Author: FX
GOLD PRICE WEEK AHEAD OUTLOOKGold ticked down this week, but lacked strong conviction, with prices fluctuating aimlessly around the 50-day SMA, a sign of consolidationThe January U.S. inflation report will be the focus of attention and a potential source of market volatility in the week aheadThis article looks at XAU/USD’s technical outlook, examining important price thresholds worth watching in the near termMost Read: US Dollar Eyes US CPI for Fresh Signals, Setups on EUR/USD, GBP/USD, GoldGold prices (XAU/USD) closed the week down approximately 0.75%, settling slightly below the $2,025 mark, dragged lower by the sharp jump in U.S. Treasury yields…
4/4 © Reuters. U.S. Representatives Mike Turner (R-OH), French Hill (R-AR), Jason Crow (D-CO) and Abigail Spanberger (D-VA) attend a joint news briefing, amid Russia’s attack on Ukraine, in Kyiv, Ukraine February 9, 2024. REUTERS/Gleb Garanich 2/4 By Max Hunder KYIV (Reuters) – A bipartisan delegation of U.S. Congress members came to Kyiv on Friday to meet with Ukraine’s president as they sought to give assurances they would do their part to get crucial, stalled military aid legislation through the House of Representatives. The delegation consisted of four members of the House Intelligence Committee: Republicans Mike Turner and French Hill,…
© Reuters. FILE PHOTO: Palestinians wait to receive food cooked by a charity kitchen amid shortages of food supplies, amid the ongoing conflict between Israel and the Palestinian Islamist group Hamas, in Rafah in the southern Gaza Strip, January 16, 2024. REUTERS/Ib By Nidal al-Mughrabi and Emily Rose DOHA/JERUSALEM (Reuters) -Trapped in and around Rafah, more than 1 million Palestinians braced for Israel to complete a plan to evacuate them and launch a ground assault against Hamas fighters in the southern Gaza city. Aid agencies warned that large numbers of civilians could die in the Israeli offensive and the U.N.…
SlavkoSereda/iStock via Getty Images Crude oil futures rose for a fifth straight session Friday, recovering most of last week’s losses, while U.S. natural gas fell for the fifth consecutive day to settle at its lowest since September 2020. Crude added to the 3%-plus gains in the previous session as Israel launched new air strikes in Gaza, with hopes for a ceasefire in the region fading at least for the near term, supported by tightening product supplies in the U.S. and elsewhere. “Oil prices remain quite sensitive to the developments in the Middle East, and it appears as though nothing else…
It was a topsy-turvy week in the forex market, as the major currencies took cues from their respective central bank biases. Which currency claimed the top spot this time? Source link
Market correlations seemed to be in flux for the most part of the week, as different factors came in play for currencies, equities, and commodities. Pushback on policy easing by a handful of major central banks spurred rallies for their respective currencies and highlighted divergences with more dovish monetary authorities. Meanwhile, opposing forces pushed crude oil prices around, including geopolitical tensions, revised world demand forecasts, and surprise inventory gains. This Article Is For Premium Members Only Become a Premium member for full website access, plus get: Ad-free experience Daily actionable short-term strategies High-impact economic event trading guides Access…
Share: Cloudflare traded up as high as 22% on Friday after releasing earnings on Thursday. Cybersecurity firm beat earnings and sales consensus for the fourth quarter. Adjustment to inflation readings helped stock indices to the upside on Friday. NET stock may find support closer to $100 psychological level. Cloudflare (NET) stock has lost just 0.85% afterhours, trading at $107, after closing up 19.4% on Friday following a much better than expected quarterly earnings result announced late Thursday. The cybersecurity firm proved the doubters wrong as it produced quarterly sales for the fourth quarter that grew 32% from a year…
The USD is ending the session lower to end the trading week with most of the declines coming vs the AUD and the NZD. Overnight, ANZ reported that is now predicts that the Reserve Bank of New Zealand (RBNZ) will increase the Official Cash Rate (OCR) by 25 basis points in both February and April, bringing it to a total of 6%, which deviates from the consensus view. This forecast is based on a series of small, but unwelcome surprises in economic data, leading ANZ to believe that the RBNZ will not feel confident that it has sufficiently met its…
Share: EUR/USD found some room higher but still lacks upside momentum. Final German HICP and CPI inflation brought no surprises. US CPI inflation, EU GDP figures slated for next week. The EUR/USD found some room on the high side on Friday, continuing a near-term recovery. However, the pair remains firmly planted on the low side of technical barriers and remains pinned below the 1.0800 price handle. German inflation figures brought nothing new to the table, confirming initial flash prints, and an adjustment by the US Bureau of Labor Statistics (BLS) made anticipated changes to how seasonal adjustment is…
Share: The XAU/USD retreated to $2,025 on Friday, registering losses of 0.40% on the day. Despite soft CPI revisions, the metal failed to gather traction. Daily chart indicators hint at a bearish bias, with RSI’s negative slope and MACD’s rising red bars suggesting selling momentum. In the four-hour chart, indicators appear flat hinting at a consolidation of losses. In Friday’s session, the XAU/USD was observed at a trading level of $2,025, marking a dip of 0.40%. Focus is set on next week’s Consumer Price Index (CPI) figures from January after the US downwardly revised the December figures, to…