United Arab Emirates Gold price today: Gold falls, according to FXStreet data
United Arab Emirates Gold price today: Gold falls, according to FXStreet data
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United Arab Emirates Gold price today: Gold falls, according to FXStreet data
Forex
Pakistan Gold price today: Gold falls, according to FXStreet data
India Gold price today: Gold falls, according to FXStreet data
Malaysia Gold price today: Gold falls, according to FXStreet data
EUR/JPY Price Forecast: Tests 185.00 after breaking above moving averages
AUD/USD Price Forecast: Retreats from 38.2% Fibo. hurdle; holds above 0.6900
Silver Price Forecast: XAG/USD corrects to near $62, increasing bearish bets on oil prices limit downside
Gold struggles to find acceptance above $4,200; eases from two-week high amid USD uptick
Last week's post-US NFP rebound has given NZD/USD some breathing room, but it has done little to convince traders that the recent downtrend has run its course. With the Reserve Bank of New Zealand set to announce its policy decision this week, the Kiwi now faces a catalyst that could determine whether the recovery develops into something more durable or simply marks another pause before sellers return.
Looking at the 4-hour chart, the pair was able to surpass the 38.2% Fibonacci retracement level of the downward move from the 1.1672 swing high to the 1.1324 low. However, the bears remained active near the 1.1675 resistance and the 100 simple moving average (red, 4-hour).
Gold and silver rebound after weak U.S. jobs data lowers Fed rate hike expectations, but upcoming Fed minutes and ISM services PMI may decide the next move.
USD/JPY was the main focus for many traders last week, moving above 162 as markets tested the Japanese government's willingness to intervene. Intervention warnings from Japanese officials, together with rumors that intervention may have started, triggered a quick retracement, although actual intervention was not confirmed.
PBOC sets USD/CNY reference rate at 6.8066 vs. 6.8047 previous
AUD/USD finally snapped its four-week losing streak, but the recovery has done little to alter the broader technical picture. With resistance clustered just below 0.7000 and a quiet Australian calendar shifting attention to US data and the FOMC minutes, traders may need a fresh catalyst before the next meaningful move develops.
AUD/USD finally snapped its four-week losing streak, but the recovery has done little to alter the broader technical picture. With resistance clustered just below 0.7000 and a quiet Australian calendar shifting attention to US data and the FOMC minutes, traders may need a fresh catalyst before the next meaningful move develops.
Can Fed minutes push gold above its 52-week moving average? See why that could confirm a reversal bottom and extend the latest XAU/USD rally.
The South African Rand has strengthened in recent weeks, with the US Dollar to Rand (USD/ZAR) exchange rate falling towards 16.23 after retreating more than 2% since the start of the year. Citi expects the Rand to remain resilient, forecasting USD/ZAR at 16.45 over the next three months before strengthening further to 16.15 over the six to.
The euro is forecast to remain trapped in broad trading ranges against the US dollar over the coming months, according to Rabobank, although the bank expects a modest recovery towards 1.16 over the next year. Rather than anticipating a strong directional move, Rabobank believes the battle between resilient US economic growth and.
Thursday's abrupt decline in USD/JPY reignited speculation that the Bank of Japan may have stepped into the market on behalf of Japan's Ministry of Finance. Whether that was the case remains unclear, but it's plausible the move reflected a combination of other factors, including a well-timed Reuters report suggesting Japanese authorities may be looking to catch speculators off guard, heavily stretched short yen positioning, thinning liquidity ahead of the US payrolls report and Independence Day holiday, and Federal Reserve Chair Kevin Warsh striking a slightly less hawkish tone only hours earlier.
EURGBP edges higher on Friday after fresh acceleration lower in past three days failed to clearly break Fibo support at 0.8552 (50% retracement of 0.8239/0.8865 rally, also weekly Ichimoku cloud base) and formed a bear-trap pattern on daily chart that paves the way for recovery.