Gold prices reversed after yesterday's plunge immediately after the US Federal Reserve (Fed) decided to keep the standard interest rate unchanged at 5.25% to 5.5%. Both Fed Chairman Jerome Powell and state Fed officials in the US have expressed reluctance to start cutting interest rates until they are more confident that inflation is on track toward goal 2....
The Federal Reserve is expected to announce its monetary policy decision from the April 30-May 1 meeting. It is anticipated that borrowing costs will remain unchanged at 5.25% to 5.50% and forward guidance will stay the same. The focus will be on Fed Chair Powell's press conference for insights into the policy outlook, as there are no new economic projections at...
Gold prices recorded a slight decline after recent losses as traders continued to price in higher longer-term US interest rates ahead of the US Federal Reserve (FED) meeting over the weekend . The yellow metal fell from record highs reached in early April as safe-haven demand weakened in the absence of any escalation between Iran and Israel. This makes gold...
OANDA:XAUUSD ANALYSIS - Now that the risk of a broader conflict in the Middle East has subsided, gold attempts bulls look to a softer dollar to prop up prices - Gold (XAU/USD) attempts to lift off of support at $2320 OANDA:XAUUSD BULLS LOOKS FOR INSPIRATION IN THE DOLLAR AFTER TENSIONS SUBSIDE Implied gold volatility (GVZ) has experienced a notable drop...
After the Federal Reserve kept interest rates unchanged for the sixth time and announced it would slow down the pace of balance sheet shrinkage, gold prices rose sharply above the $2,300/ounce mark and remained above this key price level. , and also achieved the target adjusted increase in publishing the previous issue sent to you. Market news and reviews The...
WTI Crude Oil formed a huge head and shoulders pattern on a daily. With the release of the yesterday's fundamentals, the market dropped and sharply violated its neckline and a solid rising trend line. 2 broken structures compose the expanding supply zone. I will look for shorting from there, anticipating a bearish continuation at least to 77.8 support. ...
OANDA:XAUUSD spot faced strong selling pressure and fell to a one-week low ahead of the Federal Reserve meeting. The Conference Board's consumer confidence index fell for the third straight month in April, falling to 97.0 from a downwardly revised 103.1 in March. Pessimism prevails ahead of the Federal Reserve's monetary policy announcement scheduled for...
Hello hello, My bias is still long. I will link that analysis to this one. So, I am looking for a continuation to the upside. At the moment, everything looks good for a continuation to the upside. The Monthly candle closed above the annotated Monthly SIBI, and a new Monthly BISI was created. What i'm looking now is for price to come into any of those areas, but...
OANDA:XAUUSD market could see more volatility next week on news from the Federal Reserve and is expected to signal that it will not be ready to cut interest rates in June. Although expectations of loosening policy by the US Federal Reserve are fading, gold prices have also increased about 17% since February this year. Gold's strong performance is linked to...
Gold prices recovered losses but remained near $2,320 early Thursday. Fresh weakness in the US Dollar and US Treasury yields allow Gold buyers to breathe a sigh of relief. Gold prices remain vulnerable amid Middle East escalation, waiting for US Q1 GDP data. Gold prices steadied on Wednesday below the key 21-day simple moving average (SMA), then at $2,318,...
The US Dollar Index is entering accumulation and recovering after 2 days of decline, making gold priced in US Dollars less attractive thanks to direct correlation. The near-term appeal of the precious metal remains weak as tensions in the Middle East ease and safe-haven demand weakens. The gold market has been less affected by the escalating conflict in the...
Market attention turns to the Federal Reserve's monetary policy decision on May 1 and upcoming nonfarm payrolls data. Data released last week showed US gross domestic product fell short of target, while the core personal consumption expenditures (PCE) price index, the Fed's preferred inflation measure, stagnated at growth of 2.8% year-on-year for the second...
US GDP data for the first quarter of 2024 was lower than expected, increasing speculation that the Federal Reserve may reduce borrowing costs. However, inflation has risen sharply over the same period, which will delay the Fed's interest rate cuts. The U.S. Bureau of Economic Analysis reported on Thursday that U.S. gross domestic product (GDP) grew 1.6%...
Trading Plan for Thursday, May 2nd, 2024 Market Sentiment: Uncertain, with bulls holding a precarious position at a critical support level. Key Supports Immediate Supports: 5048-50 (major - note that this trendline rises daily), 5032, 5028 (major) Major Supports: 5010 (major), 4968 (major), 4938-42 (major) Key Resistances Near-term Resistance: 5077-82...
After a subdued performance late last week, the EUR/USD bounced back on Monday, challenging overhead resistance at 1.0725. A successful clearance of this technical barrier could pave the way for a move towards 1.0755. Further strength from this point onwards would shift focus to the 1.0800 handle, where the 50-day and 200-day simple moving averages converge. In...
Gold prices (XAU/USD) traded slightly lighter near $2,335 on Monday during the early Asian session. Recent US economic data shows that inflationary pressures remain stable, casting doubt on interest rate cuts by the US Federal Reserve (Fed). The Fed's interest rate decision on Wednesday is closely watched. The US Dollar Index (DXY) fell to 106.00, US bond yields...
AUSTRALIAN DOLLAR ( OANDA:AUDUSD ) ANALYSIS - Australian inflation eases less than anticipated in March and Q1 as a whole - AUDUSD continues to benefit from the return to risk assets AUSTRALIAN INFLATION EASES LESS THAN ANTICIPATED IN Q1 Monthly, quarterly and yearly inflation measures showed disappointing progress towards the Reserve Bank of Australia’s...
AUSTRALIAN DOLLAR Q2 FUNDAMENTAL OUTLOOK The Australian Dollar has been weak against the US Dollar in recent years, including 2024. However, there may be some positive news for Australian currency bulls, mainly due to weakness in the US Dollar rather than strong economic performance in Australia. Rising US interest rates and the safe-haven status of the Greenback...