AUD/USD remains above support at the 0.7000 zone for now, although it is still substantially lower on the day. Global stocks and economic growth-sensitive commodities are under pressure on Monday, weighing on the risk-sensitive Australian dollar/commodities. US CPI will be the key event of the week for the pair. Slightly better than expected, Chinese trade […]
Tag: Commodities
Silver Price Analysis: XAG/USD slides to new yearly lows below $22.00
Silver extends its recent downtrend and falls to a new yearly low on Monday. A break below the $22.00 level could be a new trigger for the bears. The oversold of the RSI (14) on the daily chart warrants some caution before opening new positions. Silver (XAG/USD) has seen selling for the third day in […]
Forex Today: The dollar benefits from risk aversion at the beginning of the week
This is what you need to know to trade today Monday May 9: The risk aversion is helping the US dollar find demand as a safe haven at the start of the new week and the DXY dollar index is trading at its highest level since November 2002 above 104.00. Sentix investor confidence data will […]
XAU/USD stable around the $1,975 region before the NFP
Gold remains on the defensive during the European session on Friday amid aggressive expectations from the Fed. The underlying bullish sentiment around the USD weighs on the precious metal. A softer risk tone offers some support as investors await the release of the US NFP jobs report. The Prayed reversed modest intraday losses and is […]
The dollar returns with bad intentions, focus on the NFP
This is what you need to know to trade today friday may 6: Following the downward correction seen after the Fed’s monetary policy announcement on Wednesday night, the US dollar index DXY rose on Thursday and hit its highest level since December 2002 at 103.94. The 10-year US Treasury bond yield rose more than 3% […]
XAUUSD Looks Vulnerable Near Multi-Month Lows Before FOMC
A combination of factors sparks fresh selling around gold on Wednesday. Expectations of an aggressive Fed rate hike and elevated US bond yields act as a headwind for the yellow metal. A positive risk tone and a bullish zUSD also contribute to the intraday sell bias. Attention remains on the expected FOMC monetary policy decision. […]
Markets brace for first 0.50% Fed rate hike since 2000
This is what you need to know to trade today Wednesday May 4: After choppy action on Tuesday, markets remain calm on Wednesday as investors move on the sidelines ahead of the US Federal Reserve’s monetary policy announcement. The US dollar DXY index continues to move sideways near 103.50 and the 10-year US Treasury yield […]
XAU/USD Attacks $1,850 Amid Firmer Yields, Focus Shifts to Fed
Gold price remains strong amid firmer yields, ignores USD correction. Treasury bond yields remain at three-year highs on aggressive Fed expectations. US factory orders and JOLTS job openings could provide further momentum. The price of gold (XAU/USD) does it move near fresh three-month lows just above the $1,850 levelwhile sellers remain in control despite the […]
Focus is on mid-tier data ahead of key central bank meetings
This is what you need to know to trade today tuesday may 3: Markets remain relatively calm on Tuesday as investors refrain from making big bets ahead of Federal Reserve and Bank of England (BoE) monetary policy announcements later in the week. The 10-year US Treasury bond yield continues to move sideways near 3% and […]
XAG/USD plunges to multi-month lows, quickly approaching $22.00
Silver sees strong continuation selling on Monday and falls to a near three-month low. Last week’s break below the 200-day SMA and uptrend line is seen as a key trigger for the bears. The extremely oversold RSI makes it prudent to wait for some consolidation before the next move lower. Silver (XAG/USD) extends a three-week […]
