Daily Archives: May 14, 2018

14May

TODAY’S COMEX GOLD SIGNAL AND DAILY REPORT

14may1

                                                                                      Comex Gold Signal

14may2

14may3

INTERNATIONAL COMEX NEWS

  • Gold prices were roughly unchanged on Friday but looked set to post a first weekly gain in four weeks as dollar weakness continued following a recent bout of softer inflation data. Gold futures for June delivery on the Comex division of the New York Mercantile Exchange fell by $0.80 or 0.06%, to $1,321.40 a troy ounce. Weaker inflation data seen earlier this week continued to drive direction, prompting traders to scale back their expectations for a faster pace of Federal Reserve rate hikes, pressuring both the 10-yield treasury and the dollar, underpinning gold prices.
  • Crude oil prices settled lower on Friday but posted a weekly gain as sentiment remained positive despite signs of an increase in U.S. production as rig counts jumped for the sixth week in a row. On the New York Mercantile Exchange crude futures for June delivery fell 66 cents to settle at $70.70 a barrel, while on London’s Intercontinental Exchange, Brent fell 0.54% to trade at $77.05 a barrel.
  • More destructive lava flows could soon hit Hawaii’s Big Island as the Kilauea volcano erupts, posing a greater threat than oozing magma that has so far destroyed dozens of homes and forced thousands to evacuate, scientists said on Friday. As a lava lake at Kilauea’s summit drains inside the volcano, magma is running underground. It could burst to the surface as large, fast-moving and intensely hot lava flows and produce higher levels of toxic gases, Hawaiian Volcano Observatory scientist-in-charge Tina Neal said.

ECONOMY NEWS

  • Ousted Malaysian Prime Minister Najib Razak said on Saturday that he and his family would respect an immigration department ban on his travel abroad and stay in the country. Najib said earlier on his Facebook (NASDAQ:FB) that he and his family were taking a holiday overseas from Saturday and would return next week. But, moments later, the immigration department said on its official Facebook page that Najib and his wife, Rosmah Mansor, were blacklisted from leaving Malaysia.
  • Malaysian authorities barred ousted Prime Minister Najib Razak and his wife from leaving the country on Saturday, amid reports that the government was reopening investigations into a multi-billion-dollar graft scandal at a state fund he founded. The order by immigration authorities came minutes after Najib said in a Facebook (NASDAQ:FB) post that he and his wife, Rosmah Mansor, were taking a week-long holiday overseas to rest after his thumping defeat in Wednesday’s general election.
  • The new U.S. ambassador to Germany said the row over Washington’s planned imposition of punitive tariffs on European goods would not trigger a trade war, adding that President Donald Trump only wanted “a level playing field”. In an interview with the Funke newspaper group, Richard Grenell insisted that the United States was awaiting proposals on how punitive tariffs could be averted.

14may4

14May
Forex

Epic Research : Forex Market Insight

INTERNATIONAL CURRENCY BUZZ

Forex -Dollar On Track to Snap 4 Week Winning Streak as EUR/USD Gains
Forex -EUR/USD consolidates recovery from 4 month lows
Forex -GBP/USD trims daily gains, holds in weekly range

EUR/USD

The EUR/USD pair is rising on Friday for the second day in a row but it was unable to extend gains during the American session as the US Dollar recovered strength on the back of rising US yields. The euro peaked on Friday at 1.1969, the highest since Monday. The area around 1.1970 capped the upside. EUR/USD is about to end the week, steady  moving  in  a  range  between  1.1930  and  1.1960, marginally  below  the  level it closed last week. EUR/USD recovered  ground  after  falling  on  Wednesday  to  1.1821, the  lowest  since  December.The weekly close far from the lows could signal some consolidation ahead. Some bearish pressure is still seen. The weekly chart is about to form  a doji,  after rebounding at the 20 week  moving  average.Next week,key data from the Euro zone is due, including GDP, NEW survey and CPI. In the US, retail sales on Tuesday area likely to gain attraction.

GBP/USD

The GBP/USD failed  again  to  break  above  1.3600  and  retreated  back  below  1.3550 amid a recovery of the US dollar across the board. Recently dropped to 1.3531 and it was  hovering around 1.3540. The greenback trimmed losses the board during the American  session  and  extended  gains  against  most  of  emerging  market  currencies. US Dollar Index Futures rose from 92.19 to 92.42 supported by a bounce in US yields that turned higher.Regarding data, the US Preliminary Consumer Sentiment Index (University of Michigan) for May came in at 98.8, slightly above  the  98.5  expected  by  market  analysts.  Cable  is  still  modestly  higher  for  the day  but  the  momentum  eased.  It  continues  to  move  sideways  as  it  has  been  the case since last week. GBP/USD continues to move in a consolidation range between 1.3500  and  1.3600.  Today  it  is  headed  toward  the  sixth  daily  close  between  1.3515 and 1.3550.

14

© Copyright 2013, All Rights Reserved, Epic Research Pvt. Ltd.