BoJ Surprise, Fed Signal: The unexpected rate hike by the Bank of Japan (BoJ) surprised the foreign exchange (FX) world on Wednesday. The Fed left its policy rate unchanged but signaled a potential rate cut in September.Upcoming Events:Bank of England (BoE) decision: Odds are split regarding a probable rate reduction. …
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Gold prices continue to fluctuate within a narrow range, bounded by the support level at 2366 and the resistance level at 2394. From a technical analysis standpoint, the simple moving averages are acting as resistance, while trading remains below the key resistance level of 2394. This bearish sentiment is further …
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In the previous report, we maintained a neutral stance due to conflicting technical signals, noting that stability above the 2410 resistance level might lead gold prices to target 2426 and 2438. Gold prices reached 2432, achieving the first target. Today, from a technical perspective, gold prices have rapidly declined after …
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The USD Index (DXY) retreated slightly as the Japanese yen strengthened and US Treasury yields displayed mixed movement. The upcoming release of Q2 Growth Rate data, Durable Goods Orders, and Initial Jobless Claims on July 25 will be closely watched. Forex Space The Japanese yen’s continued appreciation pressured the US …
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Gold prices started today’s trading session with noticeable positivity after finding strong support near 2388, prompting an upward bounce. Currently, the price is stable around 2416. From a technical analysis standpoint, the 240-minute chart indicates that the price has stabilized above the 2410 resistance level, aligned with the 38.20% Fibonacci …
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Despite a little decline in US Treasury yields, the USD Index saw some gains and returned to the 104.50 region. The preliminary S&P Global Manufacturing and Services PMIs and advanced goods trade balance are due on July 24, with new home sales coming in second. In addition to continuing Monday’s …
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Gold prices have risen above $2,400, ending a four-day losing streak due to falling US Treasury yields. Market players are awaiting crucial economic data, including June’s inflation and Q2 GDP, to gauge the Fed’s next move. India’s import tax cut on gold and silver has also boosted retail demand, supporting …
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Gold prices have experienced a downward trend, retreating from the recent historical peak of $2483. The technical outlook suggests a continuation of this corrective movement. Technical Outlook: On the 4-hour chart, the simple moving averages (SMAs) have formed a negative crossover, indicating increased selling pressure. Moreover, the price remains below …
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Gold prices reached new historical highs in the previous trading session, surpassing our target of 2450 and reaching a peak of $2483 per ounce, validating our bullish outlook. Technical Outlook: The technical outlook remains strongly bullish. The price has successfully consolidated above the previously breached resistance level of 2450, which …
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The US Dollar declined to new four-month lows due to additional foreign exchange (FX) intervention by the Bank of Japan (BoJ), stronger expectations of rate cuts, and improved sentiment in risk-related assets.On Thursday, the European Central Bank (ECB) is likely to keep its policy rates unchanged, with investors closely monitoring …
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