Fundamental Overview Attention now shifts to US employment figures. Earlier on Thursday, the United States released Initial Jobless Claims for the week ended April 28, which rose by 242K, worse than anticipated. Also, Q1 Nonfarm Productivity declined by 2.7%, while Unit Labor Cost in the same period was up by 6.3%. Market players gear up for the April Nonfarm...
US Dollar's position as the primary global reserve currency is being challenged The US Dollar's dominance in the global market has declined from 71 percent to 59 percent in the last 20 years. This trend may continue, which could negatively impact the United States. The reason for this is that the use of currency in global trade is a zero-sum game. This means...
Fundamental Overview The GBP/JPY pair is nearing its highest point in six months at 172.17 following a break above the consolidation around 171.00 during the Asian session. The Japanese Yen has been affected by the new Bank of Japan Governor Kazuo Ueda's support of an ultra-dovish monetary policy to maintain consistent inflationary pressures above 2%. The BoJ...
Fundamental Overview The value of gold, specifically in relation to the US dollar, has slightly decreased after reaching an all-time high. This can be attributed to a temporary pause in the bullish trend, as investors wait for the release of the important US Nonfarm Payrolls data. The Fed has given an indication that they may halt their increase of interest...
Fundamental Overview Over the last two decades, the US Dollar's share of the global market has declined from 71 percent to 59 percent, and there is a possibility of further reduction in the future. This decline has an adverse impact on the United States as currency usage in the global trade market works on a zero-sum basis. When other currencies like Yuan,...
Fundamental Overview Last week, the United States released its Advance Gross Domestic Product (GDP) report which showed slower growth than expected in the world's largest economy. China's official Manufacturing Purchasing Managers' Index (PMI) also declined in April, while Japan's factory activity contracted for the sixth consecutive month. These economic...
Gold Price Forecround 2,000$, eyes on US Core PCE Price Indexast: XAU/USD bull-bear tug-of-extends a On Friday morning, the price of gold is stagnant and hasn't been able to stay above 2000$ due to the recent increase in the value of the US dollar. The focus now shifts to the US Federal Reserve's Core Personal Consumption Expenditures (PCE) - Price Index, which...
Gold extends the range play heading into key central bank event risks The latest report from the Institute for Supply Management (ISM) showed that the US manufacturing sector experienced a decline in business activity in April, reaching a three-year low. This marks the sixth consecutive month in which the sector has remained in contraction territory, which is...
Fundamental Overview The price of spot gold surged during the beginning of the American session and is currently hovering around 2,019.33$ per troy ounce, which is a new three-week high. At the start of the day, the US Dollar appeared to be strong, but it took a significant hit after the release of unimpressive US data and a decrease in government bond yields....
I. Not proficient unconsciously. When you enter the market and start trading, you may think that it's a great way to make money because you hear a lot about it and know of people who have made a lot of money from Forex. However, it's important to note that this is just the first stage and, like when you first learn to drive, it may seem easy at first but can be...
Fundamental Overview The Euro currency is being strengthened by the anticipation of future interest rate hikes by the European Central Bank. Despite a drop in inflation, the ECB's Philip Lane stated that keeping interest rates at their current level would not be appropriate. As a result, the market's response to the recent release of German consumer inflation...
Fundamental Overview The price of gold, measured in XAU/USD, is currently under pressure and has been on a downward trend for the past three days. Despite this, gold is still considered a safe-haven investment and buyers are expecting weekly gains. The recent recovery of the US dollar, driven by positive inflation signals from the US economic calendar, has been...
Fundamental Overview The USD Index, which follows the performance of the US dollar against other currencies, has declined and is impacting the USD/JPY pair. There are concerns about the banking sector crisis in the US, a potential recession, and the US debt ceiling, leading to speculation that the Federal Reserve may cut interest rates later this year. As a...
Brace yourself for BOJ's announcement The upcoming decision of the Bank of Japan on interest rates will be closely monitored by the markets, regardless of their expectations. This is because it will be the first such decision made under the leadership of the new Governor Kazuo Ueda. Analysts will carefully analyze the accompanying commentary for any hints on...
Gold price surrenders to US bond yields rise Investor sentiment remained affected by the ongoing struggles faced by regional banks in the US. Additionally, the XAU/USD saw a decrease in demand due to a rise in the US Treasury bond yields. The yield on the US 10-year Treasury bond increased by four basis points, currently standing at 3.447%. However, it is still...
Hello trader, I have some information to share ♥ Gold is a type of currency in the Forex market and can only be traded with United States dollars. The universally recognized code for gold is XAU, and it is considered a secure investment option that tends to increase in value during periods of economic instability and unpredictability.
Fundamental Overview On Monday, the US Dollar experienced a significant drop as sellers took over after a brief dip on Friday. This happened as the US Treasury bond yields decreased across the curve. The 10-year US Treasury bond yields fell by eight basis points, marking the largest single-day decline since March. Additionally, the 10-year US rates dropped below...
Unexpected upturn in mortgage activity, investors should also look for a sustained rise in inflation Investors should keep an eye on the inflation rate, which is expected to steadily increase, along with the recent surge in mortgage activity. This could lead to the Bank of England taking action to tighten monetary policy. As a result, the British Pound could...