Gold Price Steady After US Dollar Pummelling. Will XAU/USD Rally Again?
The gold price fell victim to US Dollar strength post solid jobs numbers as the market appears to be taking on board the Fed’s agenda for rates. Where to for XAU/USD?
The gold price fell victim to US Dollar strength post solid jobs numbers as the market appears to be taking on board the Fed’s agenda for rates. Where to for XAU/USD?
Rate expectations seem to be taking the lead as the first major theme to worry global traders minds’ in 2023. Speculation around the Fed’s bearings drove the Dollar higher this past session, but the S&P 500 kept its range in check. Will the NFPs override the lowest ‘volatility of volatility’ reading in years?
US equity futures have extended gains while US inflation expectations declined. With S&P 500 and Nasdaq futures clearing resistance, USD remains strained ahead of US CPI.
The US Dollar is moving down to a fresh low, fast approaching a spot of confluent support around the 103 handle on DXY.
Bitcoin has been edging higher over the last few days and is on course to re-test an important level of resistance.
Gold and silver enjoyed months of price appreciation as the USD selloff took shape. Silver appears to be cooling faster although, XAU/USD faces stern resistance at 1875
Cable is continuing to push higher this morning with the move driven by ongoing weakness in the US dollar after Friday’s woeful US ISM data.
The EUR/USD has benefited from the recent dollar sell-off ahead of the highly anticipated U.S. CPI print later this week.
The US Dollar soared as the S&P 500 sank after a rosy ADP employment report shaped high expectations for Friday’s non-farm payrolls report. Will the DXY Index reverse?
Crude oil has made some ground today after a wild ride last week that saw large declines with the Federal Reserve set to make the hard decisions to slow the economy. Will WTI rebound?