We dive deep into the recent movements of Gold (XAUUSD) following the release of the US Nonfarm Payrolls (NFP) data. On Friday, Gold initially surged to the $2,310 zone after the NFP numbers missed markets' expectations, signalling a cooling jobs market. However, bears quickly took control, pushing the price back into a demand zone identified on the chart. The...
USD/JPY The secondary trend on the USD/JPY has printed a trend-changing pattern after breaking above the pullback structure. This move gives us a piece of crucial information, that we can buy at the low after the current wave structure is complete. Currently, our high probability trade is selling now to buy later. GBP/USD The Cable is bearish because we have...
Last week, Gold attempted to extend its decline as the USD gained strength following the release of the United States annual core Personal Consumption Expenditure Price Index (PCE) data for March. This data exceeded expectations, with the annual underlying inflation rate accelerating to 2.7% from the projected 2.6%, albeit slower than the 2.8% recorded in...
Gold closed last week with a modest 0.59% gain, after touching an all-time high of $2,431. Geopolitical tensions spurred demand for safe-haven assets, pushing gold to its new peak before a pullback due to a strengthening US Dollar. The release of US inflation data midweek introduced volatility in gold prices. Following the Consumer Price Index (CPI) report, the...
Today's focus: AUDJPY Pattern – Continuation Support – 98.90 & 98.35 Resistance – 100.20 & 100.60 Hi, traders; thanks for tuning in for today's update. Today, we are looking at the AUDJPY on the daily. We could have a new continuation forming as buyers have beaten yesterday's high backing in a second positive session. Australian employment data came in mixed...
Gold prices surged to a record high last week, marking their most impressive monthly performance in over three years. This remarkable rally was primarily fueled by mounting expectations of U.S. interest rate cuts and robust safe-haven demand. Furthermore, escalating geopolitical tensions on a global scale may drive investors towards gold as a preferred neutral...
The Gold price (XAU/USD) surges to a new record high above $2,180 as yields on 10-year US bonds dip to 4.04% following the release of the US NFP data. According to the US Bureau of Labor Statistics, the Unemployment Rate climbed to 3.9%, exceeding expectations and up from the previous 3.7%. While Nonfarm Payrolls for February surpassed projections at 275K...
Gold surged on Friday, reaching its highest level since early January, surpassing 2,080 as the 10−year US Treasury bond yield dropped by approximately 1.52% following the release of mixed economic data. S&P Global's report indicated an expanding US economy, while the Institute for Supply Management (ISM) highlighted a contraction in manufacturing activity,...
Gold prices resumed it's upward momentum on Friday, closing the week with gains amid a decrease in US Treasury bond yields. The 10-year benchmark note saw a decline of three and a half basis points, settling at 4.248%. Despite recent comments from Federal Reserve officials suggesting a somewhat hawkish stance, investors responded positively by reducing...
Market participants are eagerly awaiting fresh guidance on Bank of England (BoE) interest rates as uncertainty lingers over the timing of potential rate cuts. Speculation suggests the central bank might consider reducing interest rates in the early part of the second half of the year, with the likelihood of a rate cut in the June policy meeting currently below 50%...
At the close of last week's trading, Gold has shown resilience by surpassing the $2,000 mark. Recent US economic indicators hint at persistent inflation, despite signals of potential policy adjustments from the Federal Reserve. Notably, Producer Price Index (PPI) data exceeded expectations, underscoring the Fed's ongoing efforts to manage inflation. Additionally,...
Explore the latest market dynamics in our new video as we analyze the USD/JPY movement, surging over 0.90% to 148.05 following a robust US jobs report and elevated Treasury yields. The addition of 353K jobs in January has shifted Fed rate cut forecasts, reflecting a tightening labor market and bolstering confidence in the US economy. However, amidst this positive...
The Tokyo Consumer Price Index (CPI) for January witnessed a deceleration in Japan's national capital, dropping to 1.6% from the previous reading of 2.4%. This marks the first time in almost two years that consumer inflation has fallen below the Bank of Japan's (BoJ) 2.0% target. Additionally, the Core CPI (YoY) experienced a decline from 3.5% to 3.1%. The Bank...
Over the past week, the price of Gold has been fluctuating between $2,000 and $2,035. This is because buyers seem to be taking a break, indicating a neutral to bullish outlook on the daily chart. Furthermore, the USD's recovery, driven by market adjustments related to the Federal Reserve and the resilience of the US economy, is putting pressure on the price of...
USD/JPY appears to encounter resistance around 148.80 over the last three days, with fading bets on a Fed rate cut. While bullish sentiments persist, the bulls take a breather, gearing up for potential momentum next week, pending the Bank of Japan's (BoJ) monetary policy hints. On the USD front, resilience continues fueled by recovering US yields and positive...
Gold's recovery near $2,030 persists as the US Dollar adopts a sideways trend. Despite a less convincing pullback in Gold, traders have tempered expectations for a Fed rate cut in March. While the precious metal has rebounded significantly amid escalating Middle East conflicts, the short-term outlook remains cautious due to limited upside potential, influenced by...
HELLO TRADERS Hope everyone is doing great 🛑 New week new opportunities A look at the EURUSD ahead of the new week 👌MULTI-TIMEFRAME ANALYSIS DXY DAILY * We see the 78.6 % FIB level holding in the past week. * Looking for signs of some bearish momentum for continuation with the bears. * The DXY is currently trading in PREMIUM. * Any signs of bearish momentum...
Explore the unfolding story of USDJPY in our latest technical analysis! Japan's Current Account growth fell short of expectations, printing at ¥1,925.6 billion in November. Despite markets anticipating ¥2,385.1 billion, the actual figure raised concerns. With expectations of the BoJ maintaining its ultra-dovish stance, we analyze how this might impact the JPY's...