OANDA:XAUUSD remains weak on the recovery of the US Dollar and the release of the US Producer Price Index (PPI) and Consumer Price Index (CPI) later this week will be the focus of market attention. Traders need to prepare for a busy period of economic data and events in the United States (US), which will include inflation data, retail sales data and a speech...
OANDA:XAUUSD remained strong as the Dollar and US Treasury yields weakened, although data showed US producer prices rose more than expected in April, suggesting inflation remained high. Federal Reserve Chairman Jerome Powell said Tuesday that his confidence that inflation will continue to cool is no longer as high as it was at the beginning of the year and that...
Gold ended the week higher after a late rally on Thursday and Friday. It had initially pulled back from its all-time high due to trendline resistance. The precious metal is expected to react to the latest US inflation data, which affects Treasury yields, interest rate expectations, and the US dollar. Gold bulls are hopeful that softer CPI data will drive the metal...
AUSTRALIAN DOLLAR ( OANDA:AUDUSD ) ANALYSIS - Australian inflation eases less than anticipated in March and Q1 as a whole - AUDUSD continues to benefit from the return to risk assets AUSTRALIAN INFLATION EASES LESS THAN ANTICIPATED IN Q1 Monthly, quarterly and yearly inflation measures showed disappointing progress towards the Reserve Bank of Australia’s...
AUSTRALIAN DOLLAR Q2 FUNDAMENTAL OUTLOOK The Australian Dollar has been weak against the US Dollar in recent years, including 2024. However, there may be some positive news for Australian currency bulls, mainly due to weakness in the US Dollar rather than strong economic performance in Australia. Rising US interest rates and the safe-haven status of the Greenback...
EURUSD pushed higher on Thursday after bouncing off technical support at 1.0725, with prices challenging a key ceiling near 1.0790, where the 50-day and 200-day simple moving averages intersect. If this barrier fails to contain buyers, the next stop is likely to be trendline resistance at 1.0810. On further strength, we could see a move towards a major Fibonacci...
OANDA:XAUUSD jumped as weak US initial jobless claims data and dovish comments from Federal Reserve officials weighed on the US dollar, along with tensions. New tensions in the Middle East attract risk haven demand. Data released by the United States on Thursday showed that the number of people applying for unemployment benefits increased by 22,000 in the week...
Gold prices surged to a three-week high of $2,375 an ounce on Friday due to weak U.S. economic data. The University of Michigan's preliminary May consumer confidence index fell to 67.4, lower than expectations. Additionally, there was an unexpected increase in initial jobless claims, reaching the highest level since last August. Investors are now awaiting next...
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...
The story in financial markets focuses on when the Federal Reserve will begin easing policy after releasing weak economic data. The U.S. Department of Labor said that nonfarm payroll employment in April was 175,000, lower than expected and lower than March's upwardly revised figure of 315,000. After the data was released, the CME FedWatch tool showed that the...
Scarce U.S. economic data will keep investors focused on Federal Reserve officials in the week following last Friday's U.S. jobs report. Gold prices are trading around 2,312USD/oz after reaching a daily high yesterday of 2,321USD/oz. The story in financial markets focuses on when the Federal Reserve will begin easing policy after releasing weak economic...
Risk appetite improved as bets increased that the Federal Reserve could begin easing policy sooner than expected. This comes after Friday's nonfarm payrolls report showed the economy continued to create jobs, albeit at a slower pace. Basic support for OANDA:XAUUSD Market participants continue to digest the latest data from the United States as the April...
After the release of US non-farm payrolls (NFP) data lower than market expectations, gold quickly increased in price, reaching 2,320 USD/ounce. However, this high level did not last long due to profit-taking pressure and gold quickly fell to close weekly at 2,301 USD/ounce. Although the easing cycle may be delayed, Federal Reserve Chairman Jerome Powell has made...
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...
After the Federal Reserve kept interest rates unchanged for the sixth time and announced it would slow down the pace of balance sheet shrinkage, gold prices rose sharply above the $2,300/ounce mark and remained above this key price level. , and also achieved the target adjusted increase in publishing the previous issue sent to you. Market news and reviews The...
OANDA:XAUUSD is still trying to operate above its $2,300 base price after Thursday's wild swings, with the market focusing particularly on non-farm payrolls data to be released on this trading day. ADP jobs data exceeded expectations in April and March data was revised upward, suggesting the US labor market remains strong and stable. The US ADP jobs report...
OANDA:XAUUSD spot faced strong selling pressure and fell to a one-week low ahead of the Federal Reserve meeting. The Conference Board's consumer confidence index fell for the third straight month in April, falling to 97.0 from a downwardly revised 103.1 in March. Pessimism prevails ahead of the Federal Reserve's monetary policy announcement scheduled for...
EURO ( OANDA:EURUSD ) ANALYSIS - Flash PMI data provides unflattering US outlook, Europe improves - EURUSD rises after US PMI shock FLASH PMI DATA PROVIDES UNFLATTERING US OUTLOOK, EUROPE IMPROVES German and EU manufacturing remains depressed but encouraging rises in flash services PMI results suggest improvement in Europe. UK manufacturing slumped well...