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POPULAR NEWS
Gold's Tops Hold, Next stop $1300

The equity markets are closed today; however, the futures markets are open. Equity futures are higher which would have led to the seventh day in a row of gains. Just three weeks ago, equities looked like they were going to collapse. Now they look like they may never go down again. Will the œrip your face off rally continue or will Darth Vader return? Gold has followed a very similar pattern as equities: making lows and then rallying. Gold has reached the peak of its move and is now...

Gold Futures Dip as Dollar Steadies

Gold futures fell modestly Monday, giving up part of last week™s gain, as a steadier dollar weighed on the metal, and as the Presidents Day holiday in the U.S. gave many traders the session off. April gold lost $5.40, or 0.4%, to $1,350.80 an ounce in electronic trading, while March silver shed a nickel, or 0.3%, to $16.66 an ounce. The drop came as the dollar was steady to slightly higher against major rivals. A weaker buck can boost commodities priced in dollars, because it makes them...

RBA minutes: wage growth remained subdued

Minutes of the monetary policy meeting of the Reserve Bank of Australia board were released, and as widely expected, this was a non-market event considering how much has already been said from various officials over the last couple of week's and since the previous RBA meeting. Key statements as follows: Low rates helping reduce unemployment, lift inflation. Further progress on inflation likely to be only gradual. RBA repeats rising a$ would impede pick up in economic growth, inflation. A$...

Gold Marks Worst Daily Drop In About a 1 1/2 Years As Dollar Gains Steam

Gold prices finished sharply lower on Tuesday, marking the sharpest daily decline in more than a year, against a backdrop of rising gold and stabilizing equities. April gold ended off $25.10, or 1.9%, at $1,331.20 an ounce, representing its steepest single-session pullback since a $33.90 drop, or 2.9%, on Dec. 15. 2016, FactSet data show. The tumble for precious metals comes as many Asian investors, big buyers in the commodity, continue to observe Lunar New Year. weighing on buying...

Asian markets continue to push higher

Asian shares started Monday higher as confidence in equities continued to return, with some markets in the region reopening after the Lunar New Year holiday. South Korea™s Kospi was up 1.2%, Singapore™s benchmark gained 0.5% and Japan™s Nikkei Stock Average rose 1.1%, helped by some yen softening after last week™s sharp rises. Shares in Australia also rose while stocks in New Zealand underperformed. Markets in China, Hong Kong and Taiwan remain closed for the holiday. U.S. markets...

USD/JPY - Three-day rally stalls at 50-DMA in Asia, eyes US CPI
Thursday, 14 September 2017 08:29 WIB | CURRENCIES |USD/JPY,

The three-day rally in the USD/JPY spot has stalled in Asia, with the pair failing to take out the 50-DMA hurdle of 110.55 levels.

Reports that the US tax reform guidance is likely to be released before the end of September pushed the spot to a high of 110.69 yesterday, although the end of the day close was below the 50-DMA.

At press time, the currency pair is trading at 110.47 levels.  The failure to take out the 50-DMA could be attributed to marginal weakness in the 10-year Treasury yield. Moreover, the yield has risen from 2.06% on Friday to a high of 2.20% yesterday. The yield currently trades at 2.185%.

Eyes US CPI

The core consumer price index is seen rising 0.2% m/m in August. Kathy Lien from BK Asset Management says, " the tax reform talk helped investors shrug off softer than expected producer price report that showed inflation growth rising less than expected in the month of August.  Tomorrow's consumer price report should be stronger with Hurricane Harvey driving up gas prices last month."

The further steepening of the yield curve could be seen if the US CPI number betters estimates, in which case the 50-DMA hurdle could be breached in a convincing manner.

USD/JPY Technical Outlook

FXStreet Chief Analyst Valeria Bednarik writes-

"The pair struggled after an early top at 110.28, retreating from the level to find strong buying interest around the 110.00 threshold, forcing bears to pull back, resulting later in a bullish breakout that sent the pair up to 110.68. The pair filled the gap left in the past week, but now has this week's one at 107.62 yet to be filled, something quite unlikely for the short term with the pair advancing beyond 110.00. The Japanese macroeconomic calendar has little to offer today, but July industrial production figures, with investors clearly focusing on US inflation. Technically, the pair retains its bullish stance, despite overbought as in the 4 hours chart, the price has continued advancing above its 100 and 200 SMAs, now directionless, whilst technical indicators have stabilized within overbought territory."

 

Source: FXstreet

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POPULAR NEWS
Gold's Tops Hold, Next stop $1300

The equity markets are closed today; however, the futures markets are open. Equity futures are higher which would have led to the seventh day in a row of gains. Just three weeks ago, equities looked like they were going to collapse. Now they look like they may never go down again. Will the œrip your face off rally continue or will Darth Vader return? Gold has followed a very similar pattern as equities: making lows and then rallying. Gold has reached the peak of its move and is now...

Gold Futures Dip as Dollar Steadies

Gold futures fell modestly Monday, giving up part of last week™s gain, as a steadier dollar weighed on the metal, and as the Presidents Day holiday in the U.S. gave many traders the session off. April gold lost $5.40, or 0.4%, to $1,350.80 an ounce in electronic trading, while March silver shed a nickel, or 0.3%, to $16.66 an ounce. The drop came as the dollar was steady to slightly higher against major rivals. A weaker buck can boost commodities priced in dollars, because it makes them...

RBA minutes: wage growth remained subdued

Minutes of the monetary policy meeting of the Reserve Bank of Australia board were released, and as widely expected, this was a non-market event considering how much has already been said from various officials over the last couple of week's and since the previous RBA meeting. Key statements as follows: Low rates helping reduce unemployment, lift inflation. Further progress on inflation likely to be only gradual. RBA repeats rising a$ would impede pick up in economic growth, inflation. A$...

Gold Marks Worst Daily Drop In About a 1 1/2 Years As Dollar Gains Steam

Gold prices finished sharply lower on Tuesday, marking the sharpest daily decline in more than a year, against a backdrop of rising gold and stabilizing equities. April gold ended off $25.10, or 1.9%, at $1,331.20 an ounce, representing its steepest single-session pullback since a $33.90 drop, or 2.9%, on Dec. 15. 2016, FactSet data show. The tumble for precious metals comes as many Asian investors, big buyers in the commodity, continue to observe Lunar New Year. weighing on buying...

Asian markets continue to push higher

Asian shares started Monday higher as confidence in equities continued to return, with some markets in the region reopening after the Lunar New Year holiday. South Korea™s Kospi was up 1.2%, Singapore™s benchmark gained 0.5% and Japan™s Nikkei Stock Average rose 1.1%, helped by some yen softening after last week™s sharp rises. Shares in Australia also rose while stocks in New Zealand underperformed. Markets in China, Hong Kong and Taiwan remain closed for the holiday. U.S. markets...

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