XAU/USD is auctioning in a narrow range of $1,916.00-1,925.28 amid uncertainty over the FOMC minutes release. Gold prices are forming a diamond pattern that signals a bullish reversal after a prolonged consolidation. The DXY is approaching 100.00 amid a souring market mood. Gold (XAU/USD) is displaying a subdued performance on Wednesday after witnessing a steep...
A combination of factors dragged EUR/USD to a four-week low on Wednesday. The Ukraine crisis, uncertainty over the French elections weighed on the euro. Hawkish Fed expectations, the risk-off mood boosted the safe-haven greenback. Investors now look forward to the FOMC meeting minutes for a fresh impetus. The EUR/USD pair added to its recent heavy losses and...
Gold price remains choppy within a familiar range amid mixed market sentiment. The West mulls additional punishments on Russia, US Treasury yields head south. Gold price remains stuck between two key daily averages, Fed minutes eyed for a fresh direction. Gold price defied the bullish odds and rebounded from multi-day troughs of $1,916, as the worsening...
EUR/USD Looks Increasingly Vulnerable To A Decline. EUR/USD fell on Monday as fresh claims of Russian war crimes in Ukraine led to increased speculation of more punitive sanctions against Russia. The news, combined with other developments over the weekend, dented hopes of a possible de-escalation in the war last week. Added downward pressure on the euro also came...
GBPNZD: Look for a pull back on the lower TF before shorting this pair.
GBP/USD has started to edge lower in the early European session. The pair could face renewed bearish pressure if 1.3100 support fails. Risk perception is likely to be the primary market driver on Monday. The British pound has started the new week in a calm manner but has started to inch lower toward 1.3100 in the early European session. The technical outlook...
Gold price kicks off a fresh week on a downbeat note, as bond rout extends. Hawkish Fedspeak, uptick in US wage inflation back aggressive tightening. Gold’s daily chart favors bears as Russia-Ukraine peace talks offer a ray of hope. Despite the below-forecast US Nonfarm Payrolls, the upward revisions to the previous release and hotter than expected earnings growth...
Bearish wedge suggests more pain for gold bulls “The US Core PCE price index is due for release later on Thursday. Hotter inflation is likely to seal in a 50-basis points May Fed rate hike. Although concerns over a potential recession, in the face of the recent yield curve inversion and aggressive Fed’s tightening could have a major impact on the dollar and gold...
EUR/USD: Risks tilted toward a larger decline – Wells Fargo Analysts at Wells Fargo forecast a period of extended weakness for the EUR, with risks tilted to the downside. They see EUR/USD trading at 1.0800 by the end of the third quarter. Key Quotes: “We forecast a period of extended euro weakness; however, the risks are potentially tilted toward a larger...
Gold Price Forecast: XAU/USD to shrugg off US labour data – Commerzbank Gold is trading at just shy of $1,930 again. The ADP’s labour market data will be published in the US today, giving a foretaste of Friday’s official labour market report. However, its impact on the yellow metal should be limited. Under the influence of news about Ukraine war “The response of...
EUR/USD pushes further and clinches new multi-week highs. The greenback remains offered as risk-on mood persists. Germany Flash Inflation Rate next of relevance in the docket. The European currency extends the optimism for another session and lifts EUR/USD to fresh 4-week highs in the vicinity of 1.1150 on Wednesday. EUR/USD up on weaker dollar, looks to...
GBP/USD rebounds from near two-week low, flat-lined below 1.3100 amid risk-on mood GBP/USD witnessed some intraday selling on Tuesday amid renewed USD buying interest. Hawkish Fed expectations, rising US bond yields continued acting as a tailwind for the buck. A positive risk tone capped gains for the safe-haven USD and helped limit losses for the pair. The...
EUR/USD Forecast: Euro recovery likely to be capped at 1.1040 EUR/USD has regained its traction after dropping to two-week lows. The pair could find it difficult to clear the 1.1040 hurdle. Eyes on Russia-Ukraine talks, US consumer confidence data. EUR/USD has reversed its direction after having touched its weakest level in two weeks at 1.0944 on Monday. The pair...
Gold Price Forecast: XAU/USD’s path of least resistance appears down, Ukraine updates eyed Gold bulls try their luck but upside attempts appear limited amid cautious optimism. DXY eases with yields while weaker oil prices, China’s covid support buoys sentiment. Gold price breaches key daily support, Ukraine updates could revive the dollar’s demand. Gold price...
NZD/USD bears in control as US dollar firms NZD/USD under pressure as US dollar firms. RBNZ pricing vs. the Fed is the focus. At 0.6944, NZD/USD is trading lower on the day so far by some 0.23% after sliding from a high of 0.6963. The US dollar is firm in the open following its sixth weekly gain in the past seven. DXY, an index that measures the US dollar vs. a...
GBP/JPY eases from 6-year high, rally may be losing steam GBPJPY reached a fresh six-year high of 161.48 earlier today but the price has now pulled back to around 160.75. The pair has risen sharply from the two-month trough of 150.97 plumbed on March 8. However, the momentum indicators suggest the latest upswing is cooling. Both the RSI and the stochastic...
NZD/USD struggles below 0.7000 on mixed concerns over Ukraine, inflation NZD/USD fades recent recovery following a volatile day with the first negative close in three. NATO criticized Russian invasion and braced for Ukraine help, G7 showed diplomacy while US pushed to remove Moscow from G20. Yields stayed firmer even as US data came in mixed, Jobless Claims...
FTSE 100 remains green but pegged back by Next disappointment, US markets open higher US stocks open higher but the positive US tech sentiment isn't global FTSE 100 up 11 points at 7,471 Sunak holds back £32bn 'war chest' claim P&O boss may accept bonuses despite mass and immoral sacking As expected, US stocks opened slightly higher, rebounding from some of the...