The EUR/USD, which is like the tag team of the Euro and the US dollar, didn't really do much when the December Fed minutes came out. It kind of shrugged and kept going down, hitting 1.0895, the lowest it's been since December 19th. That's like the slide at the park—it just kept going down. Traders seemed all about taking risks, and that made the EUR/USD pair keep...
Gold is poised to mark its first weekly decline in a month on Friday, as the U.S. dollar gains support from fading expectations of an early interest rate cut. Investors are eagerly awaiting a key employment report later in the day to glean further insights into the future of interest rates. The dollar index is on track to register its best weekly performance since...
Ah, the glittering world of gold! It's like a treasure hunt in a maze filled with news and whispers. Picture this: a Thursday morning where the gold market is as quiet as a library, all due to that sneaky non-farm payroll announcement peeking around the corner on Friday. It’s like everyone's holding their breath, waiting for that big news to drop, hoping it won't...
Hi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊 Recently price traded near support level, which coincided with support area, but soon it declined below to support line of pennant. After this, EUR in a short time rose back, thereby making fake breakout of $1.0775 level and later it made upward impulse. Price...
Gold prices begin to fall, Spot gold fell from a high of $2,088 in late December amid a stronger U.S. dollar that took it to Wednesday's low of $2,031, from where it was struggling regain recently lost ground. The mid-December high of $2,048 is currently being tested, a move above this level would target the December 21 high, Friday and Tuesday lows at $2,055 to...
Gold prices (XAU/USD) struggled to capitalize on modest intraday gains and retreated to the lower end of the day's trading range during the first half of the European session on Wednesday. The US Dollar (USD) attracted some buying activity and traded above a one-week high reached the previous day amid doubts about the Federal Reserve's ability to cut interest...
The most recent survey from the Bank of England Decision Maker Panel (DMP) in December is likely to maintain a division within the committee regarding the outlook on interest rates. Those leaning towards a more cautious approach will highlight the ongoing decline in inflation expectations. The 1-3 year ahead expectations, calculated on a three-month average...
Spot Spot Gold's advance from its mid-December $1,974 per troy ounce low has briefly exceeded the 2020, 2022 and May 2023 highs at $2,070 to $2,082 by rising to $2,088 on Thursday before giving back some of its recent gains and slipping to $2,059 on Friday. Earlier today the precious metal resumed its ascent on increasing geopolitical tensions in the Res Sea and...
The $2,050 level stands out as a pivotal point, having demonstrated substantial resistance across multiple instances. This price threshold demands vigilant observation from market participants due to its historical significance. While the market seems to be inching closer to this critical level, it's essential to recognize a notable trend: the market tends to...
The Euro's dance with the US dollar last Thursday painted a curious picture - a spirited attempt to soar, only to stumble in the face of market fatigue, as if gravity suddenly remembered its role in the financial theatrics. This weariness isn't a solo act; it has accomplices. The Euro's recent surge stretched its limits, much like a rubber band pulled too far. And...
Let's talk about the pound and the dollar - they had quite a week! The pound was like a kid on a seesaw, going up and down against the dollar. Sometimes it looked like it was winning, but by the end of the week, it didn't close at the top. There was a holiday break for the markets on December 25, but the GBP/USD pair didn't rest much. There was some action because...
The Australian Dollar (AUD) tries to end a losing streak on Friday. The AUD/USD pair is facing bearish pressure, even as the US Dollar (USD) lacks clear direction and China's Caixin Services PMI improved in December. Market Sentiment Weakness and widespread commodity price declines have both played a role in the Australian Dollar's weakness. Australia's Judo...
The EUR/USD pair remains on the defensive during the early Asian trading session on Thursday. The backdrop of a stronger greenback and higher US Treasury yields exerted some selling pressure on the major pair. At the time of writing, EUR/USD is trading at 1.0922, up 0.01% on the day. On Wednesday, Germany's unemployment rate remained steady at 5.9%, according to...
Hey Traders! Check this out – NZDUSD is shaping up to be a pretty exciting play. We've just seen a break below the 1-hour moving averages, and we're now under a key pivot level on the lower timeframes, which hints at some solid bearish momentum. Also, the 4-hour candlestick is sporting a long upper shadow, suggesting that the sellers might be settling in for the...
The au Jibun Bank Japan Manufacturing PMI remained in contraction territory for the seventh straight month and fell to 47.9 in December – the lowest level since February. Predictions of a reversal in the policy divergence between the Bank of Japan (BoJ) and the Federal Reserve (Fed) in 2024 will continue to support the JPY. Minutes from the December 12-13 FOMC...
The Australian dollar (AUD) faces challenges as it struggles to stem a losing streak on Thursday. The AUD/USD pair is under downward pressure due to risk-taking sentiment and the general bearish session of the commodity complex. Weaker Judo Bank Purchasing Managers' Index (PMI) data added further pressure on the Australian Dollar (AUD). According to the latest...
Hey Traders! Got a bit of a challenging one for us today. The market's been on a steep downtrend, but recently, it showed signs of upward movement after the release of somewhat positive PMI news for the dollar. Despite these dynamics, I'm sensing a potential drop of 60-100 pips. The currency is hovering around a monthly pivot line, and the 200-day moving average...
The S&P U.S. Global Manufacturing Purchasing Managers' Index (PMI) for December fell below investor expectations on Tuesday, sliding to a four-month low of 47.9 vs. The forecast level is stable at 48.2 from November. Market appetite is distorted by erroneous data and investors are starting to temper expectations for interest rate cuts from the US Federal Reserve...