Early on Monday during Asian trading hours, gold prices (XAU/USD) surged to a record high above $2,440.
Renewed expectations of US Federal Reserve (Fed) interest rate cuts are a major factor supporting the bullish movement of the precious metal. Traders had priced in almost two quarter-point reductions from the Fed this year, with November most likely serving as...
This past week saw a significant decline in the DXY index, which momentarily hit its lowest level since the 9th of April. The main causes of this selloff were lower-than-expected U.S. employment data and declining U.S. Treasury yields after the Federal Reserve's monetary policy decision.
The US non-farm payrolls report, which followed, added to the currency's...
For the last two weeks, USD/JPY has been behaving range-bound, bouncing between support at 150.90 and resistance around 152.00. This implies that a phase of consolidation has begun. In light of this, traders seeking insight on the near-term outlook should watch for either a breakout at 152.00 or a collapse at 150.90.
If there is a positive breakout, there will be...
The increase in U.S. Treasury yields and the strength of the US dollar caused gold prices (XAU/USD) to drop last week, dropping roughly 1.05% to $2,155. The precious metal has maintained a strong bullish momentum despite this setback, as evidenced by its performance in March thus far, which has resulted in a gain of about 5.5% and led to recent all-time...
On Thursday, the gold price (XAU/USD) fell to $2,000 during early Asian trading hours. The downward trend of yellow metal has been supported by good economic statistics in the United States, which has reduced expectations of an impending interest rate cut. At press time, the gold price is $2,007, up 0.07% on the day.
Meanwhile, the US Dollar Index (DXY), a...
On Monday, the shared currency gained ground versus the US dollar, which was battered as US Treasury bond rates continued to fall, creating a headwind for the buck. Despite a bleak economic picture in the Eurozone (EU), the EUR/USD continues to rise, aided by a weak US dollar. The EUR/USD is currently trading around 1.0957, with buyers aiming for the 1.1000 mark...
The United States Dollar is the world's most widely used reserve currency and the most popular currency overall. The USD is sometimes referred to as "The Greenback" due to its green color, and traders wishing to purchase assets in or from the US frequently find it to be their preferred option. Traders frequently want to purchase US Treasuries when risk aversion is...
Gold (XAU/USD) has recovered to $1,970 after rebounding from a weekly low of $1,950 in early Asian trading on Wednesday. The US dollar (USD) has stabilized, supporting the precious metal's modest gain.
The US Dollar Index (DXY), which measures the USD's strength versus six important currencies, is still close to 106.25 at the same time. However, since gold...
