Fx_Jack17

Fx_Jack17

Gold price (XAU/USD) has executed a short-term recovery move in the midst of a persistent downtrend. Gold price printed a fresh monthly low near the psychological support of $2,000 on Wednesday, then bounced. Yet despite the rebound, the precious metal remains on the backfoot as investors continue to worry about when the Federal Reserve (Fed) will start its long...

Fx_Jack17

Gold price (XAU/USD) has extended its correction on Wednesday as a hawkish commentary from Federal Reserve (Fed) Governor Christopher Waller has casted doubts about a rate cut by the central bank in the March meeting. Fed policymakers have been favouring interest rates to remain higher for longer, defying market expectations, amid a lack of confidence in inflation...

Fx_Jack17

Gold price (XAU/USD) witnesses a sell-off after failing to reclaim the weekly high above $2,060. The precious metal drops as investors reconsider the timeframe in which the Federal Reserve (Fed) may reduce interest rates. This comes after the release of the sticky Consumer Price Index (CPI) report for December, as well as hawkish comments from European Central...

Fx_Jack17

Gold started the week under modest bearish pressure but managed to erase its losses ahead of the weekend. Investors still see a strong probability that the Federal Reserve (Fed) will opt for a rate cut in March, not allowing US bond yields to push higher and supporting XAU/USD. Next week’s calendar will not offer any high-tier data releases from the US, but...

Fx_Jack17

The gold market was moribund for the first half of the week, but contradictory U.S. CPI and PPI data pushed gold prices sharply down on Wednesday and back up on Thursday, while a sudden escalation of conflict in the Middle East on Thursday evening saw gold prices posting steady gains heading into the holiday weekend.

Fx_Jack17

Gold prices and the Nasdaq 100 could be at risk of a larger downward correction following the latest set of consumer price and unemployment claims figures released on Thursday. This means that new all-time highs for the precious metal and the technology index may have to wait a bit longer.

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The US Consumer Price Index is forecast to rise at an annual pace of 3.2% in December, a tad quicker than the 3.1% increase reported in November. The Core CPI inflation, which excludes volatile food and energy prices, is set to fall to 3.8% in the same period, compared with the previous growth of 4.0%.

Fx_Jack17

EUR/USD gained traction during the European trading hours on Thursday but struggled to extend its rebound in the second half of the day as rising US Treasury bond yields supported the US Dollar (USD). The pair stays on the back foot and trades in negative territory below 1.0950 as the market focus shifts to December jobs report from the US.

Fx_Jack17

Bitcoin (BTC) price has been bullish in 2023, scaling up as it tried to plough back the ground lost following the Terra (UST) and FTX crashes of the preceding year. The trajectory took shape in spite of it being an eventful year, with BTC riding the wave of macroeconomic as well as industry-related developments.

Fx_Jack17

Gold price continues with its struggle to gain any meaningful traction on Friday and remains confined in a narrow trading band below the $2,050 level in the early European session. Traders also seem reluctant to place aggressive bets ahead of the US monthly jobs report.

Fx_Jack17

Gold price (XAU/USD) dived to a one-and-half-week low on Wednesday in the wake of rising US Treasury bond yields and a stronger US Dollar (USD). The US bond yields, however, started losing traction after minutes of the December 12-13 FOMC meeting reflected a consensus among policymakers that inflation is under control and concerns about the downside risks to the...

Fx_Jack17 Updated 

Gold came under bearish pressure and declined below $2,040 in the American session on Wednesday. The benchmark 10-year US Treasury bond yield builds on Tuesday's rebound and pushes higher toward 4%, weighing on XAU/USD ahead of FOMC Minutes.

Fx_Jack17

Gold price (XAU/USD) attracts fresh buyers on the first trading day of 2024 and maintains its bid tone through the early part of the European session. The precious metal currently trades around the $2,075 region, up over 0.50% for the day, and remains well supported by rising bets that the Federal Reserve (Fed) will soon start cutting interest rates, as early as...

Fx_Jack17

On Thursday, Gold price enjoyed two-way businesses, initially refreshing a three-week top before reversing to settle below the $2,070 level. In the first half of the day, Gold price benefitted from a sustained weakness in the US Dollar and the US Treasury bond yields, as strong US bond auctions and increased dovish US Federal Reserve (Fed) rate cut expectations...

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Gold price is finding additional support, as the US Dollar meets fresh supply from a risk-on rally in the Asian stock markets. Investors cheer expectations of aggressive interest rate cuts by the US Federal Reserve (Fed) next year and pile up on global stocks. Further, China’s pledge to promote stable growth by expanding domestic demand combined with the People’s...

Fx_Jack17 Updated 

Gold price is catching a breather, as the US Dollar (USD) is finding its feet due to a cautious market mood, despite a sluggish performance seen in the US Treasury bond yields. Investors catch up on their trades, as well as, on the latest macroeconomic developments following the Christmas holiday break, keeping themselves away from any fresh directional bets.

Fx_Jack17

Gold price (XAU/USD) rises to a near three-week high, around the $2,055 region earlier this Friday, albeit struggles to capitalize on the move amid a modest US Dollar (USD) uptick. In fact, the USD Index (DXY), which tracks the Greenback against a basket of currencies, reverses a part of the previous day's slide to a near five-month trough touched in the aftermath...

Fx_Jack17

Gold (XAU/USD) stays in a consolidation phase at around $2,020 after having closed the previous week modestly higher. The benchmark 10-year US Treasury bond yield moves sideways below 4% to start the week and makes it difficult for XAU/USD to find direction.