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...
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...
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...
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...
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...
BULLISH US DOLLAR FORECAST OANDA:EURUSD - The mighty dollar is back as CPI data impacts policy paths - EURUSD at risk after the ECB laid out the conditions for lowering rates THE MIGHTY DOLLAR IS BACK AS CPI DATA IMPACTS POLICY PATHS The US dollar is back in the FX market following strong CPI data, leading to a reevaluation of the world's reserve...
At the latest policy meeting, the ECB decided to keep interest rates unchanged but left no doubt about its intention to move to more easing. The guidance prompted traders to increase bets that the organization led by Christine Lagarde will launch an easing campaign at the next monetary policy meeting in June. The prospect of the ECB being ahead of the Fed on...
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...
EURUSD trended lower on Thursday after an unsuccessful attempt to clear the resistance at 1.0725, with prices moving back towards the 1.0700 handle. Traders should closely monitor this support area in the coming days, as a break below it could trigger a pullback towards 1.0645 and potentially even 1.0600. In the event of a bullish reversal from current levels,...
After a subdued performance late last week, the EUR/USD bounced back on Monday, challenging overhead resistance at 1.0725. A successful clearance of this technical barrier could pave the way for a move towards 1.0755. Further strength from this point onwards would shift focus to the 1.0800 handle, where the 50-day and 200-day simple moving averages converge. In...
Market attention turns to the Federal Reserve's monetary policy decision on May 1 and upcoming nonfarm payrolls data. Data released last week showed US gross domestic product fell short of target, while the core personal consumption expenditures (PCE) price index, the Fed's preferred inflation measure, stagnated at growth of 2.8% year-on-year for the second...
OANDA:XAUUSD market could see more volatility next week on news from the Federal Reserve and is expected to signal that it will not be ready to cut interest rates in June. Although expectations of loosening policy by the US Federal Reserve are fading, gold prices have also increased about 17% since February this year. Gold's strong performance is linked to...
US DOLLAR FORECAST – OANDA:GBPUSD - U.S. dollar displays rangebound behavior ahead of high-impact events on Friday - US PCE data and Powell’s speech on Friday will be key for markets - Thinner liquidity conditions are expected later in the week because of a bank holiday The U.S. dollar, as measured by the DXY index, moved within a narrow range on Tuesday,...
GBPUSD also edged down on Thursday, but managed to stabilize around the 1.2515/1.2500 range. Bulls must strive to maintain prices above this support region to prevent sentiment towards the pound from deteriorating; otherwise, sellers could seize the opportunity to launch a bearish assault on 1.2430. On the other hand, if buyers make a new appearance and propel...
The US Dollar Index is entering accumulation and recovering after 2 days of decline, making gold priced in US Dollars less attractive thanks to direct correlation. The near-term appeal of the precious metal remains weak as tensions in the Middle East ease and safe-haven demand weakens. The gold market has been less affected by the escalating conflict in the...
US GDP data for the first quarter of 2024 was lower than expected, increasing speculation that the Federal Reserve may reduce borrowing costs. However, inflation has risen sharply over the same period, which will delay the Fed's interest rate cuts. The U.S. Bureau of Economic Analysis reported on Thursday that U.S. gross domestic product (GDP) grew 1.6%...
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...