Gold’s Price Volatility: A Rollercoaster Ride Emotional Rollercoaster Gold Price (XAU/USD) fluctuates around the weekly highs, currently sitting at $1,916 during early Friday’s Asian trading session. This comes as a surprise after a bearish turn on Thursday. The yellow metal seems poised to end its four-week losing streak, with all eyes on Federal Reserve (Fed)…
Gold Price Recovers as US Dollar Weakens Introduction The price of gold (XAU/USD) has seen a confident recovery as the US Dollar and Treasury yields faced selling pressure. This followed a report from S&P Global which showed weak preliminary PMI data for August. The lower factory activity and bleak service sector growth are raising concerns…
The Impact of Fresh Supply on NZD/USD Pair on Thursday Background The NZD/USD pair encountered fresh supply on Thursday, leading to a reversal of a significant portion of the previous day’s gains. The pair reached a one-week high of 0.5985 before spot prices dipped to a daily low in the mid-0.5900s during the early European…
The Current State of USD/JPY Pair Regaining Positive Traction Asian Session Snapshot The USD/JPY pair has been making positive moves during the Asian session on Thursday, breaking a two-day losing streak that led it to a one-and-half-week low at around mid-144.00s touched the previous day. Currently, spot prices are trading just above the 145.00 psychological…
Gold price strengthens on fading hopes of more interest-rate increases What is happening with gold prices? Gold prices (XAU/USD) have been strengthening this week as the rally in US Treasury yields has come to a halt. This pause in the rise of Treasury yields is due to fading hopes of more interest-rate increases from the…
EURUSD Price Forecast: Wedge Pattern Suggests Limited Weakness Ahead Introduction The EURUSD pair came down as expected to a new low after a wave 4 corrective rise. The price is now seen in a wave back, back at the 1.0830 support level. Therefore, the wedge shape of the price action may suggest limited weakness and…
EUR/JPY Bears Testing Key Support Level Amid Eurozone and German PMI Data Release EUR/JPY Recap EUR/JPY bears are currently testing the short-term key support level around 158.10 during the early hours of Wednesday’s European session. This comes as markets eagerly anticipate the release of the first readings of Eurozone and German PMIs for August. The…
Feeling the Pulse of the Currency Market Riding the Wave: AUD/USD Pair There’s a buzz in the air as the AUD/USD pair attracts some dip-buying action, following an overnight pullback from a multi-day peak. As the Asian session unfolds on Wednesday, spot prices are holding steady around the mid-0.6400s, marking a modest gain of just…
