Andrew-Trading

Andrew-Trading Updated 

Gold prices surged to near daily highs and reached the highest level in three weeks after the US inflation report revealed slightly more difficulty than market expectations. In the latest update, August gold rose by $16 to $1,953. US data for the week showed that consumer price index for June rose by 3.0% compared to the same period last year, slightly lower...

Andrew-Trading Updated 

Gold market rises as US labor market weakens, with fewer jobs created than expected last month. According to the Bureau of Labor Statistics, non-farm payrolls in the US increased by 209 in June, slightly lower than the market consensus of around 224,000. The US unemployment rate decreased as expected to 3.6%, down from May's 3.7%. Gold market sees modest increase...

Andrew-Trading Updated 

Gold prices started the new week with an increase on Friday as the US dollar weakened. Despite high bond yields, the US dollar continued to weaken, with the 10-year Treasury yield at 4.10%, well above the low of 3.25% seen in April. Sensitive to policy changes, the 2-year bond yield reached over 5.10% last Thursday, the highest in 16 years, before dropping to...

Andrew-Trading Updated 

Gold prices slightly declined in the US midday trading session on Monday. The market was calmer and more peaceful at the start of the week, allowing traders to rely on price charts and technical indicators, which still indicate an overall short-term downward trend for gold. However, it has been a positive week for US economic reports, including key inflation data...

Andrew-Trading Updated 

Gold prices in the Asian session rose as investors analyzed comments from the Federal Reserve and declining Treasury yields. Key figures included Michael Barr, Vice Chair for Supervision, and Cleveland Federal Reserve President Loretta Mester, who mentioned that more rate hikes may be needed. However, Atlanta Federal Reserve President Raphael Bostic offered a...

Andrew-Trading Updated 

It’s no surprise that gold was at a technical inflection point just ahead of the CPI data this morning. The below 4-hour chart shows the price hitting the top of the channel I have been showing for quite some time. A breakout to the topside would reinforce the notion that gold is set to move higher in the medium term and maybe a signal to add to positions for...

Andrew-Trading

OANDA:EURUSD The euro has recovered after a period of economic instability, which put pressure on and limited its recovery. The optimism about the eurozone's economy at the beginning of the year is fading due to disappointing economic data. Experts are warning that the slow growth in the eurozone could continue for several years. However, the latest ADP...

Andrew-Trading

Gold prices fell on Thursday, extending losses from the previous session, as interest rates rose in both Europe and the US. This decrease was due to adjustments in central bank monetary policies. In the afternoon trading session, XAU/USD dropped by around 0.3% to $1,910. US yields surged, with the 2-year benchmark surpassing 5.0% and the 10-year benchmark rising...

Andrew-Trading Updated 

Gold prices rebounded in European trading as the US Independence Day holiday put pressure on the US dollar. However, as the US trading session approached, prices could face difficulties due to low liquidity with the FOMC and NFP reports still to come this week. The probability of a 25 basis point interest rate hike from the Fed in July has increased to 86.2%, up...

Andrew-Trading Updated 

Last week, international gold prices dropped from $1,933 to $1,892, before recovering and closing at $1,919. The continued decrease in gold prices is due to central banks tightening monetary policies. During a recent group discussion, European Central Bank President Christine Lagarde, Bank of England Governor Andrew Bailey, and Federal Reserve Chair Jerome...

Andrew-Trading Updated 

The gold price has steadied going into Tuesday’s trading session as markets appear somewhat lacklustre with the US out for a holiday. Treasury yields have held onto the gains seen going into the end of last week with the benchmark 10-year bond trading near 3.85%. The policy-sensitive 2-year note is back above 4.90% as markets await the Fed meeting minutes that...

Andrew-Trading Updated 

Gold prices dipped due to the strength of the US dollar, influenced by Jerome Powell's hawkish remarks at a central banking forum. By late afternoon, XAU/USD was down 0.15% at $1,910, nearing its lowest point since March 15. It is expected to end the month with a decline of over 2.5%. During a panel discussion in Sintra, Powell expressed concerns that the bank's...

Andrew-Trading Updated 

Gold prices hit a session low due to increased consumer optimism in the US in June. The Conference Board reported that their consumer confidence index rose to 109.7 this month, surpassing expectations of around 103.9. This optimism is at its highest level in 1.5 years, despite ongoing concerns about an economic recession. The gold market experienced selling...

Andrew-Trading

GBP/USD experienced a shift in direction after recovering on Tuesday and dropped towards 1.2700 during the morning hours in Europe on Wednesday. The technical analysis suggests a bearish trend, and if the support at 1.2700 fails to hold, more sellers could enter the market. The improvement in risk sentiment led to a weakening of the US Dollar against its major...

Andrew-Trading Updated 

Gold reaches lowest level in 3.5 months in US trading on Wednesday. Traders are focusing on precious metal charts due to lack of fundamental news impacting the market. August gold fell $8.3 to $1,915. Federal Reserve Chairman Jerome Powell stated that raising interest rates in consecutive monetary policy meetings is not off the table, following a lack of action...

Andrew-Trading Updated 

The overall macro picture still relates interest rates to the strength of the US Dollar and other major currencies. Here's a summary and evaluation of news and economic market data to start the last trading week of June. General macro picture ( TVC:DXY ) US business activity hit a three-month low in June, with slowing growth in the service sector and deepening...

Andrew-Trading Updated 

Fed Chair Powell's testimony last week did little to convince the market that interest rates could increase further in the future. He stated that it was a "reasonable prediction" that US interest rates would rise as inflation pressures continue to increase. The ongoing battle between an aggressive Fed and a market worried about an impending recession will continue...

Andrew-Trading Updated 

Gold prices fell below a key support level on Thursday, indicating that the upward pressure on prices has diminished. This is due to the central bank's hawkish comments and improved risk sentiment, reducing the appeal of the safe-haven metal. XAU/USD dropped below $1,930, including its lowest level in late May, which was highlighted as a risk in the Thursday...