Gold steadies after sharp drop as traders weigh Fed, Middle East risks
Gold steadies after sharp drop as traders weigh Fed, Middle East risks
Market narrative
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Gold steadies after sharp drop as traders weigh Fed, Middle East risks
Forex
EURCHF currency pair recently broke the resistance zone between the resistance level 0.9270 (which has been reversing the price from March) and the 61.8% Fibonacci correction of the earlier downward impulse from last August.
Silver price today: Silver rises, according to FXStreet data
Silver tracks industrial participation as manufacturing expectations stabilize
USD/JPY soared to 163.81 on Friday, marking a new 40-year high. Repeated warnings of possible currency intervention have so far failed to halt the yen's decline amid a broad strengthening of the US dollar.
GBP/USD – Sell trade idea explained [Video]
USD/JPY breaks records: Nothing slows the Yen's decline
Euro: Rate support seen fading gradually against US Dollar – MUFG
USDJPY hits multi-month high The Japanese yen remains pressured after the pair broke to another fresh high. The bullish bias remains intact even though the pair has hit some resistance.
Gold: Oil-led inflation fears cap recovery – ING
The ECB kept rates unchanged as traders turn to U.S. PMI data and the Fed meeting. Explore the latest outlook for DXY, EUR/USD and GBP/USD.
Silver Price Forecasts: XAG/USD edges up above $58.00 as the US Dollar trims gains
USD/CAD Price Forecast: Softens below 1.4100, but bullish outlook stays intact above key support
Gold: Oil spike caps rebound and keeps risks two-way – OCBC
AUD/USD Price Forecast: Surging US bond yields warrant downside
Euro: Weakens despite ECB rate hike signals against US Dollar – UOB
The Pound to US Dollar (GBP/USD) exchange rate traded in a narrow range on Thursday as investors continued to assess Prime Minister Andy Burnham's first week in office while awaiting fresh economic data. At the time of writing, GBP/USD was trading around $1.3362, down marginally on the day.
The Pound to Australian Dollar (GBP/AUD) exchange rate fell to a near one-month low on Thursday after stronger-than-expected Australian employment figures boosted the ‘Aussie'. At the time of writing, GBP/AUD was trading around AU$1.9091, having recovered from an intraday low of approximately AU$1.9066.
Gold tests major support at 4,000 as Middle East tensions, crude oil and a stronger US dollar leave bulls searching for a cat.
Elliott Wave outlook: Gold (XAU/USD) rally rejected, downside potential remains [Video]