Michael_Stark_Exness

Michael_Stark_Exness

Gold posted its biggest daily gain since December 2023 in the aftermath of the Fed’s meeting this week, so it certainly seems that the uptrend is still active. However, now that the price has reached the next psychological area of $2,200 and buying saturation is visible again, the next possible round of gains could be more modest than early March’s nearly vertical...

Michael_Stark_Exness

Much like cable, the pound has bounced back against the yen in recent days after relatively positive British data. However, Japan’s latest GDP release showed that a technical recession has been averted for now, and there are rumours that the Bank of Japan might even consider tightening policy at its meeting next week. There remains some speculation that Japan’s...

Michael_Stark_Exness

Cable briefly broke out of its range around last week’s NFP, moving up to nearly $1.29 before retreating again this week. Expectations that the Fed will cut in June have held in March so far while American inflation for February came in slightly higher than the consensus on Tuesday as widely expected. Although the golden cross of the 20 and 50 SMAs and the...

Michael_Stark_Exness

In the aftermath of the latest NFP, the US dollar has declined across the board while gold’s recent strong gains have continued to end the week close to its all-time high of about $2,185. Signs that the labour market could be slowing down seem to confirm expectations that the Fed will cut its funds rate in June. On the chart, the price of gold has made extremely...