opening down, as investors’ risk appetite remains alive and well. Even if a rotation from growth to “defensive” shares is still taking place, the global market sentiment is still oriented towards riskier assets this week. Indeed, with today’s signature on the $1.9 trillion stimulus package…
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OIL Oil prices are reacting to yesterday’s cold shower. Monday’s decline could yet prove supportive, as it was mostly linked to some profit-taking after a long and probably too quick rally. It is therefore crucial for the price to hold above the low reached earlier this morning, which is now representing a valid support zone.…
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Tomorrow and early Wednesday are likely to be quite active for EURAUD between German trade data and consumer and business confidence in Australia. Apart from these, the general mood in markets might continue moving further toward ‘risk on’ if Chinese and American inflation are perceived as being strong. The ECB’s meeting and press conference on…
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OIL Yesterday’s OPEC meeting did nothing to dent the good mood of investors for oil. On the contrary, the decision to maintain current production restrictions (including cuts in Saudi Arabia) has given further buying impetus to the current bullish rally. WTI has jumped to a new Covid-era record at $65 a barrel, as investors are…
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GOLD Gold is still suffering against the strength of the greenback with the price unable to rebound. Bullion has lost more than $350 from the record reached last summer as investors are betting on a quick economic recovery. Negative sentiment is still dominating in the short-term, while the medium-term trend has also been compromised by the…
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OIL Oil is showing limited volatility with investors are in wait and see mode ahead of the OPEC meeting, which is likely to be a significant market mover for the sector. A reduction of the curbs in production imposed in the last few months could slow down the recent price rally but would probably not…
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GOLD Gold remains in the danger zone with a long row of decreasing lows certifying the temporary low investor interest in bullion. The strength of the greenback is increasing the bearish pressure on gold, an asset traditionally negatively correlated with the Dollar Index. Moreover, the rebound of yields seen last week has been detrimental for…
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OIL Oil is back in the green. As stocks recover from the selloff of the final part of last week, oil benchmarks are also trading positively. Friday’s decline seemed a psychological correction resulting in a temporary “risk off” scenario, as investors became nervous about an unstable bond market. Therefore, the main trend for the barrel…
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