Author: FX
Gold slips below $3,750 after stronger US data lifts the Greenback and yields.Q2 GDP revised higher to 3.8% annualized, Durable Goods Orders surge 2.9% in August.Recent Fed remarks highlight a cautious stance, balancing inflation and labor market risks.Gold (XAU/USD) steadies on Thursday after briefly slipping on stronger-than-expected US economic data, as geopolitical risks lend support. Bloomberg reports that European diplomats privately warned Moscow they are prepared to shoot down Russian jets. At the time of writing, XAU/USD is trading around $3,740, holding above session lows as the US Dollar (USD) and Treasury yields remain firm.Initial Jobless Claims came in at…
The US economy expanded at a robust pace in the second quarter.The US Dollar Index clings to strong daily gains above 98.00.The United States’ (US) Gross Domestic Product (GDP) expanded at an annual rate of 3.8% in the second quarter, the US Bureau of Economic Analysis’ (BEA) final estimate showed on Thursday. This reading came in above the previous estimate and the market expectation of 3.3%.”Real GDP was revised up 0.5 percentage point from the second estimate, primarily reflecting an upward revision to consumer spending,” the BEA explained in its press release.Market reactionThe US Dollar (USD) continues to outperform its…
US weekly jobless claims fall, but labor market softening Source link
Some profit-taking might’ve struck the likes of gold yesterday but things are quickly turning back around in trading today. The precious metal is up 0.6% to $3,657 now, with dip buyers coming back in a timely manner. However, the bounce today is being overshadowed by a jump in silver prices for the most part. That is up over 2% and breaking the $45 level for the first time since 2011.Silver (XAG/USD) monthly chartAs much as a lot of people are talking about gold, silver – and platinum for that matter – has outperformed gold in terms of gains so far…
olsword/iStock Editorial via Getty ImagesDelta Air Lines (NYSE:DAL) is replacing engine units on over 300 Airbus (OTCPK:EADSF) A320 aircraft to address toxic fumes leaking into the air supply, The Wall Street Journal reported. The engines, called auxiliary power units (APU), are used to generate electricity and pump Source link
What would wider recognition of Palestine mean for Palestinians and Israel? Source link
The Swiss National Bank (SNB) is up today! Word around is that Switzerland’s central bank could keep its policies steady for another month. If the event sparks increased volatility among Swiss franc pairs, then you’ll want to take a closer look at CAD/CHF’s countertrend opportunity: CAD/CHF 4-hour Forex Chart by TradingView The oil-related Canadian dollar is holding its ground against the Swiss franc, thanks to a combo of increased risk appetite, higher crude oil prices, and U.S. dollar strength that limited the Swiss franc’s demand. Will this week’s SNB policy decision restart CHF’s upswings? Or will it further weigh on…
There are a couple to take note of on the day, as highlighted in bold below.They are all for EUR/USD layered in between 1.1700 through to 1.1800, with the larger ones clustered near 1.1745-50 and the 1.1800 level. There has been a bit of a push and pull mood in the dollar and major currencies this week, with traders lacking any real conviction in general. Watchful eyes will be on US data later in the day but before we get to that, the expiries above should keep EUR/USD price action more rangebound before rolling off. That especially as the pair…
The True Range Envelopes MT4 Indicator is a custom tool designed to measure volatility and plot envelopes around price action. Unlike fixed bands, these envelopes adjust based on the average true range (ATR), which means they expand during high volatility and contract when the market is calm. This makes it more reliable for traders who want to adapt to changing market conditions instead of using static levels. Why Traders Use It One of the main reasons traders use the True Range Envelopes is to identify potential reversal zones. When the price touches or moves outside the envelopes, it often signals…
EUR/GBP made it all the way to the top of its range visible on the 4-hour time frame, and it looks like the pair is deciding between going for a bounce or a break. Which way will it go from here? EUR/GBP 4-hour Forex Chart by TradingView With ECB policymakers suggesting that the central bank is near the end of its easing cycle, the shared currency has managed to stage a steady climb for the most part of September. On the flip side, a more dovish Bank of England MPC vote in last week’s meeting has kept the U.K. currency…