Gold prices fell slightly on Monday, recording the second consecutive decline as the improvement in investors' sentiment diminishes the demand for safe-haven assets. The spot, XAU/USD, struggles to hold on to the $1,850 area after scoring a high of $1,857 during the European session. On Monday, Beijing announced the relaxation of Covid-related restrictions...
The EUR/USD pair pulled back on Friday and is poised to post the first weekly loss following two consecutive gains, on the back of better-than-expected Nonfarm payrolls data and the unremitting advance of Treasury yields. The EUR/USD spiked to a three-day high of 1.0764 in the immediate aftermath of the U.S. employment report but quickly pulled back to the 1.0720...
Gold prices are rising for the second day in a row on Thursday, with the spot XAU/USD climbing more than 1% and reaching a nine-day high of $1,869 following the release of weaker-than-expected U.S. employment data. ADP data showed that the U.S. economy added 128,000 new private jobs in May, missing by far expectations of a 300,000 gain. This figure is...
The EUR/USD pair is retreating for the second day in a row on Wednesday as the greenback continues to gather pace across the board after the long weekend in the United States. The dollar has strengthened over the last sessions, supported by higher U.S. yields along the curve, pushing the EUR/USD from a one-month high of 1.0787 struck on Monday to a low of 1.0651...
The EUR/USD pair started the week on the right foot, recording its third consecutive daily gain, underpinned by the dollar's pullback across the board. The euro posted a fresh five-week high at 1.0780 and remains close to that level at the start of the American session. The dollar, measured by the DXY index, posted its lowest level since April 25 at 101.35 on...
The EUR/USD pair is correcting lower on Friday after posting its highest level in a month at 1.0765 during the European session. The euro failed to sustain the bullish momentum above the 1.0750 resistance area and it is currently trading around 1.0710-20. Still, the shared currency is poised to record a 1.4% weekly gain, the second in a row, extending its bounce...
The EUR/USD pair advanced on Thursday, reversing the previous day's pullback amid rising stocks and despite the increase in Treasury yields. The risk-on mood prevailed, keeping the dollar under pressure and favoring a retest of the 1.0730 area. The dollar came under mild pressure following the release of the Federal Reserve's last meeting minutes on Wednesday....
Gold prices pulled back from two-week highs on Wednesday, snapping a four-day streak of gains, as the U.S. dollar recovers some ground across the board ahead of the Federal Reserve’s minutes release. XAU/USD erased Tuesday’s advance entirely, and it is trading just above $1,850 an ounce. Over the last months, it seems that gold has broken its inverse correlation...
The EUR/USD pair kept pushing higher on Tuesday, posting its highest level in a month at 1.0748 as the U.S. dollar continued correcting lower across the board, while European Central Bank officials advocated for aggressive rate hikes. After comments from President Christine Lagarde on Monday, other ECB members such as Martin Kazaks and Robert Holzmann hinted at a...
The EUR/USD pair pushed higher on Monday and struck a fresh one-month high as the dollar remained on the defensive amid a broader correction, while the shared currency benefited from hawkish comments from European Central Bank President Christine Lagarde. President Lagarde hinted at a probable rate hike in July while suggesting that rates could be in the positive...
The EUR/USD pair has managed to post a weekly gain even after Friday’s pullback amid broad dollar weakness despite the persistent risk-off mood in financial markets. The EUR/USD hit a two-week high of 1.0607 on Thursday, but failed to consolidate above the 1.0600 level and is on track to close around 1.0550, down 0.23% on the day but recording a 1.4% gain for the...
Gold prices gained upward momentum on Thursday after moving sideways over the last days, as U.S. yields pulled back and the dollar, measured by the DXY, loses more than 1% below 103.00. At the time of writing, spot gold, XAU/USD, trades at $1,842, up 1.4% from its opening price and posting a second straight day of gains. Concerns about global economic growth are...
The EUR/USD has come back under pressure on Wednesday as risk aversion struck financial markets on renewed concerns about ramping inflation and prospects of a stagflation case developing in the Eurozone. The pair pulled back from a weekly high of 1.0563 to a low of 1.0462 after the European Union reported April's CPI figures. Consumer inflation reached 7.4%,...
The EUR/USD pair gained bullish momentum on Tuesday and pushed to fresh six-day highs, propelled by improving sentiment in financial markets. The U.S. dollar weakened across the board as stocks advanced in Europe and Wall Street, helping the EUR/USD to extend its bounce from a five-year low of 1.0348 struck on Friday to a high of 1.0555 on Tuesday. The pair is...
Gold price fell to a four-month low at the beginning of the trading week, with spot XAU/USD bottoming out at $1,786 an ounce as weaker-than-expected Chinese data weighed on investors’ sentiment and boosted the greenback across the board. However, the yellow metal managed to recover above the $1,800 level and closed Monday with gains at the $1,825 area as market...
The EUR/USD pair managed to recover from fresh five-year lows and regained the 1.0400 mark, helped by the improvement in market sentiment. The euro fell to its lowest level since January 2017 at 1.0348 on Friday but trimmed losses as the dollar staged a correction across the board while US stock indexes rallied. Still, the EUR/USD is poised to record its lowest...
The EUR/USD pair finally broke below the 1.0400 psychological level on Thursday and posted its lowest level since January 2017 at 1.0353 during the New York session on broad dollar strength, with the DXY also hitting a fresh two-decade high at 104.92. The greenback benefited from safe-haven demand flows as the risk-off environment pushed down U.S. yields. The...
The EUR/USD pair advances modestly on Wednesday after taking a round-trip to the 1.0500 area on the back of higher-than-expected U.S. CPI data. On Wednesday, data showed U.S. Consumer Price Index rose by 8.3% over the year to April, above the 8.1% expected. Excluding food and energy, the CPI grew by 6.2%, also above the 6.0% forecasted by analysts. Still, both...