Gold is restarting to feel the heat of rising US real yields following upbeat US data in the past couple of days. What is the outlook and what are the key levels to watch in XAU/USD?
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Wednesday, 6 September 2023
Crude Oil Price Makes New Peak on Supply Cuts and Inventory Run Down. Higher WTI?
Crude oil prices launched to a 10-month high overnight as OPEC+ supply cuts are extended, and US stockpiles continue to shrink while the structure of the market appears at a crossroads.
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XAU/USD Price Forecast: Gold On the Cusp of Another Breakdown
Gold prices could be in for more pain as oil prices add to reflation worries. XAU/USD now looks to US ISM services PMI.
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Tuesday, 5 September 2023
Euro Slides as US Dollar Dominates Again on Lofty Treasury Yields. Lower EUR/USD?
The Euro sunk to new lows after the US Dollar ascendency got back on track, boosted by rising Treasury yields and high energy prices. If WTI goes higher, where to for EUR/USD?
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Asia Day Ahead: Australia’s GDP Outperforms, Nikkei Eyeing Break of Bullish Flag
US indices started the week on a more subdued tone, with a jump in oil prices to a new 10-month high not providing much reassurances for the global inflation outlook.
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Australian Dollar Falls as GDP Slows; How Much More Downside for AUD/USD?
AUD after the Australian economy slowed in the second quarter, reinforcing the view that the RBA is done with hiking interest rates. What is the outlook for AUD/USD?
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US Dollar Soars as Yen Sinks on Burgeoning Yield Differential. Higher USD/JPY?
The US Dollar raced to new heights overnight with Treasury yields pushing north, exasperating the spread to JGBs. If the gap widens, will USD/JPY make a new peak?
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Australian Dollar Outlook: AUD/USD in Peril as Sentiment Data Signals Weakness
AUD/USD sinks and flirts with major breakdown following disappointing data from China. Market positioning indicates the potential for further declines in the near term.
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Gold and Silver Latest – Stronger US Dollar Weighs on XAU/USD and XAG/USD
The US dollar is pushing higher after a long weekend and that is pressing down on the price of gold and silver
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Monday, 4 September 2023
Bitcoin & Ethereum Influenced by Thick Cloud Cover; BTC/USD & ETH/USD Price Setups
Bitcoin and Ethereum are testing crucial support levels that could define the trend for subsequent weeks. What is the outlook and the key levels to watch?
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Australian Dollar Languishes Near Lows After RBA Pauses Again. Lower AUD/USD?
The Australian Dollar dithered after the RBA decided to keep the cash rate unchanged at 4.10% as the bank prepares to pass the Governor's baton. Where to for AUD/USD?
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US Dollar Struggles at Resistance Amid Softening Data; EUR/USD, GBP/USD, USD/CAD
The recent struggle at key resistance reinforces the view that the US dollar’s (DXY Index) rally is losing steam as recent data eases concerns that the US economy is resurging. What’s next for the greenback?
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Asia Day Ahead: RBA rate decision ahead, VIX hovers near year-to-date low
Today will leave the Reserve Bank of Australia (RBA) rate decision on watch, with focus on whether recent inflation progress is sufficient to soften the RBA’s hawkish stance.
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Gold Price Steadies as US Real Yields Offset by Potential BRIC Demand. Lower XAU/USD?
The gold price has seen some sideways price action as the market contemplates a bullish and bearish case with the potential influence of BRIC countries outweighing historic fundamentals.
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Pound (GBP) Update: Sterling Reinforces Range Trading Tendencies
The pound seems to favour choppy, sideways price action. This has been evident for EUR/GBP for some time but now appears in GBP/USD after trendline breakdown
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USD/ZAR Price Forecast: Rand Weakness Brings R19/$ Back Into Focus
Rand weakness pushes USD/ZAR towards key resistance zone ahead of key SA and US economic data this week.
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EUR/USD Price Forecast: Euro Upside Could be Temporary
The euro looks to reestablish itself against the US dollar but weak German export data could see EUR/USD heading towards 1.07 once again.
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Sunday, 3 September 2023
Crude Oil Flies High with Markets Eyeing a Fed Pause. Will WTI Go Higher?
The crude oil price has been steady today after surging last week on supply woes. With the US on holiday today, conditions in some markets might see less liquidity. Where to for WTI?
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Japanese Yen’s Slide Pauses but for How Long? USD/JPY, EUR/JPY, MXN/JPY Price Setups
The retreat in US Treasury yields amid a scaling back in US Federal Reserve rate hike expectations this year appears to have put a lid on USD/JPY.
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US Holiday Today but Focus Could be on China, Russell 2000, USD/JPY and Brent Crude
The US jobs data released last Friday displayed signs of softening in the US labour market, while Wall Street continues to catch a breather from its recent rally.
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ECB Leaves Rates Unchanged, Rate Cut Looms, EUR/USD Steady Ahead of Press Conference
The European Central Bank left all three official rates unchanged as expected. Traders are now focusing on the press conference for any clue...
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The Nikkei 225 has bounced at important long-term support and staged a modest turnaround. However, its down-channel endures and will need to...
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AUD prices remain hesitant ahead of the FOMC announcement later today. US PPI will also contribute to recent economic data. from DailyFX -...