Gold's recent performance faced an unexpected twist, challenging the notion that a Fed rate pause could be its ticket to a breakout. Instead, the precious metal found itself in the shadow of its formidable rival, the US dollar. The preceding week had seen gold bask in the glory of the US non-farm payrolls report for August. Despite an employment gain of 187,000...
Welcome, traders, to another exciting episode of my weekly price action-based technical analysis series, dedicated to unraveling the intricacies of the GBPUSD market. The Bank of England (BoE) gears up for its 15th consecutive interest rate hike on September 21st. Join us as we dissect the implications of this development on price action! August witnessed a...
In a fresh turn of events, USDJPY surged to new intraday highs on Friday, but the question remains: Can it sustain its four-week uptrend? Meanwhile, Japan's economic output hit levels above full capacity in April-June for the first time in nearly four years, raising questions about the possibility of a shift in ultra-low interest rate policy. Adding to the...
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...
Gold prices experienced a minor retreat on Friday, with traders displaying a preference for the dollar, anticipating insights on U.S. monetary policy from the ongoing Jackson Hole Symposium. Despite signs of economic softness, gold managed to hold above the pivotal $1,900 per ounce level. However, the path ahead for the precious metal remains uncertain due to the...
Explore the GBPUSD landscape as it maintains its optimistic stance above $1.2710 market, driven by robust UK inflation data. The Pound Sterling gains strength from this report and the potential for further interest rate adjustments by the Bank of England (BoE). With core CPI data raising inflation concerns within the UK economy, the BoE might opt for more...
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...
Welcome back to another episode where we dive deep into the dynamic world of Gold. The bulls' recent positive traction lifted Gold's price on Friday; Breaking a four-day losing streak, it surged from its lowest point since March, hovering above the pivotal $1,885 zone. Adding to the intrigue, the US macro data paints a portrait of an exceptionally resilient...
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...
Amidst Uncertainties, Cable Market Grapples Despite U.K. Economy's 0.2% Growth In a twist against expectations for a flat reading, the U.K. economy witnessed a 0.2% growth in the second quarter, bolstered by a 0.5% monthly increase in June. However, lingering inflation concerns loom, potentially restraining future growth with the looming possibility of further...
In light of recent data, Thursday's release indicated that U.S. consumer price index (CPI) inflation for July met expectations, mirroring the previous month's trajectory. This outcome has fueled speculation that the Federal Reserve will maintain its current interest rates in September. However, this development has concurrently prompted a reduction in expectations...
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 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...
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...
Welcome back to our weekly US Oil market analysis! Oil prices have been on a remarkable upward trend, extending their gains for a fifth consecutive week. The rally has been driven by perceptions that supply is increasingly tightening in comparison to demand, although recent US government petroleum data has only marginally supported this notion. Despite the...