JohnHarry_7

JohnHarry_7

The US Dollar Index, also known as DXY, is used by traders seeking a measure of the value of USD against a basket of currencies used by US trade partners. The index will rise if the Dollar strengthens against these currencies and will fall if the Dollar weakens against these currencies. Plan your technical analysis of the US Dollar Index by tracking its price in...

JohnHarry_7

Western Texas Intermediate, the US crude oil benchmark, is trading around $77.50 on Friday. WTI prices edge higher after the weaker-than-expected US Retail Sales data raise hope that the Federal Reserve will soon start cutting interest rates in coming months. WTI rebounds to $77.50 amid US dollar weakness, geopolitical risks R3 West Texas Intermediate (WTI)...

JohnHarry_7

Bitcoin (BTC) price action is showing strength and volatility after seven weeks of consolidation. The current weekly BTC candlestick has already registered a 9.30% gain and is likely to close on a positive note. BTC overcame $42,289, which is the midpoint of the last cycle’s bear market crash of 77%. Additionally, it has also flipped the $45,156 weekly resistance...

JohnHarry_7

The daily chart portrays the pair as neutral to downward biased, with the GBP/USD hovering around the 200-DMA at 1.2561. a daily close below the latter could open the door to challenge 1.2500, followed by the 100-DMA at 1.2487. Once cleared, that could open the door to test the next support level seen at 1.2374, November’s 17 low. Besides that, GBP/USD takes...

JohnHarry_7

Gold gathered recovery momentum and climbed above $2,000 in the American session on Thursday. The benchmark 10-year US Treasury bond yield is down more than 1% on the day following the mixed US data, helping XAU/USD stretch higher. On the flip side, any attempted recovery beyond the $2,000 mark now seems to confront stiff resistance near the $2,011-2,012 area....

JohnHarry_7 Updated 

The USD/JPY pair resumes its upward journey after a mild correction to near 150.40 in the European session on Wednesday. The asset rebounds as dismal market sentiment has improved the appeal of the US Dollar. USD/JPY is seeing a fresh selling wave, closing in on 150.00 in the Asian session on Thursday. The pair is tracking the US Treasury bond yields lower,...

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Crude Oil, commonly known as petroleum, is a naturally occurring fossil fuel liquid composed of hydrocarbon underground deposits and organic materials. The prices of this popular commodity are measured in USD. Saudi Arabia, Russia, United States, Iran and China are the countries producing more oil. On the other hand, United States, China, Japan, Russia, and...

JohnHarry_7

GBP/USD lost its traction and declined to its lowest level in over a week near 1.2550 after soft UK inflation data on Wednesday. BoE Governor Bailey said that the inflation data did not really change their view on the outlook from February policy decision. In the meantime, the UK's FTSE 100 Index opened higher on Wednesday and US stock index futures turned...

JohnHarry_7 Updated 

Gold prices (XAU/USD) plunged and reached their weakest point in two months on Tuesday after higher-than-anticipated U.S. CPI data sparked a hawkish repricing of Fed interest rate expectations, boosting U.S. Treasury yields and the U.S. dollar across the board. With progress on disinflation stalling, the U.S. central bank may delay the start of its easing cycle...

JohnHarry_7

Gold price reverses from a two-week low around $2,012 as geopolitical uncertainty improves appeal for safe-haven assets. The precious metal witnesses strong demand in the London session but is expected to face volatility as the US CPI data is set to release.

JohnHarry_7 Updated 

Following a quiet opening to the week, Gold came under modest bearish pressure in the American session on Monday and retreated below $2,020. The benchmark 10-year US T-bond yield holds comfortably above 4.1%, not allowing XAU/USD to gain traction.

JohnHarry_7 Updated 

Gold retreated below $2,030 after spiking toward $2,040 with the immediate reaction to US inflation revisions. The benchmark 10-year US Treasury bond yield holds comfortably above 4.1%, making it difficult for XAU/USD to gain traction.

JohnHarry_7 Updated 

GBP/USD continues to fluctuate above 1.2600 on Friday as the US Dollar finds it difficult to stay resilient against its major rivals. The data from the US showed that the monthly CPI increase for December got revised lower to 0.2% from 0.3%.

JohnHarry_7

Gold prices are modestly down and silver prices slightly up in lackluster early U.S. trading Friday. Thursday’s surprising deflation news coming out of China is still a bearish weight on the metals markets to end the trading week. The U.S. stock indexes at record highs are also a negative element for the safe-haven metals. April gold was last down $3.40 at...

JohnHarry_7 Updated 

The gold market continues to struggle with solid selling pressure as activity in the U.S. labor market remains relatively unchanged from last week. Thursday, the U.S. Labor Department said that weekly jobless claims fell by 9,000 to 218,000 during the week ending Feb. 3, down from the previous week's revised estimate of 224,000 claims.

JohnHarry_7 Updated 

Gold and silver prices are seeing mild losses in early U.S. trading Wednesday. It’s a quieter marketplace at mid-week, with no new fundamental developments to significantly influence the markets. Risk appetite in the general marketplace is not robust, but neither is risk aversion keen. That’s keeping the safe-haven metals traders squelched at present. April gold...