KaiO_Trade
* Gold prices have found some support after plunging to a 7-month low,” noted Ed Moya, analyst at online trading platform OANDA. “Treasury yields are still rising, so gold’s respect of the $1,830 level could become major support. The rally in yields could continue but we should see some exhaustion as Wall Street awaits the NFP report and ahead of a long...
- Pound Sterling struggles to extend upside amid multiple headwinds. Despite a significant improvement, the UK Services PMI failed to conquer the 50.0 threshold. Andrew Bailey remains confident of bringing down inflation to 5% or below by year-end. - The Pound Sterling (GBP) recovers as the appeal for risk-perceived assets improves but struggles to extend the...
Pound Sterling capitalizes on improved market sentiment and BoE’s Mann hawkish commentary. Katherine Mann favored an aggressive policy-tightening approach. Investors shift focus to the UK August GDP data scheduled for Thursday. The Pound Sterling (GBP) stabilizes after recovering from a six-month low as market sentiment improves and Bank of England (BoE)...
- XAU/USD is still in bearish territory for the week after draining from $1,850. The US NFP firmly beat market expectations, sending risk appetite into the ceiling for Friday. - Gold spot prices have climbed into $1,833.00 in late Friday trading after a bumper US Non-Farm Payrolls (NFP) printing, and risk-on market flows are sending XAU/USD bids into fresh highs...
Gold prices (XAU/USD) recovered briefly to around 1,863 at the time of writing, USD as gloomy market sentiment fueled by escalating tensions between Israel and Hamas improved the asset's appeal Safely hidden. The yellow metal recovered with support from deepening geopolitical tensions, offsetting the impact of a surprisingly strong September Nonfarm Payrolls (NFP)...
- Gold price halts a losing streak due to correction in the US Dollar. Greenback extends losses after weaker-than-expected US employment data. Higher US Treasury yields beat the non-yielding assets like Gold. - Gold price snaps the losing streak that began on September 25, trading around $1,830 per troy ounce during the early Asian trading session on Thursday....
- After NF, many candles appeared to form the Dow breaking the 1830 resistance zone. Establishing a new structure above the 1830 level, the H4 frame showed a reversal signal, along with the flare-up of tensions in the Israeli-Palestinian conflict causing The outbreak of a geopolitical crisis will certainly cause panic about the need to buy safe-haven gold. - The...
- Gold price continues to draw support from reduced bets for further interest rate hikes by the Federal Reserve and geopolitical tensions in the Middle East. Atlanta Fed President Raphael Bostic said on Tuesday that the US central bank does not need to raise rates any further to get inflation back to the 2% target. - Minneapolis Fed President Neel Kashkari added...
EUR/GBP continues the losing streak that began on Tuesday, trading lower around 0.8650 during the European session on Friday. On Friday, better-than-expected United Kingdom’s (UK) housing data could provide minor support for the Pound Sterling (GBP). Halifax House Prices (MoM) declined 0.4% in September compared to the market consensus of a 0.8% decline and the...
- The Euro extends its weekly recovery against the US Dollar. Stocks in Europe trade in a mixed tone so far on Thursday. EUR/USD adds to Wednesday's advance beyond the 1.0500 hurdle. - The USD Index (DXY) appears under pressure in the sub-107.00 zone. The Construction PMI in Germany weakens in September. The usual weekly Claims and Fedspeak take centre stage...