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Euro clings to daily gains around 1.1000
Euro looks well bid around 1.1000 against the US Dollar. Stocks in Europe ended the week mostly on the defensive. EUR/USD bounces off three-week lows near 1.0940. Advanced CPI in Germany rose 6.2% YoY in July. US headline, Core PCE rose at a slower pace in...
Gold (XAU/USD) Price Slumps After Better-Than-Expected US Growth Revealed
Strong US economic data send gold spinning lower. Friday’s Core PCE data will be key for gold going into the weekend. Gold has given back $25+ today after the latest batch of US data showed the American economy in rude health. Durable goods m/m beat expectations by a...
Gold Price Forecast: XAU/USD stays below $1,985 hurdle ahead of pivotal Fed decision
Gold Price fades bounce off one-week low amid market’s pre-Fed anxiety, China concerns. China-inspired optimism also dims as fears of Sino-US tussle reignite. Mixed data underpins dovish bias for US central bank but FOMC has always been a fighter. Fed Chair Powell’s...
Gold (XAU/USD) Price Action Sidelined For Now as Multiple High Risk Events Near
Risk events start today with US PMIs. Retail traders remain heavily long of gold. Gold is trading on either side of $1,960/oz. an area that has acted as resistance and support in the past months. Today’s price action is limited and the 14-day Average True Range...
Euro (EUR/USD) Forecast – All Eyes on the Fed and ECB Next Week
EUR/USD slides back towards 1.1100. Fed blackout period ahead of next week’s FOMC meeting. The US dollar has perked up this week and currently trades around 150 pips higher than this week’s 99.50 low print. Recent US economic data has been marginally better than...
USD/CNH, Copper Outlook: Worrisome Chinese Data Takes Hold
Worse than expected Chinese data confirms reopening challenges USD/CNH: Dollar selloff provides bulls with potential re-entry into bullish trend Copper: Worrying Chinese data sends copper sharply lower WORSE THAN EXPECTED CHINESE DATA CONFIRMS REOPENING CHALLENGES The...