Carlo Alberto De Casa, Chief Analyst for ActivTrades, joined Nick Batsford and Zak Mir on the Tip TV Finance Show to discuss future outlooks on precious metals and forex.
Precious metals: Platinum and Palladium affected by VW, Gold just over 1100
De Casa outlined how Platinum is in a bullish trend close to $900 per ounce, but the recent Volkswagen emission scandal has resulted in panic selling of Platinum because of its use as a catalyst for diesel cars. He concluded that it is difficult to judge the bottom.
He moved on to Palladium, which he outlined that it reached the peak of $900 per ounce a couple of years back. De Casa commented that it is up 20% recently as it is less involved with cars and thus less effected by VW.
When concerning Gold, De Casa highlighted the good news of Yellen postponing a rate rise, possibly to 2016. He noted the recent rebound from 1060 to 1160, and how gold is currently just over 1000, but for the future he believed gold is in a long term bullish trend.
Forex Forecast: EUR/USD in a trading range, EUR/GBP awaiting clear direction
De Casa noted that the EURUSD is in a clear trend, heading from around 140 to close to parity. But for now, the pair is trading sideways within a range, as it attempts to find a new equilibrium. Mir added that Yellen will raise interest rates in the US at some stage, and De Casa responded that the effect on EURUSD is dependent on whether this as well as Draghi QE in Europe has been already accounted for in the price.
In terms of the GBPUSD, he briefly commented on the important area around 151 which at the moment the pair seems to be approaching.
He finished with the EURGBP, and outlined that it is awaiting a clear signal for direction, and despite it appearing to show a bullish set up, both De Casa and Mir remain unsure. Mir added that it is difficult to see how the GBP can win against the EUR.
We are not authorised by the Financial Conduct Authority of England and Wales. The information and/or data on this website is provided by us and any data providers which may be used by us for your general information and use only and is not intended for trading purposes or to address your particular financial or other requirements. In particular, the information and/or data on the website:
(1) does not constitute any form of advice (financial, investment, tax, medical, legal, spread -betting or otherwise); and (2) does not constitute any inducement, invitation or recommendation relating to any of the products listed or referred to; and (3) is not intended to be relied upon by you in making (or refraining to make) any specific investment, placing any bet or making any other decision; and (4) has not been issued or approved by Tip TV for the purposes of section 21 of the Financial Services and Markets Act 2000 (as amended from time to time).
Opinions expressed by speakers in the videos, writers of the blogs are only opinions and not expert advice. These opinions do not necessarily agree with those held by Tip TV, its directors, agents or employees who disclaim any intent to make betting, securities or securities markets recommendations. The value of investments and the income derived from them may fall as well as rise. APPROPRIATE EXPERT INDEPENDENT ADVICE SHOULD BE OBTAINED BEFORE MAKING ANY INVESTMENT, PLACING ANY BET OR MAKING ANY OTHER DECISIONS.
Recommended Content
Editors’ Picks
EUR/USD rises toward 1.0700 after Germany and EU PMI data
EUR/USD gains traction and rises toward 1.0700 in the European session on Monday. HCOB Composite PMI data from Germany and the Eurozone came in better than expected, providing a boost to the Euro. Focus shifts US PMI readings.
GBP/USD holds above 1.2350 after UK PMIs
GBP/USD clings to modest daily gains above 1.2350 in the European session on Tuesday. The data from the UK showed that the private sector continued to grow at an accelerating pace in April, helping Pound Sterling gather strength.
Gold price flirts with $2,300 amid receding safe-haven demand, reduced Fed rate cut bets
Gold price (XAU/USD) remains under heavy selling pressure for the second straight day on Tuesday and languishes near its lowest level in over two weeks, around the $2,300 mark heading into the European session.
Here’s why Ondo price hit new ATH amid bearish market outlook Premium
Ondo price shows no signs of slowing down after setting up an all-time high (ATH) at $1.05 on March 31. This development is likely to be followed by a correction and ATH but not necessarily in that order.
US S&P Global PMIs Preview: Economic expansion set to keep momentum in April
S&P Global Manufacturing PMI and Services PMI are both expected to come in at 52 in April’s flash estimate, highlighting an ongoing expansion in the private sector’s economic activity.