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Xayah_trading Updated 

On Friday (July 5), data from the US Department of Labor showed that US nonfarm payrolls increased by 206,000 jobs in June. The May data was revised sharply downward to show an increase of 218,000 jobs, compared to the previous value of 272,000. The unemployment rate rose to 4.1% in June, slightly above expectations of 4.0%. Friday's nonfarm payrolls report...

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The risk of Japan raising interest rates combined with recent suspected intervention in the foreign exchange market has supported the Yen's recovery. If US second quarter GDP and June PCE data are unimpressive then OANDA:USDJPY is expected to continue to decrease. Even though S&P Global announced on the same day that the US Composite Purchasing Managers' Index...

Xayah_trading Updated 

OANDA:XAUUSD Strong recovery, Gold price reached 2,418 USD/ounce during the Asian trading session on July 24. Spot gold ended a four-session losing streak as India's move to cut import taxes on gold and silver is expected to boost global gold demand. India plans to significantly reduce import duties on gold and silver The Indian government on Tuesday...

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Early in the Asian trading session on July 25, OANDA:XAUUSD decreased more than 1%, as of the time the article was completed, gold was trading at 2,372USD, equivalent to a decrease of 25Dollar during the day. Former New York Fed President Dudley (who enjoys perpetual voting rights on the FOMC and is known as “the Federal Reserve's third in command”) wrote: I...

Xayah_trading Updated 

Although market expectations for an interest rate cut by the Federal Reserve in September continued to increase, gold prices remained very volatile and had a significant correction session. Gold prices hit a record high of $2,483 on Wednesday amid positive interest rate cut expectations, but failed to hold on to gains as investors booked profits. This, along...

Xayah_trading Updated 

OANDA:XAUUSD revised down from record highs but growing optimism about the Federal Reserve's interest rate cut in September and a weaker US Dollar still stimulated gold demand. On the economic front, the Federal Reserve's Beige Book survey showed the U.S. economy growing at a modest pace entering the third quarter. The latest edition of the “Beige Book” was...

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During the last weekend, the price of OANDA:XAUUSD decreased due to the strengthening of the US Dollar and profit-taking activities in the market. The gold market once again ended this week in a key price position, testing key support at the original price point of $2,400/ounce. Before that, the price of gold hit a record high this past week, largely due to...

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US President Joe Biden on Sunday abandoned his difficult re-election bid under growing pressure from members of his Democratic Party and endorsed Vice President Kamala Harris to succeed him as party candidate on November 11. Biden will face Republican candidate Trump in the presidential race in the November election. If officially nominated, Harris, 59, will...

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OANDA:XAUUSD fell below its original price of $2,400 on Monday (July 22) as the dollar strengthened slightly, making gold more expensive for holders of other currencies, while markets waited for more data US economists and Federal Reserve officials commented this week to clarify the interest rate cut schedule. According to CME "Fed Watch" data, the probability...

Xayah_trading Updated 

Earlier in the week, USDJPY surged to multi-decade highs around 154.80 before retracing slightly from those lofty levels as the weekend approached. If the downward reversal gains traction in the upcoming trading sessions, support looms at 153.20 and 152.00 thereafter, with 150.80 possibly becoming a focal point if these price thresholds are breached. On the flip...

Xayah_trading Updated 

Following a robust rally earlier in the week, USDJPY took a breather on Thursday, displaying a lack of clear direction but maintaining a steady position above 155.00. If gains resume, resistance looms at 158.00 and 160.00 thereafter. Traders, however, must view movements towards these levels with caution, as Tokyo may step in again to support the yen, which could...

Xayah_trading Updated 

USDJPY continued its upward trajectory on Monday, consolidating above the 156.00 handle. Should this momentum pick up later in the week, resistance appears at 158.00, followed by 160.00. It's important to exercise caution with any ascent towards these levels, considering the possibility of FX intervention by Japanese authorities to bolster the yen. Such a move...

Xayah_trading Updated 

Japanese officials recently intervened in the foreign exchange market as the USD/JPY exchange rate approached the 160 level. However, this time the upward movement has been more gradual and less volatile, prompting no action from Japanese officials. The USD/JPY pair is currently trading above 157.00 and has rebounded strongly off the 50-day SMA in early May. The...

Xayah_trading Updated 

The Bank of Japan said last Friday that it would begin reducing its bond purchases, but the reduction remains limited. So, from a fundamental perspective, this is not stimulating the Japanese yen at all. Show transactions OANDA:USDJPY is still watching for signs of how the Japanese government will intervene to support the yen to continue its appreciation....

Xayah_trading Updated 

Taking advantage of the weak US consumer price index (CPI) on Thursday to push the US Dollar down in price on the foreign exchange market, the Japanese government intervened, causing USD/JPY to plummet. The amount of intervention by the Japanese government that day amounted to 3.57 trillion yen (22.43 billion USD), less than 3 months since the last...

Xayah_trading Updated 

OANDA:XAUUSD recovered after correcting and testing support at the $2,400 base price point on Monday. At the time this article was completed, gold was trading at 2,430USD/oz, an increase equivalent to 0.31% of more than 7Dollar on the day. Gold price rose for a third straight week but fell short of its daily high as Federal Reserve Chairman Jerome Powell kept...

Xayah_trading Updated 

"Dovish" comments by Federal Reserve officials reinforced market expectations of a US interest rate cut in September. Investors flocked to gold, the safe-haven asset and Gold prices increased further and continuously reached new all-time records. Federal Reserve Chairman Jerome Powell said Monday that recent inflation data has reinforced policymakers' confidence...

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Since the beginning of this year, the pound has been one of the best performing currencies. There are three factors that are driving sterling's strength and these are likely to continue to support gains in sterling over the medium term. 1. Interest rate difference Interest rate differentials are the main fundamental driver of currencies and are currently having...