The UK's economic recovery appears to be slower than that of most G7 partners, with only Germany experiencing a more sluggish recovery. A surprise drop in inflation coupled with signs of an economic slowdown could force the Bank of England to reassess its monetary policy stance in the coming months to support growth.
AUDUSD surpassed its recent high of 0.6800 last Friday, reaching levels not seen in nearly five months. The initial rise in the Australian dollar was attributed to increased market risk appetite and a decline in the US dollar. Additionally, hawkish sentiment around the RBA supported the Australian dollar. AUDUSD continues its uptrend intraday. Upward movement...
October brought a significant turning point for gold as rising geopolitical uncertainty coupled with the prospect of changes to US monetary policy caused spot prices in USD/oz to increase by 7.32% - biggest monthly gain since March 2023. Gold ended the month up 8.76% year to date, while also breaching the psychological US$2000/oz threshold on October 27 for the...
USDJPY surged after falling below the 200-day SMA but encountered strong resistance at the 200-day EMA and recovered some of last week's decline. The Relative Strength Index has recovered from the 30 level, but it is trending sideways and the MACD is rising after falling below the trigger line. If the upward pressure continues, the price could revisit the previous...
The dollar fell sharply on Thursday and is on track for an annual decline after two years of strong gains as expectations of an interest rate cut from the Federal Reserve next year are holding back markets. As the year comes to a close, thin liquidity and limited volatility are predicted until the new year. The dollar index, a measure of the US currency against...
Gold prices (XAU/USD) are on a steady trend, positioned for their best year in the past three years, driven by various global economic factors and geopolitical tensions. Although spot gold fell slightly early Wednesday, it remained near a two-week high. Gold futures prices, in turn, are rising, making them likely to post strong annual gains. This performance...
Gold, the longtime safe-haven asset, experienced a notable rally, surpassing the psychological barrier of $2,060 an ounce on Tuesday. This increase is likely due to a combination of factors, with market participants closely monitoring developments in the US economy, especially with regard to inflation and possible cuts. Federal Reserve interest rate cuts. From a...
The technical outlook for gold is quite optimistic, especially when the FED's actions are showing that they will have a high possibility of cutting interest rates. That will have a positive impact on gold. Gold in today's session will increase to the 2070 threshold, but then will decrease again. Optimism about gold price increases is still very promising, when...
This morning, global spot gold prices were at $2,053.2 per ounce and gold futures were at $2,064.5, as markets were still closed after Christmas. Last week, global gold prices registered a slight increase in the last trading session, but the $2,050 per ounce level remained a key resistance level that would be difficult for the precious metal to overcome. However,...
Pound-to-dollar exchange rate faces headwinds as US dollar strengthens on inflation data in November. Report reveals consumer price index (CPI) up 0.1% and a 0.3% increase in the core CPI, has caused the market to reassess expectations for an impending rate cut. As the Federal Reserve convenes to discuss its next policy decision, analysts anticipate an effort by...
The Euro continues to strengthen as Martins Kazaks, member of the Governing Council of the European Central Bank (ECB), highlighted the need to maintain current interest rates over the long term. However, he suggested that the first interest rate cut could materialize around mid-2024. This statement strengthened the Euro's position as the commitment to maintain...
The technical analysis of the Pound to US Dollar (GBP/USD) pairing adds another layer to the narrative. The currency pair is currently approaching a critical support level at $1.265, representing a potential pullback point. This level aligns with a confluence of Fibonacci levels, including the 50.0% retracement and the 61.8% projection levels. This confluence ...
Gold prices fluctuated in a narrow range during the early Asian session. Guided by the 60-day SMA in the 1H chart, gold fluctuates downward. Early in the US session, the USD recovered from lows following the data and hawkish comments from Fed officials. Gold then lost value and once fell to $2027.50, closing the daily chart lower. Along with yesterday's growth,...
AUDUSD has seen a notable recovery this week, rising to 0.6791 on Thursday, marking its highest level since late July. After a failed attempt at the beginning of the month, bulls finally broke above the resistance trend line dating back to April 2022, adding to market optimism that the trend is reversing upwards from the lows of the year in October can continue....
During the Asian trading session on Thursday (December 12), spot gold price decreased slightly and is currently trading at 2037 USD. Yesterday, Fed officials remained hawkish and stated that there would be no 'immediate interest rate cuts'. It was another hawkish speech following the hawks after Powell signaled dovishness. At that time, the market must wait for...
This is what we said before, once a trend has formed it cannot end anytime soon. The market no longer believes in the Fed's management of expectations anymore. Next year, the Federal Open Market Committee will have new members and then moderate officials will prevail. More data and time are needed to verify the resilience of inflation and the economy before...
Gold prices yesterday during the Asian session mainly fluctuated in a narrow range. At the start of the US market, gold prices quickly surged amid a weakening dollar index and after a close until 2047. However, under pressure from hawkish theory and strong economic data strong, gold prices fell slightly, eventually closing. a small white body. Gold prices are...
The EURUSD lost momentum on Wednesday as concerns about the eurozone's economic outlook intensified. However, the intraday bias remains neutral and more consolidation is likely below 1.1008. A further rebound is expected as long as the 1.0722 support level is held. On the upside, a break above 1.1016 would resume the overall uptrend starting from 1.0450 and retest...