Gold Prices Rise on Lower Rate Expectations and Chinese Demand
The Gold price (XAU/USD) climbed nearly 1% on Monday, reaching the $2,320s. This increase comes as investors assess the impact of weaker-than-expected US jobs data on future interest rates. Technical Analysis: Gold Price in a Holding Pattern
Gold Rally Fizzles Out After Strong US Jobs Data Ignites Risk Appetite
The Gold price (XAU/USD) initially surged on Friday after weaker-than-expected Nonfarm Payrolls data, but then gave up all its gains and ended the day lower. Key Points from NFP Report: Impact on US Dollar and Gold:
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Silver Loses Steam Ahead of Key US Data Releases
The Silver price (XAG/USD) retreated from its attempt to reclaim the $27.00 resistance level on Thursday, dropping back to $26.20. Technical Analysis: Uncertain Near-Term Outlook
Gold Inches Up as US Manufacturing PMI Disappoints, Fed in Focus
The Gold price (XAU/USD) bounced back slightly above $2,300 on Wednesday, reacting to a weaker-than-expected US Manufacturing PMI report. Technical Analysis: Bearish Bias Persists Overall, the future direction of Gold hinges on the outcome of the Fed meeting and its impact on interest rates.
Mexican Peso Slips on Slower GDP Growth
The Mexican Peso (MXN) depreciated slightly following the release of preliminary GDP data for Q1 2024. GDP Growth Slows, But Stays Positive Lower Rates Expected, Peso Weakens Technical Analysis: USD/MXN Rangebound with Downward Bias Breakout Watch Confirmation of a breakout requires:
Euro Loses Steam as Strong US Data Boosts Dollar
The Euro (EUR) gave up earlier gains against the US Dollar (USD) on Tuesday, falling back to the key support level of 1.0700. This reversal comes despite positive Eurozone data, as strong US wage growth raised concerns about persistent inflation. US Employment Cost Index Fuels Dollar The US Bureau of Labor Statistics reported a higher-than-expected […]
EUR/USD Pauses Before Data Deluge, Eyes on ECB Policy
The Euro (EUR) struggles to gain traction above the key resistance level of 1.0700 against the US Dollar (USD) on Monday. The currency pair awaits a data-heavy week in both the Eurozone and the US, which could influence future central bank decisions. Eurozone Data in Focus: Rate Cuts on the Horizon? The Eurozone will release […]
US Dollar Gains Post-PCE Release, Stagflation Fears Loom
The US Dollar (USD) demonstrates strength ahead of the week’s final economic data releases, bouncing back after Thursday’s volatile reaction to the Q1 GDP figures. While the initial surge fueled by high Personal Consumption Expenditure (PCE) numbers hinted at delayed interest rate cuts, further analysis led to a risk-on shift as stagflation fears took hold. […]
EUR/JPY Surges to 16-Year High, Eyes 167.00 on USD Strength
The Euro surges to a near 16-year high against the Japanese Yen, reaching levels unseen since August 2008. This rally mirrors the recent strength in USD/JPY, driven by strong US economic data. EUR/JPY currently trades at 166.67, showing significant gains for the day. Key Factors: Technical Analysis: Eyes Next Target at 167.00