During the early hours of Good Friday, the XAU/USD remains defensive at $2,007 after experiencing the largest drop in two weeks. The lack of liquidity driven by the holiday and caution ahead of the top-tier United States employment data for March is restricting XAU/USD movements. Furthermore, the fear of a recession is also affecting the Gold price, even though...
On Good Friday, the EUR/USD pair took a pause after a three-week uptrend, but it still posted its third consecutive weekly gain due to the European Central Bank's relatively more hawkish bias. The pair is currently hovering around 1.0920 as Euro bulls await the US Nonfarm Payrolls, which will be released on Friday. The holiday has also limited the pair's reaction...
Over the last few days, the price of silver (XAG/USD) has been fluctuating around $25.00. After reaching a one-year high on Wednesday, the value has retreated and remained relatively stable during Good Friday's inactive Asian session, hovering around $24.95. Despite this, the precious metal remains in a good position for a fourth consecutive weekly gain. Market...
The most recent survey from the Bank of England's Monthly Decision Maker Panel (DMP) was published on Thursday. The survey showed that DMP members anticipate that the Consumer Price Index (CPI) inflation will be 5.8% one year from now, which is a slight decrease from the 5.9% forecasted in February. The DMP is a group of decision-makers from various businesses...
The price of gold has remained relatively stable following its recent multi-month high, showing only mild fluctuations. This has been attributed to the continued impact of United States data, which has been weighing heavily on US Treasury bond yields and allowing the price of gold to remain relatively stable. This has also been due to threats to the US dollar's...
After Hitting Our Previous Take Profit, We Are Anticipating a Long Continuation Setup on GBP/USD. The Price Has Formed a Bullish Flag Pattern in the Last Few Hours, Finding Support at the 61.8% Fibonacci Level Before a Strong Push Up in the Direction of the Main Trend. Our Focus is on a Long Setup Continuation in the Direction of the Main Trend.
Yesterday, as we described, the GBP/JPY currency pair experienced a retest of its previous support level. This coincided with the 61.8% Fibonacci level. As we predicted, the price pulled back and our idea for a long setup entered the profitable zone with a strong bullish impulse during the Asian trading session. Today, we are anticipating a continuation of this setup.
Investors who believe in the value of gold are celebrating as the price of XAU/USD slowly rises to $2,025, hitting a 13-month high due to a general weakening of the US Dollar. This positive trend is driven by the market's uncertainty over the US central bank's aggressive rate hike policy and its response to hawkish Fed talks. Additionally, concerns over the...
The GBP/JPY pair is poised to experience further weakness below 164.00, despite a promising UK economic outlook. The sentiment among UK businesses has improved as political instability and inflationary pressures appear to be easing. However, any positive impact on Japan's inflation caused by external factors could cause problems for BoJ policymakers. The GBP/JPY...
The bears appear to be in charge of the USD/JPY as the US Dollar lingers close to a 2-month low. The market's focus now shifts to Friday's Nonfarm Payrolls jobs data. The USD/JPY has dropped in Tokyo, reflecting the US Dollar's continued weakness. The pair is currently trading at around 131.50 and has fallen from its earlier high of 131.73 to a low of 131.30. The...
Based on current analysis, it appears that the price of gold is showing some uncertainty as it moves within a pattern known as a "pennant". Despite this, there is still potential for the price to increase, as there are risks that could push it up. In order for this to happen, the price would need to break above a downward trendline at the price of $2,000,...
The USD/JPY currency pair has declined to 132.20, continuing its retreat from a two-week high. The drop in US Treasury bond yields and softer data, as well as upbeat comments from Japan's Prime Minister Fumio Kishida, may be behind the recent losses. Kishida has pledged more investment to speed up private investment in green transformation bonds to promote...
The EUR/USD pair was expected to surge past the 1.10 mark this week, as per economists' predictions. However, the recently announced production cut by OPEC+ has given the dollar a much-needed boost, causing a delay in the anticipated move to 1.10. While breaking above 1.10 is still a possibility, the OPEC+ cut has had a positive effect on the USD, making it...
The USD/JPY pair has surged to an intraday high near 133.50, close to the highest level in two weeks. The recent rise can be attributed to higher US Treasury bond yields and a stronger US dollar as the market anticipates the release of the crucial Nonfarm Payrolls (NFP) report on Friday. The recent challenges to market sentiment, mainly from the OPEC+ group's...
There may be a potential reversal in the movements of EUR/CAD following the breaking of its dynamic trendline and testing the top at 1.4940. The negative correlation between EUR/CAD and EUR/USD suggests that an increase in EUR/USD and a decrease in EUR/CAD may occur. We are currently waiting for this to happen. Our indicator has already signaled a sell entry,...
GBP/JPY continues its winning streak, with bulls pushing the pair to a new one-month high around 165.50. The positive sentiment driving the rally could be attributed to upbeat news on Brexit, with UK Prime Minister Rishi Sunak announcing a £1.8billion boost as Britain signed up to the Trans-Pacific Partnership. However, the latest Japan inflation data released on...
The NZD/USD pair has climbed for two consecutive days and reached its highest level since February 16. The Kiwi, being sensitive to market risk, has benefited from the current risk-on environment, as the USD remains subdued. However, the bulls are wary and are looking for fresh impetus from the crucial US Core PCE Price Index. The NZD/USD pair has gained positive...
According to the latest economic data, the US Federal Reserve's preferred inflation gauge suggests that the cumulative tightening measures are still curbing inflation. The University of Michigan's Consumer Sentiment was worse than anticipated, but inflation expectations cooled. The GBP/USD Price Analysis shows that the Pound Sterling is trading with decent losses,...