Investing.com - The British pound hit 31-month highs against the euro on Monday and hit seven-month highs against the U.S. dollar amid growing confidence about a Conservative Party victory in Thursday’s U.K. elections, which would end political paralysis on Brexit.
With stats on the lighter side, we can expect geopolitics to be in focus. Trade and the UK General Election are likely to be the talking points…
Investing.com - Gold prices stayed near flat on Monday in Asia as traders awaited the U.S. Federal Reserve meeting later this week and updates on the Sino-U.S. trade developments.
Investing.com - The U.S. dollar and the euro were little changed on Monday in Asia as traders await central bank meetings due later this week.
It’s election week… The Tories remain ahead in the polls and the predictions, with the odds also supporting the Pound. Could it be plain sailing?
It’s a big week ahead, with the ECB, the FED, trade, and the UK General Election in focus. Expect the stats to play second fiddle in the week.
Investing.com - The Federal Reserve and the European Central Bank are set to hold their final monetary policy meetings of the year this week, with investors staying focused on trade ahead of the looming Dec. 15 deadline for fresh U.S. tariffs on Chinese goods. Market watchers will also be keenly anticipating the results of the U.K. general election, which will decide the fate of Brexit. Here’s what you need to know to start your week.
Risk factors were primarily responsible for the movement in the safe-haven Japanese Yen, while the commodity-linked Australian and New Zealand Dollars were underpinned by sharply higher crude oil prices. The Aussie and Kiwi were also supported by a surprise improvement in Chinese manufacturing activity.
On Tuesday, I explained how gold has been forming interim highs in the opening days of a new month; prices peaked the next day at $1489.90. The final breakdown is underway, and our work supports a bottom by mid-December.
It may seem as if the U.K. has been mired in political turmoil forever, but the deadlock over Brexit and the country’s future may just be broken this week when the public goes to polls.
Gold markets initially tried to rally during the week but have turned around to form a very bearish looking candlestick on top of support. It’s obvious that the next couple of weeks are going to determine what happens next in the precious metals markets.
The US dollar fell during the week but did see some positivity on Friday after the stronger than anticipated jobs figure. It makes sense at this point that we continue to see a lot of sideways action, but we are on the verge of some type of break out.
The British pound broke out during the week, breaking above the crucial 1.30 level kicking off a bullish flag. This of course has been helped by a little bit more certainty with the UK elections.
The British pound broke out against the Japanese yen during the week, finally slicing through the resistance barrier that had been keeping it down for quite some time. At this point, it looks as if we are ready to continue going higher as the election looms.
The Euro has shown signs of exhaustion after initially rallying during the week but pulling back yet again. At this point, the 1.10 level is support.
The Australian dollar has broken higher during the trading week, as we continue to see moves to the upside. There is a massive amount of support underneath at the 0.67 level as we have formed a bit of a “double bottom” in that area, and as a result now we have to question whether or not a trend change is about happen.
Gold markets got crushed during the day on Friday as a major “risk on” trade has come into play after a strong job summer. Having said that, we are still above significant support.
The US dollar has recovered against the Japanese yen after initially falling on Friday, due to the stronger than anticipated jobs number. Beyond that, we also have the so-called “golden cross” getting ready to occur.
The British pound has pulled back just a bit on Friday, as the jobs number in the United States was better than anticipated. That being said though, it doesn’t really matter as this pair tends to be focusing on Brexit more than anything else right now.
The British pound pulled back a bit during the trading session on Friday, but then turned around to show signs of strength again. This continues the overall “risk on” trade situation.
The Euro fell during the trading session on Friday, as the US jobs number came out much stronger than anticipated. This sent money flowing towards the US dollar, so this point is very likely that the market should continue to favor the downtrend.
The Australian dollar had rallied a bit during the trading session on Friday, and as the jobs never came out of America much stronger than anticipated, there was more of a “risk on” sentiment out there.