Author: FX
Goal technicalsThe price of gold continued it run to the upside, for the third week or oh extended above a topside channel trendline. That trendline cuts across at $3082 and moving higher. The price of gold is up close to 100% from it’s September 2022 low. For the trading year (2025), the price is up around 23.46%.The gain in this week by itself is around 6.35% currently. That represents the second-highest trading week since March 13, 2023 when the the price rose by 6.5%.Looking at the daily chart below, the low price this week stalled right ahead of its 50-day…
The price of crude oil futures are settling at $61.50. That is up $1.43 or 2.3%. The high price today reached $61 in a seven cents. The low price was at $59.46. For the week, the price is down $0.78 or -1.26%. At session lows however the price was down $-7.13 to a low of $55.15 (lowest level going back to February 2021) before bouncing to the upside. The high for the week reached $63.87.Crude oil technicalsLooking at the daily chart above, a swing area floor between $60.45 and $63.64 was broken this week on its way to the low…
The low price in the NASDAQ this week stalled at 14,784, just above the 200-week moving average, which currently sits at 14,616.37. Notably, this isn’t the first time that level has attracted support — in 2023, a similar dip found buyers just ahead of the same long-term average. The key difference then was the added support from the 50- and 100-week MAs, which aren’t in play this time around.This week’s bounce has been constructive, with the price rebounding strongly and pushing back above the 100-week MA, now at 16,299.86. That level becomes an important support pivot — holding above keeps…
An interview with Collins is out in the FT.I take her comments to signal that the Fed would be there if things got disorderly (as always) but some in the market are taking it as a stronger signal that the Fed is standing by.I think a different report released at about the same time is the driver of the bounce in risk assets at the moment.Update: Now she is out with an interview in the WSJ as well.It’s appropriate for us to have a pretty high bar to be pre-emptive” on rate cutsUSD weakness could reflect expectations of slower economic…
GBP/USD rallies past 1.3000 as China escalates trade-war with US The Pound Sterling (GBP) extends its gains versus the US Dollar (USD) as the US-China trade war escalates, with Beijing imposing 125% tariffs on US goods. Trade policies continue to drive price action, with economic data taking a backseat. At the time of writing, GBP/USD trades at 1.3067, up 0.77%. Read More… GBP/USD climbs above 1.3100 on persistent USD weakness After closing the third consecutive day in positive territory on Wednesday, GBP/USD preserves its bullish momentum and rises about 1% on the day at around 1.3100. Read More… UK GDP rebounds 0.5%…
Morgan Stanley profit beats estimates, CEO hopeful about deals Source link
EUR/USD trades near the 1.1300 zone after a strong upside in Friday’s sessionMACD flashes a buy signal while the RSI flashes with overbought territoryKey SMAs reinforce the bullish bias, with support seen in the 1.11–1.1000 rangeThe EUR/USD pair extended its rally on Friday, rising sharply and moving near the 1.1300 zone after the European session. With the pair positioned mid-range between 1.1187 and 1.1473, bulls remain in control, pushing toward new highs for the year amid renewed risk appetite.Technical indicators show a strong bullish setup, although some caution emerges. The Relative Strength Index (RSI) stands at 75.43, hinting at overbought…
Federal Reserve (Fed) Bank of New York President John Williams noted on Friday that he overwhelmingly anticipates a general weakening in US economic data as tariffs continue to take root.Key highlightsTariffs will boost inflation to between 3.5% to 4% this year.The economy is beset by very high levels of uncertainty.Tariffs and trade key drivers of huge uncertainty.Modestly restrictive monetary policy is totally appropriate.Fed policy is well positioned for what lies ahead.Current US monetary policy allows the central bank space to react.I remain fully committed to getting inflation back to 2%.Longer-term inflation expectations are anchored, we must maintain that.I expect growth…
St. Louis Federal Reserve President Alberto Musalem said on Friday that he expects the economic growth this year to be lower than the trend, per Reuters.Key takeaways”Tariffs if implemented poses upside risks to inflation, don’t know if that’s months, quarters or years.””On balance, financial conditions have tightened.””If tighter financial conditions sustain for a few months that would affect economic activity.””Higher inflation and softer labor market closer to baseline scenario now.””If inflation expectations become unanchored, have to prioritize fighting inflation.””Tariffs will dampen activity as companies rethink supply chains, consumers face higher prices.””Uncertainty on tariff announcements also a headwind.””Could take quarters, years…
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