Tag: Gold

September 29, 2023 BY Elizabeth Anderson

Bond market breathes much-needed sigh of relief

After just missing a 16-year high, US GDP data has shown yields to be marginally smaller than expected for September. The retreat in yields has allowed risk assets some breathing space, but with the 10-year note still above the 4.5% level, investors are anxious about a downward spiral in October due to Index uncertainty. Market…

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July 25, 2023 BY Steffy Bogdanova

Weekly data: traders concentrate on the Fed and ECB

The focus for the Fed’s press conference on Wednesday night is on whether there’s any hint about a hike in the fourth quarter. Traders mostly expect this to be the last hike of this cycle for the moment, but it’s likely that the consensus will change at least slightly after Jerome Powell’s comments. Friday’s PCE…

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July 17, 2023 BY Steffy Bogdanova

Weekly data: GBPUSD & USOIL price action

On the technical side, the price on the chart is currently in a correction status after reaching a yearly high of around $1.31. The Stochastic oscillator is in the extreme overbought levels for the last 10 sessions  indicating that a correction to the downside might still have some more power into it. On the other…

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July 11, 2023 BY Steffy Bogdanova

Weekly data: GBPUSD & USOIL price action

On the technical side, the price on the chart has been making consistent gains since early March with multiple retests to break the upward trendline without being able to do so. This shows the strength of the quid against the dollar in the medium outlook. The 50 day moving average is still trading bove the…

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July 04, 2023 BY Steffy Bogdanova

Weekly data: USOIL & Gold price action

USOIL, daily Oil prices are on the rise after Saudi Arabia and Russia announced supply cuts for August. Saudi Arabia extended its voluntary production cut of one million barrels per day (bpd) for another month, while Russia announced it would reduce its oil exports by 500,000 bpd in August. Both countries are trying to prop…

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June 27, 2023 BY Steffy Bogdanova

Weekly data: GBPUSD & gold price action

GBPUSD, daily The negative Claimant change on the 13th as well as the decline in unemployment figures in the United Kingdom had a positive effect on the quid against the dollar while the pausing of the Fed on the 14th had also contributed to the gains seen on the daily chart of the cable pair.…

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June 07, 2023 BY Steffy Bogdanova

Weekly data: Gold and AUDUSD in focus

AUDUSD  The Australian dollar had performed an uptick following the unexpected rise of the interest rate from RBA. This reaction might be temporary, though now Aussie is of the few currencies, gaining higher yields in real-time. Considering the position of AUDUSD at the intermediate-term resistance area, it may pull back as shown on the chart,…

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Weekly data: Oil and Gold price action before the NFP
May 26, 2023 BY Steffy Bogdanova

Daily Report: XAU/USD appears vulnerable

Short-Term Support Breach? While the bigger picture (daily chart) displays room to push lower, H1 support at $1,945 is vulnerable. Overhead resistance at $1,955 remains on the radar, but the zone surrounding the base (often recommended to draw support/resistance as a zone rather than a defined price point) has been tested. Therefore, a decisive H1…

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