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Gold markets continue to hang on to the $4,000 level during the early part of the session on Wednesday.
Forex
Silver dropped a bit in the early part of the session on Wednesday, but continues to see a bit of support as we wait for the jobs report on Thursday. Silver continues to be very noisy to say the least.
Gold is still searching for ground support that could lead to another rebound. As we see from the chart, the market is facing support at 3960, with resistance at 4100 which could hold a trading zone.
USDJPY managed to pass above the short-term resistance zone of 161.95 which shows a strong advance still ongoing. Traders should take Precautionary measures as the Bank Of Japan could intervene any time in the market.
Our previous projection for the GBPUSD still applies after the market fell below the daily trend support at 1.3280, which could lead to more pressure over the market. As we see from the previous chart, Intraday prices show resistance around 1.3325, where as long as prices hold below it, more of a drop toward targets […]
The UD Dollar continues to be one of the strongest assets in the currency markets.
Euro managed to the test resistance zone of 1.1425 last Friday as Intraday prices remain positive, holding the market above 1.1380 to back a potential advance towards the 1.1500-25 zone. Below 1.1380 more of a drop is likely with supports at 1.1310 and 1.1210.
Gold prices managed to bounce back from their overnight lows to turn positive on the day ahead of the start of the US session. Investors will be looking ahead to some central bank commentary ahead of tomorrow's US payrolls report.
Gold steadies near $4,000 as traders await US labor data, Fed Chair speech
The USD/ZAR pair was little changed on July 1 as traders reacted to hawkish remarks by South African Reserve Bank (SARB) Governor Lesetja Kganyago, who spoke at the European Central Bank (ECB) forum in Portugal. The pair was trading at 16.40, a few pips below last month's high of 16.67.
Against the backdrop of a weak UK economy and inflation above target, the Bank of England paused on 18 June, leaving the base rate unchanged at 3.75% for a fourth consecutive meeting, despite internal disagreements among committee members over the need for a rate hike. The contrast with the European Central Bank's actions was notable: on 11 June, the ECB raised interest rates in response to a surge in eurozone inflation driven by higher energy prices amid the Middle East conflict.
The EUR/CHF pair is trading within a clear divergence between the two central banks. The ECB raised rates by 25 basis points on 11 June, lifting the deposit rate to 2.40% — its first hike since 2023 — after eurozone inflation climbed to 3.2% in May on the back of the Middle East-driven energy shock.
Gold Price Forecast: XAU/USD hovers near YTD lows at $3,941 weighed by higher US yields
The Canadian Dollar remains under pressure against a broadly stronger US Dollar, but Scotiabank believes the recent USD/CAD rally is becoming increasingly stretched. The US Dollar to Canadian Dollar exchange rate (USD/CAD) traded near 1.4215 on Wednesday after climbing almost 3% in June, taking the pair to its highest levels since late.
Silver price today: Silver falls, according to FXStreet data
Silver traders are focused on Thursday's US Non-Farm Payrolls report, but the metal's next major move could begin a day earlier. After days of listless sideways trading, Silver has failed to generate any meaningful recovery despite stabilizing above recent lows.
Gold: Range-bound near term, upside later – HSBC
Eurozone flash HICP cools faster-than-expected to 2.8% in June: What it means for EUR/USD?
Intraday analysis covering EURUSD, AUDUSD , and UK 100(the FTSE) , highlighting recent price movements, key technical levels, and short-term momentum shifts across major markets. EURUSD gaining lost ground The Euro continues to fight back as prices hit another peak.
Euro: Sideways bias within defined band against US Dollar – UOB
