Exness_Official

Exness_Official

XAUUSD rebounded slightly yesterday but failed to hold gains. However, it is good to note that also the pair didn't break below Wednesday's low. The pair seems to consolidate between 2580 and 2625. A break to the upside, could push the price towards a resistance of 2652, while on the downside, the price could visit the 2554 area.

Exness_Official

Currently, gold is trading around $2,658 (USD) per ounce, maintaining a stable range as market participants await the Federal Reserve's upcoming decision on interest rates. This period of uncertainty has led to a consolidation phase for gold, with key support levels identified around **$2,600**. If prices dip to this level, it could present an attractive buying...

Exness_Official

On the other hand, crude oil is currently trading below the critical threshold of $70.00, reflecting growing concerns over demand due to disappointing economic data from China. This decline has sparked fears of reduced consumption in one of the world's largest oil markets, prompting traders to reassess their outlook. The technical landscape for crude oil shows...

Exness_Official

British data on Friday 13 December were pretty roundly disappointing: monthly GDP for October, industry and manufacturing all contracted against expectations for growth. Current estimates suggest that the Bank of England (‘the BoE’) will hold rates on 19 December and cut only three times in 2025, so it’s moderately likely that the BoE will remain at least one...

Exness_Official

Traders have mostly discounted the latest single cut by the European Central Bank (‘the ECB’) since that was widely expected and the comments in the subsequent press conference didn’t give any significant new information. Inflation has also risen in the eurozone in the last two months but hasn’t reached as high as in the USA. The difference in rates between the...

Exness_Official

British data on Friday 13 December were pretty roundly disappointing: monthly GDP for October, industry and manufacturing all contracted against expectations for growth. Current estimates suggest that the Bank of England (‘the BoE’) will hold rates on 19 December and cut only three times in 2025, so it’s moderately likely that the BoE will remain at least one step...

Exness_Official

Traders have mostly discounted the latest single cut by the European Central Bank (‘the ECB’) since that was widely expected and the comments in the subsequent press conference didn’t give any significant new information. Inflation has also risen in the eurozone in the last two months but hasn’t reached as high as in the USA. The difference in rates between the...

Exness_Official

XAUUSD corrected to 2680 after briefly retesting the previous high, indicating a mean reversion before continuing its surge. If XAUUSD sustains above 2680, the price may continue consolidating before resuming an uptrend. On the contrary, if XAUUSD closes below 2664, the price may shift to a downtrend.

Exness_Official

¥155 remains the key support for EURJPY on the daily chart; however, the latest downward movement has paused before reaching that area. Participants have mostly discounted recent political instability in France since the government’s collapse had been widely expected. Meanwhile in monetary policy the European Central Bank is likely to cut the deposit facility rate...

Exness_Official

GBPJPY moved up after the latest test of ¥188 as it now appears unlikely that the Bank of England will cut rates this month although the Bank of Japan still seems to be on track to tighten policy in the near future. In a recent interview Andrew Bailey indicated that four cuts are likely next year; the difference in rates for pound-yen is unlikely to go below 3%...

Exness_Official

Gold prices were volatile in a tight range amid mixed US data and cautious Chair Powell's speech. Zimbabwe’s Nov gold production rose 53% YoY to 3,766 kg, reflecting increased supply following a period of high prices. However, JP Morgan calls for 3,000 USD per troy ounce target in 2025, but short-term volatility from political headlines remains XAUUSD...

Exness_Official

EURUSD consolidated within the ascending channel and fluctuated around the EMAs, indicating its sideways trend. If EURUSD breaks below the channel’s lower bound and the support at 1.0450, a further drop toward 1.0400 might occur. Conversely, if EURUSD sustains gains above 1.0450, the price could rise toward the resistance at 1.0600

Exness_Official

Crude oil prices have come off their earlier highs after starting the day brightly following some stronger-than-expected activity data out of China at the weekend. This could be a pivotal week for the crude oil market. With key US economic data on the horizon and the OPEC+ meeting later this week to discuss oil production targets, market participants are bracing...

Exness_Official

XAUUSD consolidated in 2620- 2666 while remaining near both parallel EMAs, indicating a sideways structure. However, the higher lows suggests an upward breakout. If XAUUSD consolidates further, the price may remain within the 2620-2666 range. Conversely, a breakout in any direction may indicate the next trend with an uptrend bias.

Exness_Official

US job openings, Australian GDP growth rate, US services PMI, Canadian unemployment rate, US job report Tuesday: US job openings is expected to be released at 15:00 GMT. The expectations are for an increase in the figure of around 50,000 jobs but this might not have a significant effect on the dollar since the data is for the month of October and also all eyes...

Exness_Official

Gold prices fell on Monday due to a stronger Dollar and profit-taking, while investors await key US economic data like the US services PMI and the job report, to gauge the federal reserve’s next steps on monetary policy. The Dollar index (DXY) strengthened, leading to gold price decline while markets anticipate a 65% chance of a 25-basis-points rate cut in...

Exness_Official

Crude oil prices rose due to positive factory output data from China and ongoing unrest in the Middle East. The OPEC+ meeting is expected to result in a delay of production cuts for next year, highlighting the challenge of balancing market support and maintaining market share.Traders are expecting OPEC+ to delay a production increase, with oil trading within a...

Exness_Official

Recent American data generally in line with expectations supported the impression that the Fed will continue to cut gradually, while the RBNZ’s double rather than triple cut on Wednesday also gave some support recently to NZDUSD. The selection of Scott Bessent as incoming American Treasury Secretary has somewhat decreased the likelihood of immediate large...