Gold prices showcased an impressive rally, primarily propelled by mounting geopolitical tensions in the Middle East and the optimism surrounding the Federal Reserve's (Fed) decision to refrain from further interest rate hikes this year. The precious metal exhibited remarkable resilience, bouncing back swiftly from a knee-jerk reaction triggered by the United...
According to recent data from the UK's National Statistics, the second-quarter Gross Domestic Product (GDP) registered a 0.2% QoQ growth, aligning with the initial estimate and continuing the trend from the previous reading. Dive deep into the market dynamics as late-week price action propelled Cable back to the opening levels of the previous week, hovering around...
In the world of precious metals, gold is facing a delicate balancing act. Recent economic data from the United States has added a layer of complexity to the gold market. The ISM Manufacturing PMI for August surprised many by exceeding expectations, while the U.S. jobless rate edged up to 3.8% while the NFP data slightly surpassed predictions. Wage growth, though...
In Japan, the Bank of Japan's Governor Kazuo Ueda highlighted that underlying inflation remains slightly below the 2% target during a Federal Reserve research symposium. This observation reaffirms the central bank's commitment to maintaining the current monetary policy approach. Despite core consumer inflation in Japan hitting 3.1% in July, companies passing on...
Hello Traders and Investors , my name is Philip and today I will provide a free and educational multi-timeframe technical analysis of Ethereum 💪 If we are looking at the macro view on the monthly timeframe you can see that Ethereum perfectly retested the 0.768 fibonacci level in confluence with the previous cycle high so everything looks like we are...
The USDJPY landscape is a complex interplay of monetary policy divergence between the US and Japan, actively influencing the Yen's weakening. Yet, optimism surrounding the peak of US interest rates introduces an intriguing caveat to the Greenback's ascent. Federal Reserve minutes unveiled this week emphasize a consensus among committee members about "significant...
In the current scenario, the gold price shows underlying support, but a confident reversal necessitates navigating several crucial filters. Currently, XAUUSD faces selling pressure due to a higher-than-expected US Producer Price Index (PPI) and modest Consumer Price Index (CPI) rise in July. While a recovery attempt has been made, uncertainty persists due to...
Hello Traders and Investors , my name is Philip and today I will provide a free and educational multi-timeframe technical analysis of Gold 💪 Looking at the overall picture you can see that Gold retested the previous all time high which was roughly at the $2060 level and from there just once again rejected towards the downside. With this week's candle it...
In July, we witnessed a remarkable surge, with oil prices soaring over 14%, marking the most substantial monthly percentage increase since January last year. A perfect blend of tighter supply and surging demand triumphed over concerns about potential interest rate hikes and lingering inflation, igniting economic growth prospects. Adding to the excitement for...
The USDJPY market sentiment is undergoing a captivating transformation, edging from neutral to bearish, with intriguing signs of bullish exhaustion surfacing. The Japanese currency is on the rise, gaining traction as Bank of Japan (BoJ) comments reveal plans to widen the benchmark 10-year Japanese Government Bonds (JGB) from 0.5% to 1.0%. This move has propelled...
The precious metal appeared to find strong support, hovering above the crucial $1,930.00 level for most of Wednesday and Thursday. However, things took a thrilling turn after the Non-Farm Payroll data release, as Gold broke out of the $1,993.8 level, setting the stage for a potential reversal ahead. The US Dollar is currently facing headwinds, thanks to a...
Exciting times are ahead for the Pound Sterling as it makes a strong recovery during the second half of the previous week, soaring near 1.27800! The market sentiment is on the rise, and the Bank of England (BoE) is signaling a hawkish stance on interest rates, giving the GBPUSD pair even more room to climb higher. The recent interest rate decision saw a 25 basis...
Hello Traders and Investors , my name is Philip and today I will provide a free and educational multi-timeframe technical analysis of Ethereum 💪 If we are looking at the macro view on the monthly timeframe you can see that Ethereum perfectly retested the 0.768 fibonacci level in confluence with the previous cycle high so everything looks like we are...
The yellow metal is potentially heading for weekly losses amid a surge in the US dollar's strength. Despite a slight relief on Friday, gold had been grappling with significant losses from the previous session when data revealed that the US economy outperformed expectations in the second quarter. This impressive reading bolstered the dollar and pushed gold over 1%...
The BOJ's decision to adopt a more flexible bond yield approach indicates a potential shift away from its ultra-dovish stance. Under this approach, bond yields will be allowed to fluctuate beyond the previous target range. The economic landscape was further impacted by surprising data on Friday, indicating that inflation in Japan's capital exceeded expectations...
The GBPUSD pair faced downward pressure last week due to a dampened economic outlook caused by the Bank of England's aggressive policy amid fears of a recession. Despite this, overall sentiment for Pound Sterling remains bullish, as the UK central bank may consider more interest-rate hikes to tackle inflation. In June, UK's Consumer Price Index (CPI) softened to...
Prepare yourself for a thrilling week ahead as all eyes are fixated on the much-anticipated interest rate decision by the Fed. The question on every trader's mind is, will the Fed signal an end to this year's rate hikes? And if they do, brace yourself, because oil could be on the brink of a momentous breakthrough, turning that elusive $80 per barrel from...
The Japanese economic docket reveals that consumer price index (CPI) inflation remained stubbornly high through June, despite government measures to curb prices. This has raised the possibility of the Bank of Japan (BOJ) tightening monetary policy. However, BOJ policymakers are cautious and prefer to analyze more data to ensure sustained growth in wages and...