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EUR/USD Drops Toward 1.1700 as US Dollar Strengthens

EUR/USD Drops Toward 1.1700 as US Dollar Strengthens; FOMC Minutes in Spotlight

The EUR/USD pair slid to around 1.1705 during Wednesday’s Asian session, weighed down by renewed strength in the US Dollar. The Euro came under pressure following fresh tariff threats from former US President Donald Trump, which unsettled global markets and added to investor caution. 

Trump reignited global trade concerns by proposing a 50% tariff on copper imports and hinted at possible duties on semiconductors and pharmaceuticals. While he mentioned that negotiations with both the European Union and China are progressing well, he also warned that a tariff notice to the EU could be issued within days. This uncertainty has dented risk sentiment, putting the Euro under additional stress. 

Attention now turns to the Federal Reserve’s meeting minutes, due later today. Market participants are hoping for more clarity on the Fed’s rate path, especially amid growing expectations of monetary easing. 

At its June meeting, the Fed held interest rates steady, maintaining the federal funds rate between 4.25% and 4.50%—a level unchanged since December. However, markets are now pricing in a total of 50 basis points in rate cuts by year-end, potentially beginning as early as October. 

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Australian Dollar Gains as Risk Sentiment Improves, RBA Decision in Focus

Australian Dollar Rises Amid Risk-On Sentiment, Focus Shifts to RBA Rate Decision

The Australian Dollar (AUD) continues its third straight session of gains against the US Dollar (USD) on Monday, following US President Donald Trump’s move to postpone the imposition of reciprocal tariffs. A weaker USD following disappointing US retail sales data has further supported the AUD/USD pair, reigniting speculation that the Federal Reserve (Fed) may cut interest rates later this year despite persistent inflation concerns.

Yet, the AUD’s gains could be capped before the Reserve Bank of Australia’s (RBA) policy announcement on Tuesday, as mounting speculation of a cut in interest rates deters sentiment. The RBA is widely expected to lower its Official Cash Rate (OCR) by 25 basis points (bps) to 4.10%, marking the first rate reduction in four years.

US Dollar Under Pressure Amid Lower Treasury Yields

The US Dollar Index (DXY) is down for the third consecutive session, bogged down by weaker US Treasury yields. At the time of writing, the DXY is trading around 106.70, with 2-year and 10-year Treasury bond yields at 4.26% and 4.47%, respectively.

Statistics released by the US Census Bureau on Friday indicated that US Retail Sales decreased 0.9% in January, a reversal from a revised 0.7% rise in December (earlier reported as 0.4%). The decrease was deeper than the market expectation of a 0.1% decline.

Conversely, Core PPI inflation in the US increased to 3.6% YoY in January, above expectations of 3.3%, though marginally less than the revised 3.7% (initially published as 3.5%). This has consolidated expectations that the Fed will push rate cuts until the second part of the year.

The US Consumer Price Index (CPI) rose 3.0% YoY in January, beating expectations of 2.9%, and core CPI (excluding food and energy) went up to 3.3% from 3.2%, beating expectations of 3.1%. On a month-on-month basis, headline inflation rose 0.5% in January compared to 0.4% in December, with core CPI rising to 0.4% from 0.2% in the same period.

Fed Officials Signal a Cautious Approach to Rate Cuts

In his semi-annual report to Congress, Fed Chair Jerome Powell stated that policymakers “do not need to be in a hurry” to cut interest rates, citing a strong labor market and robust economic growth. Powell also warned that Trump’s tariff policies could exert upward pressure on inflation, making it harder for the central bank to lower rates.

A Reuters poll of economists now indicates the Fed will wait until next quarter to cut rates, citing ongoing inflationary concerns. Although previously, some analysts anticipated a March rate cut; the majority now sees at least one rate cut by June, but opinions remain divided.

Federal Reserve Bank of Cleveland President Beth Hammack echoed this sentiment, saying that maintaining rates at current levels for a long time is probably the right thing to do. Hammack added that a patient strategy will enable the Fed to evaluate economic conditions before altering policy.

Australian Dollar Targets Upper Range Near 0.6400

The AUD/USD currency pair quotes at 0.6360 on Monday, with an uptrend in a rising channel formation. This is indicative of a bullish market inclination, which is also complemented by the 14-day Relative Strength Index (RSI) remaining above 50.

On the upside, the pair could test the upper boundary of the ascending channel at 0.6380, followed by the psychological level of 0.6400.

Major levels of support are the nine-day EMA at 0.6310, followed by the 14-day EMA at 0.6294. A fall below these levels may erode short-term momentum, possibly pulling the pair down to the lower boundary of the rising channel at 0.6270.

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Australian Dollar Declines as US Dollar Strengthens Ahead of Jobless Claims

Australian Dollar Declines as US Dollar Holds Gains Ahead of Jobless Claims

The Australian Dollar (AUD) fell against the US Dollar (USD) on Thursday as trade balance data came in below average than expected. Furthermore, risk-off sentiment, fueled by rising US-China trade tensions, weighs on the AUD/USD.

In December, Australia’s trade surplus fell to $5,085 million, falling short of the 7,000 million anticipated and down from $6,792 million the previous year. While exports increased by 1.1% month on month, this was a decrease from November’s 4.2% increase, while imports increased by 5.9% month on month, much more than the previous 1.4% gain.

US-China Trade Tensions Weigh on Australian Dollar

Investors are still focused on the current trade stagnation between the United States and China, Australia’s top trading partner. China replied to the United States’ new 10% tax, which went into force on Tuesday, causing global market concern. Regarding the situation, President Trump announced on Monday that he intends to engage with China within the next 24 hours. However, he cautioned that failure to achieve an agreement might result in “very, very substantial” tariffs.

Meanwhile, China’s Commerce Ministry imposed a 15% tax on US coal and liquefied natural gas (LNG) imports, as well as an additional 10% levy on crude oil, farm equipment, and some autos. As a countermeasure, China has implemented export limits on important minerals such as tungsten, tellurium, ruthenium, and molybdenum, citing national security concerns.

Amid escalating trade tensions, the Financial Times writes that Chinese firms are quickening preparations to relocate production overseas, mainly to the Middle East, in order to reduce tariff impacts. Some exporters are also considering passing on prices to US consumers or expanding into new markets.

US Dollar Holds Firm Amid Mixed Economic Data

The US Dollar Index (DXY), which tracks the greenback’s performance against a basket of six major currencies, remains stable near 107.50, putting further downward pressure on the AUD/USD. The dollar’s resiliency comes after a weaker-than-expected US Services PMI fell to 52.8 in January, below the market forecast of 54.3.

Investors now focus on Friday’s US Nonfarm Payrolls (NFP) data, a key economic indicator that could influence the Federal Reserve’s monetary policy stance.

The dollar fell on Wednesday, following a poor US Services PMI report. The ISM Services PMI fell to 52.8 in January from a revised 54.0 in December, missing the market forecast of 54.3. Looking ahead, traders are anticipating Friday’s US Nonfarm Payrolls (NFP) report, which could influence the Federal Reserve’s future policy moves.

Technical Outlook: AUD/USD Pulls Back From 0.6300, Eyes Key Support

The AUD/USD pair hovers near 0.6280 on Thursday, retreating from the 0.6300 level. However, sustained trading above the nine- and 14-day Exponential Moving Averages (EMAs) suggests short-term bullish momentum remains intact. The 14-day Relative Strength Index (RSI) is also holding above 50, reinforcing the bullish bias.

On the upside, the pair might target 0.6330, its seven-week high from January 24.

Immediate support comes from the nine-day EMA near 0.6254, followed by the 14-day EMA at 0.6249.

A breach below these levels might weaken the bullish structure, potentially sending the pair below 0.6087, its lowest level since April 2020, which was recorded on February 3.

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Australian Dollar Slips as US Tariffs on China Take Effect

Australian Dollar Slips as US Tariffs on China Take Effect

The Australian Dollar (AUD) falls for the seventh consecutive day as the US Dollar (USD) strengthens following President Donald Trump’s 10% tariff on Chinese imports. Market volatility remains high as investors monitor the continuing US-China trade talks. Trump signaled he may speak with Chinese officials within the next 24 hours, warning that if a deal isn’t reached, tariffs on China will be “very, very substantial.”

Trump also announced a 30-day tariff relief for Mexico and Canada after their nations agreed to send 10,000 troops to the US border to battle drug trafficking. This move follows the introduction of 25% tariffs on Mexican and Canadian goods just two days before.

Chinese Exporters Seek Alternatives

According to the Financial Times, Chinese manufacturers are speeding up plans to transfer production offshore in reaction to US tariffs. Some companies are considering relocating to regions such as the Middle East, while others are looking into passing costs on to US customers or entering new markets.

RBA Rate Cut Expectations Weigh on AUD

The AUD faces additional pressure amid growing expectations that the Reserve Bank of Australia (RBA) may cut rates in February. The RBA has maintained the Official Cash Rate (OCR) at 4.35% since November 2023, stressing that inflation must return to its 2%-3% target range before easing policy.

Analysts at Westpac continue to forecast 100 basis points of rate cuts in 2025, with the market pricing in a more conservative outlook. ANZ, CBA, Westpac, and National Australia Bank (NAB) all anticipate a 25-basis-point (bps) cut in February, with NAB recently revising its forecast forward from May.

US Dollar Strengthens Amid Economic Developments

The US Dollar Index (DXY) stabilizes around 108.70 after erasing gains from the previous session. Recent US economic data support the greenback, with ISM Manufacturing PMI rising to 50.9 in January from 49.3 in December, exceeding expectations of 49.8.

Inflation indicators remain in focus as the Fed’s preferred measure, the Personal Consumption Expenditures (PCE) Price Index, rose 0.3% MoM in December, up from 0.1% in November. Annual PCE inflation increased to 2.6%, while core PCE held steady at 2.8% YoY for the third straight month.

Jerome Powell, Chairman of the Federal Reserve, highlighted that further policy adjustments would be required if there was clear evidence of inflation advance or labor market weakness. Separately, Treasury Secretary Scott Bessent recently argued for new uniform taxes on US imports, beginning at 2.5% and progressively increasing—a departure from his previous stance that tariffs cause inflation.

Australian Dollar Technical Analysis

AUD/USD trades around 0.6210 on Tuesday, remaining within a descending channel pattern on the daily chart, signaling a bearish bias. However, the 14-day Relative Strength Index (RSI) is recovering toward the 50 level, suggesting weakening downside momentum. A breakout above the channel, combined with an RSI move above 50, could indicate a shift toward a bullish outlook.

On the downside, the pair may test the descending channel’s lower boundary near 0.6150. A break below this level could drive AUD/USD toward 0.6087, its lowest point since April 2020.

AUD/USD is currently testing its initial resistance, the nine-day Exponential Moving Average (EMA) of 0.6225, which aligns with the channel’s upper limit. A decisive move over this level could fuel bullish optimism.

 

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Japanese Yen Maintains Strong Bullish Momentum

Japanese Yen Maintains Strong Bullish Momentum; USD/JPY Struggles Below 154.50

The Japanese Yen (JPY) continues to strengthen in early European trading on Thursday, pushing USD/JPY further below 154.50 and closer to its one-month low from earlier this week. Market expectations that the Bank of Japan (BoJ) will hike interest rates again by year-end continue to support the JPY. Additionally, a fresh decline in US Treasury bond yields, narrowing the US-Japan yield differential, has further boosted demand for the lower-yielding Yen.

However, concerns over the potential economic impact of US President Donald Trump’s trade policies may limit aggressive JPY buying. Meanwhile, the Federal Reserve’s (Fed) hawkish pause on Wednesday has bolstered the US Dollar (USD), which could provide some support to the USD/JPY pair. Traders are now looking ahead to the European Central Bank (ECB) meeting, which may increase market volatility and drive further demand for the safe-haven Yen. Additionally, the Advance US Q4 GDP report could introduce short-term trading opportunities.

JPY Gains on Hawkish BoJ Sentiment Amid Market Uncertainty

  • Minutes from the BoJ’s December meeting, released Wednesday, indicated discussions on using neutral interest rate estimates to guide future rate hikes.
  • Former BoJ board member Makoto Sakurai stated on Tuesday that steady rate increases remain feasible due to rising wages, sustained inflation, and strong economic growth.
  • The Federal Reserve, as expected, held rates steady after its two-day meeting and signaled no immediate plans for rate cuts.
  • Fed Chair Jerome Powell emphasized a patient stance, stating there is no urgency to adjust policy and reaffirming that rates will stay elevated amid concerns over Trump’s trade policies, which could fuel inflation.
  • The 10-year US Treasury yield has struggled to sustain gains post-FOMC due to uncertainty surrounding the Trump administration’s economic policies.
  • Reports from Asahi newspaper indicate that Japan’s Prime Minister Shigeru Ishiba is finalizing plans for a February 7 meeting with US President Donald Trump in Washington.
  • The ECB’s policy decision later today is expected to introduce further volatility, alongside the Advance US Q4 GDP print.

USD/JPY at Risk of Retesting Monthly Lows Near 153.70

The USD/JPY pair faced renewed selling pressure near the 156.00 level, breaking below the key 155.00 psychological mark, confirming a multi-month ascending channel breakdown. Momentum indicators on the daily chart suggest continued downside movement, making a retest of the 153.70 region—a multi-week low touched on Monday—a strong possibility.

Key resistance levels for a rebound:

  • 155.00 round figure
  • 155.35-155.40 region
  • 156.00 psychological level

Any recovery attempt is likely to face selling pressure near these levels. A sustained break above 156.25 could trigger short-covering, potentially lifting USD/JPY toward 156.70-156.75, with further resistance at 157.00 and 157.60.

For now, the bias remains bearish, with further losses expected if the pair stays below 154.00. Traders will closely watch US data and global central bank policy updates for the next directional move.

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Gold Price Retreats from Multi-Month High Amid USD Recovery

Gold Price Retreats from Multi-Month High Amid USD Recovery

Gold price (XAU/USD) faces selling pressure at the beginning of the week, pulling back from its highest level since late October, near the $2,786 mark touched on Friday. The US Dollar (USD) has staged a modest recovery following its worst weekly performance since November 2023, which has weighed on the precious metal. However, the broader market dynamics remain supportive of a bullish outlook, suggesting potential dip-buying opportunities at lower price levels.

Market Sentiment Dampened by Trade Tensions and Fed Speculation

Risk sentiment has deteriorated due to US President Donald Trump’s recent decision to impose tariffs on all imports from Colombia, reigniting fears of a trade war. Additionally, expectations that the Federal Reserve (Fed) may cut interest rates twice by year-end, combined with a flight to safe-haven assets, have triggered a fresh decline in US Treasury bond yields. This decline could limit aggressive gains in the USD, potentially cushioning the downside for gold, a non-yielding asset.

Gold Under Pressure from USD Recovery, but Downside Remains Limited

The US Dollar Index (DXY), which tracks the USD against a basket of currencies, rose nearly 0.25% on Monday, driven by revived concerns over US trade policies. President Trump ordered 25% emergency tariffs on all Colombian imports following the country’s refusal to accept deported migrants from the US, with a threat to raise tariffs to 50% next week. Moreover, reports suggest that Trump’s advisors are considering imposing 25% tariffs on Mexico and Canada starting February 1.

In a recent update, the White House confirmed that Colombia has agreed to Trump’s demands, including the unrestricted acceptance of deported individuals. Meanwhile, Trump has reiterated his call for immediate interest rate cuts, fueling speculation of further easing by the Federal Reserve in 2025. The resulting decline in US Treasury yields may act as a headwind for the USD, potentially limiting the extent of gold’s pullback.

Traders Eye Economic Data for Further Clues

Market participants will turn their focus to key US economic data, including Durable Goods Orders, the Conference Board’s Consumer Confidence Index, and the Richmond Manufacturing Index, for fresh impetus during the US trading session.

Gold Price Outlook: Support and Resistance Levels

Gold’s recent decline may attract dip-buying near the $2,736 support zone, as the technical setup remains bullish. Any further slide below the $2,750-2,748 range could find solid support near $2,736, with additional key levels at $2,725-2,720. A break below $2,720 could trigger technical selling, pushing prices toward the $2,665-2,662 zone.

On the upside, a sustained move above the $2,772-2,773 resistance could open the door for a retest of the recent peak near $2,786. Further buying momentum beyond the $2,800 psychological level could signal a renewed bullish phase, extending the upward trend

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Gold Price Holds Defensive Below Multi-Month High Amid Risk-On Sentiment

Gold Price Remains Defensive Below Multi-Month High Amid Risk-On Sentiment

Gold price (XAU/USD) came under selling pressure during the Asian session on Thursday, retreating from the multi-month high of $2,763–$2,764 touched the previous day. This decline halts a three-day winning streak. The US Dollar (USD) gained some strength from its recovery off a monthly low, supported by a rebound in US Treasury bond yields, and the upbeat sentiment in equity markets further dampened demand for the safe-haven metal.

Signs of easing inflation in the US have fueled expectations that the Federal Reserve (Fed) might cut interest rates twice this year, creating a potential headwind for US bond yields and the USD. However, ongoing uncertainty surrounding President Donald Trump’s tariff plans, which could increase trade tensions and market volatility, may help limit the downside for gold prices. Traders may remain cautious and wait for sustained selling pressure to confirm that the one-month uptrend has ended.

Risk-On Mood and Modest USD Rebound Cap Gold Gains

The USD steadied above its recent lows amid recovering Treasury yields, adding pressure to gold prices. In addition, easing geopolitical tensions and a lack of concrete details regarding Trump’s tariff policies have maintained a risk-on sentiment, further undermining gold’s appeal.

While Trump’s proposed tariff policies are considered inflationary, which could prompt the Fed to maintain a hawkish stance, markets are still pricing in at least two Fed rate cuts this year. This outlook may limit the upside for US bond yields and the USD, potentially supporting gold in the near term.

Investors are eyeing Trump’s speech at the World Economic Forum for more clarity on tariffs, alongside the release of US Weekly Jobless Claims, which could influence XAU/USD prices. Upcoming central bank rate decisions, including the Bank of Japan’s meeting on Friday and next week’s announcements from the Fed and the European Central Bank, could inject volatility into the market and impact gold prices.

Gold Price Technical Analysis

Key Support Levels:

  • Immediate support is seen near the $2,725–$2,720 zone, a former resistance-turned-support level.
  • Further declines could target the $2,700 mark, with a decisive break paving the way for a move toward the $2,665–$2,662 region.
  • The $2,627–$2,622 confluence, which includes the 100-day EMA and a short-term ascending trendline, will act as a critical pivot point for short-term traders.

Key Resistance Levels:

  • The recent high near $2,763–$2,764 offers the first resistance level.
  • A break above this zone could see gold prices challenge the all-time high around $2,790, reached in October.
  • The $2,800 mark is the next significant resistance, and a break above it would signal a continuation of the well-established uptrend over the past month.

Outlook:

Gold prices remain influenced by risk sentiment, central bank policy expectations, and USD movements. While near-term bearish factors may limit gains, uncertainty around US tariff policies and inflation trends could provide support, making any dips near key technical levels potential opportunities for dip-buying. Traders will remain focused on upcoming economic data and central bank decisions for further direction.

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Gold Price Consolidates Below $2,750 Amid Mixed Market Signals

Gold Price Consolidates Below $2,750 Amid Mixed Market Signals

Gold prices (XAU/USD) continue to trade within a narrow range near the $2,740 level during early European trading on Tuesday. The market remains influenced by conflicting factors, leaving traders hesitant to make strong directional moves.

US President Donald Trump’s renewed trade tariff threats have sparked inflationary concerns, driving a modest rebound in US Treasury bond yields. This, in turn, supports a recovery in the US Dollar (USD) from its recent one-month low, creating downward pressure on gold prices.

However, fears of potential economic disruptions from Trump’s trade policies are providing support for the safe-haven asset, helping limit its downside. Market participants are also exercising caution ahead of the upcoming two-day Federal Open Market Committee (FOMC) meeting, while US macroeconomic data due later in the day could further influence market sentiment.

Key Developments Impacting Gold Prices

  1. Trade Tariff Concerns:
    President Trump recently announced emergency tariffs of 25% on Colombian imports, though implementation was delayed following an agreement on the acceptance of illegal migrants returned from the US. Trump also signaled impending tariffs on pharmaceuticals, computer chips, aluminum, copper, and potentially steel. These moves have heightened fears of inflation and pushed US Treasury bond yields higher, bolstering the USD and weighing on gold.
  2. Monetary Policy Speculation:
    Despite Trump’s tariff announcements, markets are pricing in two potential 25-basis-point interest rate cuts by the Federal Reserve this year. This expectation could cap bond yields and limit USD gains, offering some support to gold prices.
  3. Data and Events to Watch:
    Later on Tuesday, US economic data such as Durable Goods Orders, the Conference Board’s Consumer Confidence Index, and the Richmond Manufacturing Index may provide additional trading cues. The spotlight will then shift to Wednesday’s FOMC decision, which could significantly impact USD dynamics and set the tone for gold’s next directional move.

Technical Outlook: Resistance and Support Levels

Gold prices showed resilience on Monday, holding above the 23.6% Fibonacci retracement level of the December-January uptrend. Daily chart oscillators remain in positive territory, reinforcing the case for an upward bias.

  • Support Levels:
    Immediate support lies near $2,730, followed by the $2,725-2,750 zone. A break below these levels could push prices toward the 38.2% Fibonacci retracement level near $2,707-2,705, and further to the 50% level around $2,684.
  • Resistance Levels:
    The nearest resistance is at $2,755-2,757, with further hurdles at $2,772-2,773 and $2,786. A decisive break above $2,800 would signal renewed bullish momentum, potentially leading to a test of the all-time high near $2,790 and further gains.

Outlook for Gold

Gold prices remain range-bound as traders weigh opposing forces of inflationary concerns and safe-haven demand. A move above $2,755-2,757 is necessary for bulls to regain control in the short term, while a break below $2,730 would signal deeper corrections. With critical economic data and the FOMC decision on the horizon, gold’s next big move may hinge on shifting market dynamics in the coming days.

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Supermicro Stock Skyrockets 29% After Investigation Clears Fraud Allegations

Super Micro Computer (NASDAQ: SMCI), popularly known as Supermicro, saw its stock price soar by 29% on Monday, closing around $42 per share. This significant jump follows the conclusion of a governance investigation that found no evidence of fraud or misconduct, boosting investor confidence.

Investigation Findings: No Fraud or Misconduct

The investigation, initiated by a special committee in August, addressed concerns raised by Ernst & Young (EY), Supermicro’s former auditor, regarding governance, sales practices, and financial reporting. Key findings include:

  1. Management Integrity: The committee found no substantial concerns regarding the integrity of Supermicro’s senior management, audit committee, or financial reporting practices.
  2. Audit Independence: The audit committee demonstrated appropriate independence and oversight during financial reporting.
  3. Rehiring Practices: The company’s decision to rehire certain employees was deemed consistent with a commitment to legal compliance and accurate financial reporting.

EY’s concerns were ultimately found unsupported, with the committee emphasizing the accuracy of interim and final findings.

Governance Overhaul and Next Steps

To strengthen its governance, Supermicro has embraced the committee’s recommendations, including:

  • Leadership Appointments: Hiring a new Chief Financial Officer (CFO), appointing Kenneth Cheung as Chief Accounting Officer, and recruiting a Chief Compliance Officer and General Counsel.
  • Enhanced Oversight: Improving internal accounting and compliance systems, with better training, monitoring, and oversight practices.

The company has also filed a compliance plan with Nasdaq to catch up on overdue financial reports, ensuring continued listing.

Stock Performance: Recovery in Progress

Supermicro’s stock had plummeted by 85% in mid-November, hitting $17 per share, following its October 10-for-1 stock split and governance concerns. However, confidence rebounded after the investigation’s positive findings. Since November 15, the stock has surged back to $42, marking a 48% year-to-date increase.

With a price-to-earnings (P/E) ratio dropping from 79 in March to 16, Supermicro’s valuation is now drawing comparisons to AI-driven market leaders like NVIDIA. Its focus on AI-enabled servers for high-performance computing positions it as a key player in the tech sector.

Investor Considerations

While the governance investigation cleared Supermicro of fraud, investors are advised to exercise caution until the company releases its delayed financial reports. These filings will provide deeper insights into its financial health and help solidify its recovery. For now, Supermicro’s low valuation and strong earnings potential make it a compelling, albeit cautious, investment opportunity.

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Asian Stocks Decline on Geopolitical Tensions; Nikkei Falls on Inflation Data

Asian Stocks Drop Amid Geopolitical Tensions; Nikkei Slides on Strong Inflation Data

Asian Stocks Drop Amid Geopolitical Tensions; Nikkei Slides on Strong Inflation Data

Asian equities fell on Friday as geopolitical concerns and strong economic data from Japan weighed on sentiment. The escalation of the Russia-Ukraine conflict further dampened risk appetite, while China’s tech sector provided a rare bright spot amid easing regulatory fears.

Key Market Highlights

Geopolitical Tensions Weigh on Markets
Russia intensified its attacks on Ukraine, targeting energy infrastructure and escalating the conflict. President Vladimir Putin issued threats to strike decision-making centers in Kyiv with ballistic missiles, exacerbating global geopolitical uncertainty.

Broad Declines Across Asia

  • Thailand’s SET Index: Dropped 0.2%.
  • Indonesia’s Jakarta Composite: Declined 0.8%.
  • South Korea’s KOSPI: Fell nearly 2%, driven by a 1.8% drop in Samsung Electronics and a 0.7% decline in SK Hynix. Concerns over slowing economic growth deepened after data showed declines in industrial output, retail sales, and facility investment in October.
  • Australia’s ASX 200: Edged 0.3% lower.
  • Malaysia’s KLCI: Dipped 0.2%.

Japan’s Nikkei Slips Amid Yen Strength
Japan’s Nikkei 225 fell 0.5%, and the TOPIX index declined 0.3% as the yen strengthened to a one-month high against the U.S. dollar. Strong inflation data from Tokyo fueled speculation of a Bank of Japan (BOJ) rate hike in December.

  • Tokyo’s core consumer prices exceeded expectations in November, highlighting persistent inflationary pressures.
  • BOJ Governor Kazuo Ueda signaled plans to tighten monetary policy further, supported by a “virtuous cycle” of rising wages and steady inflation.

Chinese Tech Stocks Buck the Trend
Contrary to broader declines, Chinese equities rallied:

  • Shanghai Shenzhen CSI 300: Rose 1.6%.
  • Shanghai Composite: Gained 1.4%.
  • Hang Seng Index: Jumped 1.3%.

Reports suggested that the U.S. may impose less severe sanctions on China’s semiconductor industry than initially feared.

  • Semiconductor Manufacturing International Corp (SMIC) surged over 4%.
  • Hua Hong Semiconductor climbed 3.7%.

Investors are optimistic about Beijing’s recent stimulus measures, and a Reuters poll anticipates modest growth in China’s manufacturing Purchasing Managers’ Index for November, due Saturday.

Outlook

The Asia-Pacific region remains under pressure from geopolitical risks and mixed economic signals. Japan’s inflation dynamics could shift BOJ policy, while China’s tech rally might offer temporary relief amid broader concerns of an economic slowdown.

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WTI Steady at $69 Amid Geopolitical Risks and US Crude Inventory Build

WTI Steadies Near $69.00 Amid Mixed Signals from Geopolitical Risks and US Crude Inventory Build

WTI Steadies Near $69.00 Amid Mixed Signals from Geopolitical Risks and US Crude Inventory Build

West Texas Intermediate (WTI), the US benchmark for crude oil, is trading near $68.95 during Thursday’s session, maintaining a steady stance amid conflicting market drivers. A modest build in US crude inventories and weak Chinese demand weigh on prices, while escalating geopolitical tensions between Russia and Ukraine offer potential support.

US Crude Inventory Build Weighs on Prices
The Energy Information Administration (EIA) reported an increase of 0.545 million barrels in US crude stockpiles for the week ending November 15, slightly above market expectations of a 0.400 million barrel rise but significantly lower than the previous week’s 2.089 million barrel build. The smaller-than-expected inventory increase adds mild pressure to oil prices.

Weak Chinese Demand Adds Downside Pressure
China’s demand for crude oil continues to show weakness, dampening the outlook for global consumption. In October, China’s crude oil demand fell by 5.4% year-on-year. The International Energy Agency (IEA) projects demand growth in China to reach just 140,000 barrels per day (bpd) for 2024, a sharp decline compared to the 1.4 million bpd growth seen in 2023.

Geopolitical Risks Provide Support
Heightened geopolitical tensions involving major oil producers Russia and Ukraine are keeping supply-side concerns alive. This week, Russia accused Ukraine of targeting a facility in the Bryansk region with ATACMS missiles, prompting Russian President Vladimir Putin to lower the threshold for a potential nuclear response. Such risks could disrupt oil supplies, offering a counterbalance to bearish demand factors.

John Kilduff, a partner at Again Capital, highlighted, “These risks to supply are definitely keeping the support here and offsetting to a degree concerns around the global demand outlook.”

Outlook
WTI prices remain at the mercy of mixed signals, with inventory builds and sluggish Chinese demand capping gains while geopolitical risks lend underlying support. Traders will look toward further updates on geopolitical developments and upcoming economic data to gauge the balance between supply and demand factors in the oil market.

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Gold Prices Under Pressure as Stronger USD Weighs Ahead of Fed Decision

Gold Prices Remain Under Pressure as Stronger USD Weighs Ahead of Fed Decision

Gold Prices Remain Under Pressure as Stronger USD Weighs Ahead of Fed Decision

Gold (XAU/USD) continues to trade lower for the second consecutive session on Thursday, impacted by a stronger U.S. Dollar following former President Donald Trump’s victory in the recent U.S. election. The dollar-denominated precious metal is seeing diminished safe-haven appeal as market optimism increases, supported by clearer political outcomes.

Investor focus is now on the upcoming U.S. Federal Reserve decision, with markets largely anticipating a 25 basis-point rate cut. If realized, this could offer some support for Gold, as lower interest rates tend to reduce the opportunity cost of holding non-yielding assets like precious metals. The CME FedWatch Tool currently indicates a 98.1% likelihood of this modest rate reduction.

Market Dynamics: Gold Struggles Amid Higher Yields and “Trump Trades”

Non-yielding Gold faces additional pressure from surging U.S. Treasury yields, with the 2-year and 10-year bond yields hitting 4.31% and 4.47%, respectively, their highest levels since July. Furthermore, the prospect of increased inflation due to Trump’s policy stance, which includes higher trade tariffs and fiscal spending, could prompt some investors to seek Gold as a long-term inflation hedge.

Trump’s proposed economic policies—such as imposing tariffs, expanding the fiscal deficit, and cutting taxes—might conflict with the Federal Reserve’s inflation control goals, likely resulting in a slower pace of monetary easing.

Gold prices have been relatively unaffected by ongoing geopolitical tensions, including Iran’s warning of potential retaliation against Israel’s recent actions.

Additionally, mixed U.S. economic data from this week’s ISM and PMI releases reflect a resilient services sector. The ISM Services PMI rose to 56.0 in October from 54.9 in September, exceeding forecasts, while the S&P Global Services PMI reported a slight dip, coming in at 55.0.

Technical Outlook: Key Support and Resistance Levels for Gold

Gold currently trades near $2,650 per ounce, with technical indicators suggesting a continuation of bearish momentum. On the daily chart, Gold remains below the nine- and 14-day Exponential Moving Averages (EMAs), and the 14-day Relative Strength Index (RSI) remains under 50, both indicating a bearish trend.

On the downside, the next support level sits around $2,603.53, representing a three-week low. A break below this level could push Gold toward the critical $2,500 mark.

Conversely, immediate resistance is found near the psychological level of $2,700, with further resistance at the nine-day EMA of $2,711.40. A breakout above this zone could position Gold to retest its recent high of $2,790.11 reached on October 31.

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Gold Price Holds Steady Near Record High, Awaits US Macro Data for Direction

Gold Price Holds Steady Near Record High, Awaits US Macro Data for Direction

Gold price (XAU/USD) remains robust as it approaches the European session on Tuesday, trading just above the $2,750 mark and close to last week’s all-time high. Geopolitical risks and political uncertainties in the US continue to boost demand for the safe-haven metal. Additionally, lower US Treasury yields and cautious market sentiment lend further support to gold.

At the same time, expectations for smaller Federal Reserve (Fed) rate cuts are expected to support US bond yields, which could help the US Dollar (USD) recover some of the previous session’s losses. This, in turn, tempers new bullish momentum in non-yielding gold as investors await key US economic data releases this week, likely to influence the Fed’s rate outlook and provide new direction for XAU/USD.

Market Movers: Gold Supported by Mixed Factors, USD Buying Limits Gains

The retreat in US Treasury yields led to an intraday pullback in the USD from recent highs, encouraging some dip-buying near $2,725 early this week. Recent positive US data dampened expectations for substantial Fed rate cuts, potentially bolstering bond yields amid concerns about deficit spending after the November 5 election. With the US election drawing near, markets face additional uncertainty as Vice President Kamala Harris and Republican candidate Donald Trump engage in a close race for the presidency. Moreover, heightened tensions in the Middle East have added to market caution, with the US warning Iran of potential consequences if it continues retaliatory strikes.

In the broader market, China reported an 11.18% decline in gold consumption year-over-year for the first three quarters, citing high prices as a dampening factor on jewelry demand. Investors now eye the upcoming US Consumer Confidence Index and Job Openings and Labor Turnover Survey (JOLTS) for insight into the Fed’s rate plans and USD dynamics, likely to affect short-term gold price movements.

Technical Outlook: Gold Awaits Breakout for Bulls to Regain Control

On the technical front, a sustained move above the $2,750 resistance could trigger further buying interest, pushing gold prices past the all-time high around $2,759 and towards the four-month-old ascending trend-line resistance at $2,770–2,775. A continued rally could eventually target the psychological $2,800 level.

However, the Relative Strength Index (RSI) on the daily chart is approaching overbought levels, signaling potential caution for bulls. A short-term consolidation or minor pullback could provide a better entry for additional upside.

If a corrective decline occurs, support could emerge near the $2,725 level, followed by $2,715—the lower boundary of a recent trading range. A decisive break below this range might prompt technical selling, potentially leading gold prices below $2,700 and toward the $2,675 and $2,657–2,655 support areas.

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WTI Struggles Below $70 Amid Demand Concerns and USD Strength

WTI Struggles Below $70 Amid Demand Concerns and USD Strength

WTI Struggles Below $70 Amid Demand Concerns and USD Strength

West Texas Intermediate (WTI) crude oil prices are hovering just below the $70.00 mark during Tuesday’s Asian session, remaining in a tight range around $69.70-$69.75. The commodity has struggled to build on the previous day’s modest gains and stays near the three-week low it touched last Friday. WTI seems vulnerable to continuing its recent downtrend, which has persisted for over two weeks.

The brief positive reaction to the People’s Bank of China’s (PBOC) interest rate cut on Monday was short-lived, as concerns about slowing demand, particularly from China, continued to weigh on oil prices. Both OPEC and the International Energy Agency (IEA) reduced their global demand forecasts last month due to economic challenges in China, the world’s largest oil importer. IEA chief Fatih Birol further fueled these concerns, warning that China’s economic weakness could dampen global oil demand for years to come.

Adding to WTI’s challenges, the US Dollar (USD) has surged to its highest level since early August, driven by expectations of more cautious monetary easing from the Federal Reserve (Fed). A stronger USD tends to weigh on oil prices by making crude more expensive for holders of other currencies.

However, the potential for further escalation in the Middle East conflict, which could disrupt oil supplies from the region, provides some support to WTI prices. This geopolitical risk cautions against overly bearish positions, despite the recent sharp drop from the nearly two-month high of $78.00 reached on October 8.

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Gold Price Stays Steady Above $2,170, Maintaining Bullish Momentum

Gold Price Stays Steady Above $2,170, Maintaining Bullish Momentum

Gold prices (XAU/USD) are experiencing difficulty in building upon their modest overnight gains, remaining within a tight trading range during the early European session on Tuesday. Market participants are taking a cautious approach, preferring to wait for the upcoming release of the US Personal Consumption and Expenditure (PCE) Price Index on Friday. This key data is expected to significantly influence market perceptions about the Federal Reserve’s (Fed) future rate cut strategy, potentially offering a new direction for the non-yielding yellow metal.

The US central bank, in its recent announcement, stated its plan to reduce interest rates by 75 basis points in 2024. This decision is causing a downward pressure on US Treasury bond yields, subsequently impacting the US Dollar (USD) and providing some support to gold prices. Additionally, ongoing geopolitical tensions, particularly the prolonged conflict between Russia and Ukraine, along with unrest in the Middle East, are maintaining gold’s status as a safe-haven asset, suggesting a continued upward trajectory.

The focus now shifts to the US economic calendar, which includes significant releases such as Durable Goods Orders, the Conference Board’s Consumer Confidence Index, and the Richmond Manufacturing Index, all due in the early North American session. These indicators, alongside movements in US bond yields, are expected to influence USD demand and thereby affect gold prices. Furthermore, the general mood of global risk will also play a crucial role, offering short-term trading opportunities around XAU/USD.

Given these circumstances, gold remains a key asset to watch. While the immediate outlook is constrained by the wait-and-see approach ahead of crucial economic data, underlying factors such as the Fed’s rate policy and global geopolitical concerns are providing a supportive backdrop. Investors and traders will be keeping a close eye on the US data releases and global events to gauge the next significant move in gold prices. As the week progresses, the anticipation around the PCE Price Index will likely heighten, setting the stage for potential volatility in the gold market.

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Oil Price Surge May Limit Gains

WTI Holds Modest Gains, Trading Above Mid-$81 with Bullish Outlook Intact

WTI Holds Modest Gains, Trading Above Mid-$81 with Bullish Outlook Intact

On Thursday, during the Asian trading session, West Texas Intermediate (WTI) US Crude Oil prices experienced a notable upturn, attracting buyers and reversing some of the downward movement seen the previous day. The commodity is currently trading around the $81.70 region, maintaining proximity to its over four-month peak reached earlier in the week, signaling a robust upward momentum in the oil market.

This recent increase in oil prices can be partly attributed to the Federal Reserve’s (Fed) latest policy stance. In its March policy meeting concluded on Wednesday, the Fed maintained its projection for three interest rate cuts this year. Such a monetary policy tends to weaken the US Dollar (USD), which, in turn, boosts the appeal of USD-denominated commodities, including Crude Oil. The devaluation of the dollar makes these commodities more affordable for holders of other currencies, thus potentially increasing demand.

Moreover, Fed Chair Jerome Powell’s acknowledgment of the strength in the US economy further bolsters the positive outlook for oil demand. A strong economy typically correlates with higher energy consumption, as industrial, transportation, and commercial activities tend to increase, driving up the demand for oil.

Additionally, recent developments in oil inventory and geopolitical factors are influencing oil prices. The US Energy Information Administration (EIA) released a report on Wednesday showing an unexpected decline in crude inventories. The report indicated a reduction of 2 million barrels, bringing the total down to 445 million barrels for the week ending March 15. This decline in stockpiles suggests a tightening in the oil market, often a precursor to higher prices.

The geopolitical landscape also plays a critical role in shaping oil market dynamics. Current concerns about potential supply disruptions due to geopolitical tensions in Russia and the Middle East are contributing to the upward trend in oil prices. These regions are significant contributors to global oil supply, and any disruption could lead to a decrease in supply, pushing prices higher.

Market participants are now closely monitoring the release of flash PMIs, which offer insights into the global economic health and, consequently, fuel demand. These indicators, coupled with the USD’s price dynamics, are expected to create short-term trading opportunities around oil prices. The fundamental backdrop, characterized by a weakening dollar, reduced oil inventories, and geopolitical uncertainties, seems to favor bullish traders. This environment suggests that any substantial corrective declines in oil prices could be perceived as attractive buying opportunities, with downward movements likely to be short-lived.

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Gold Price Nears One-Week Low, Vulnerable Due to Hawkish Fed Forecasts

Gold Price Nears One-Week Low, Vulnerable Due to Hawkish Fed Forecasts

As the European trading session commences on Tuesday, the price of gold (XAU/USD) is encountering fresh selling pressure. The precious metal appears to be halting its modest overnight recovery from the $2,145 region, marking its lowest point in over a week. A key factor influencing this trend is the anticipation that the Federal Reserve (Fed) will maintain its stance on high interest rates for an extended period, driven by persistently high inflation in the United States. This expectation sustains the strength of US Treasury bond yields, which in turn bolsters the US Dollar (USD) to near a two-week peak. The strengthened USD is a major element that negatively impacts the value of gold, which is a non-yielding asset.

Despite these pressures, the market still harbors expectations that the Fed might initiate a cycle of rate cuts as soon as June. This prospect, combined with ongoing global geopolitical uncertainties, could lend some support to gold prices, viewed as a safe-haven asset, thereby potentially mitigating further losses. Furthermore, ahead of the critical two-day Federal Open Market Committee (FOMC) policy meeting starting this Tuesday, traders are likely to exhibit caution, avoiding aggressive directional bets on the gold market. This meeting is highly anticipated, as investors are eager to discern any indications regarding the Fed’s future rate-cut trajectory. The outcomes of this meeting are expected to significantly influence the demand for the USD, and consequently, provide important momentum to the gold market.

In summary, while the current macroeconomic environment and monetary policy expectations pose challenges to gold prices, factors like potential Fed rate cuts and global tensions could provide some buoyancy. Investors and traders are closely watching the upcoming FOMC meeting for further direction, making this a critical juncture for the gold market and its short-term trajectory.

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WTI Holds Steady Near $68.50 Amid US Dollar Strength

WTI Stabilizes Near $78.50 Following Recent Upsurge Due to Changes in US Crude Oil Inventories

WTI Stabilizes Near $78.50 Following Recent Upsurge Due to Changes in US Crude Oil Inventories

During the Asian trading hours on Thursday, the West Texas Intermediate (WTI) crude oil price experienced a slight decline, hovering around $78.50 per barrel. This movement follows a notable surge on Wednesday, primarily fueled by developments in the US crude oil inventory data.

The US Energy Information Administration (EIA) reported that for the week ending March 1, crude oil stockpiles increased for the sixth consecutive week. The build-up was recorded at 1.367 million barrels, which was lower than the market’s anticipated increase of 2.116 million barrels and significantly less than the previous week’s rise of 4.199 million barrels. In a similar vein, the American Petroleum Institute (API) Weekly Crude Oil Stock data indicated a build in inventories of 0.423 million barrels. This outcome defied market expectations, which predicted a decrease of around 2.6 million barrels from the previous figure of 8.428 million barrels.

Furthermore, crude oil prices were buoyed by a weakening US Dollar (USD) in the wake of comments by Federal Reserve Chair Jerome Powell. During his testimony before the House Financial Services Committee, Powell hinted at the possibility of the central bank reducing borrowing costs “at some point this year.” A weaker dollar generally makes oil cheaper for holders of other currencies, which can increase demand.

The optimistic outlook on China’s economy also lent support to oil prices. China’s Trade Balance for February impressively climbed to $125.16 billion, exceeding expectations of $103.7 billion and markedly higher than the prior $75.34 billion. Year-on-year, both imports and exports from China grew by 3.5% and 7.1%, respectively, indicating a rebound in economic activity which could translate into higher energy demand.

Additionally, oil prices are reacting to geopolitical factors. Notably, Saudi Arabia, a key member of the Organization of the Petroleum Exporting Countries (OPEC+), raised the prices of its primary oil grade for Asian buyers. This decision came in the wake of OPEC+ agreeing to extend their voluntary oil output cuts of 2.2 million barrels per day (bpd) into the second quarter, aiming to stabilize the market amid fluctuating global demand and supply conditions.

All these factors collectively influence the WTI price, as the global oil market continues to respond to a complex interplay of inventory levels, currency fluctuations, geopolitical decisions, and broader economic indicators.

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US PCE Data Approaches

WTI Stays Under $78.00 as US PCE Data Approaches

WTI Stays Under $78.00 as US PCE Data Approaches

Western Texas Intermediate (WTI), the benchmark for US crude oil, is currently hovering around $77.75 as of Thursday. The WTI prices have seen a slight decline, influenced by the Federal Reserve’s (Fed) decision to postpone initial rate cuts and the pressure from increasing US oil inventories.

Recent reports indicate a substantial rise in US crude oil stocks. The American Petroleum Institute (API) reported an increase of 8.428 million barrels in the week ending February 23, up from a build of 7.168 million barrels in the preceding week. Complementing this data, the Energy Information Administration (EIA) revealed that crude oil stockpiles rose by 4.199 million barrels last week, exceeding the previous increase of 3.514 million barrels.

In an effort to manage oil supply, the Organization of the Petroleum Exporting Countries (OPEC) and its allies, including a key player, Saudi Arabia, agreed last November to cut oil production by 2.2 million barrels per day in the first quarter of the year. Additionally, there is speculation that OPEC+ might extend these voluntary output reductions into the second quarter, potentially leading to tighter market conditions.

Concurrently, recent remarks from Federal Reserve officials suggest a delay in interest rate reductions. This could potentially slow economic growth and reduce oil demand. Philadelphia Fed President Patrick Harker recently advocated for a gradual and cautious approach to rate cuts to mitigate risk and uncertainty. Fed Governor Bowman noted that while inflation is expected to decline with current interest rates, it is premature to begin rate reductions. Kansas City Fed President Schmid echoed these sentiments, pointing out the unnecessary nature of preemptive policy adjustments given the current economic conditions, including above-target inflation and tight labor markets.

Market participants are now turning their attention to the upcoming US Core Personal Consumption Expenditures Index (Core PCE) data, expected on Thursday. Forecasts suggest a drop to 2.8% year-over-year for January. This data, pivotal for the USD-denominated WTI pricing, is likely to influence oil traders, who will be looking for trading opportunities based on the outcomes and their impact on WTI prices.

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WTI Oil Price Stays Around $77.30 Amid Potential

WTI Oil Price Stays Around $77.30 Amid Potential Supply Interruptions and Russian Ban on Gasoline Exports

WTI Oil Price Stays Around $77.30 Amid Potential Supply Interruptions and Russian Ban on Gasoline Exports

The West Texas Intermediate (WTI) oil prices are experiencing a surge, primarily influenced by geopolitical tensions and disruptions in international sea traffic. These disruptions have been notably caused by Iran-aligned Houthi militants. During the European trading session on Tuesday, WTI prices have been observed hovering around the $77.30 mark. 

The Houthi militants, based in Yemen, have escalated their activities, extending their reach to global communication systems. A recent development involves the disruption of key underwater cables that are crucial for connectivity between Europe and Asia. This strategic move by the Houthi group has raised concerns over potential impacts on international communication and trade.

Compounding the situation is Russia’s recent announcement of a six-month ban on gasoline exports, effective from March 1. This decision by the Russian government, as reported by Russia’s RBC and endorsed by Prime Minister Mikhail Mishustin, is an attempt to stabilize domestic oil prices during a period of refinery maintenance. Deputy Prime Minister Alexander Novak had proposed this ban in a letter dated February 21, emphasizing the need for internal market stabilization in Russia.

The geopolitical landscape in the Middle East is also affecting crude oil prices. The targeting of civilian shipping vessels in the Red Sea by Houthi militants has led to heightened security concerns in the region. In response, the United States Military Central Command (CENTCOM) has launched attacks against Houthi targets, reportedly destroying missiles, unmanned vessels, and a drone in an effort to protect international shipping routes.

Adding to the regional tensions, Israeli Prime Minister Benjamin Netanyahu has announced plans for military action in Rafah, a city currently hosting a large number of displaced Palestinians. The situation in the Middle East is further complicated by ongoing negotiations to halt Israeli military actions in Gaza. US President Joe Biden has expressed optimism about reaching an agreement within a week, which would hinge on the release of hostages held by Hamas.

These series of events – from the disruption of international sea traffic by Houthi militants, the Russian ban on gasoline exports, to the escalating tensions in the Middle East – collectively contribute to the volatile state of oil prices. The global oil market remains sensitive to these geopolitical developments, with WTI prices reacting to the unfolding situations and the potential implications on global supply and demand dynamics.

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Gold Price Hovers Near 50-Day SMA Amid Soft USD

Gold Price Hovers Near 50-Day SMA Amid Soft USD, Lacking Bullish Momentum

Gold Price Hovers Near 50-Day SMA Amid Soft USD, Lacking Bullish Momentum

The Gold price (XAU/USD) continues its upward trajectory for the sixth consecutive day, reaching above the $2,030 level in the early European trading session. This marks a climb closer to the over one-week high achieved the day before. Despite the Federal Reserve’s (Fed) assertive stance on maintaining higher interest rates, the US Dollar (USD) experiences a downturn, hitting a three-week low. This weakening of the USD emerges as a crucial factor bolstering gold’s value.

In addition to the softer dollar, growing concerns over geopolitical tensions, particularly those arising from conflicts in the Middle East, have further enhanced gold’s appeal as a safe-haven asset. This geopolitical backdrop has played a significant role in supporting the metal’s upward price movement.

Concurrently, the minutes from the January Federal Open Market Committee (FOMC) meeting have reinforced market expectations that the Fed is likely to sustain elevated interest rates for an extended period. This policy is in response to persistently high inflation rates and the resilience of the US economy. The affirmation of this stance is supportive of higher yields on US Treasury bonds. These elevated yields are expected to provide some buffer against deeper losses for the USD, which in turn could serve as a counterbalance to the rising prices of non-yielding assets like gold.

Moreover, the generally upbeat sentiment in the equity markets also plays a role in the gold market dynamics. While gold prices are gaining, the positive atmosphere in stock markets suggests a level of risk appetite among investors, which might temper the rally in gold prices. Investors and traders are thus advised to look for a consistent breakthrough and stabilization above the 50-day Simple Moving Average (SMA) before placing new bullish bets on the XAU/USD pair.

Overall, the current scenario presents a complex interplay of factors influencing gold prices. The weakened USD, geopolitical tensions, Fed’s monetary policy, bond yields, and the global equity market sentiment are all contributing to the gold market’s dynamics. As these factors continue to evolve, they will likely shape the future direction of gold prices, necessitating careful monitoring by investors and traders to navigate this multifaceted environment effectively.

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EUR/USD Price Forecast

EUR/USD Price Forecast: Consolidating Below 1.0500 Amid Multi-Week High

The EUR/USD currency pair is having a hard time continuing its recent winning streak, trading in a tight range just below the 1.0500 psychological mark during the Asian session on Monday. In spite of the consolidation, the pair is still close to its three-week high of Friday, buoyed by a weaker US Dollar (USD).

Technically, the pair‘s location above the 38.2% Fibonacci retracement level of the November-January bear run, combined with upbeat oscillators on the daily chart, indicates that the bullish momentum is still intact. This leaves room for a potential rally towards the 1.0545-1.0555 resistance area, which coincides with the 50% Fibonacci retracement level and the 100-day Exponential Moving Average (EMA).

A successful breach above this crucial barrier may set the stage for additional gains, with EUR/USD potentially challenging the 1.0600 level. A break above this level may propel the pair towards the December 2024 swing high of 1.0630, close to the 61.8% Fibonacci retracement level. Further bullish momentum may continue to drive the rebound from its more than two-year low in January.

To the contrary, however, the 38.2% Fibonacci level of 1.0465 acts as an instant support level. A resolute breach through this area can drive selling momentum faster, pulling the pair towards the 1.0400 round number and down further into the mid-1.0300s (23.6% Fibonacci level). Failure to hold these levels could shift the bias in favor of bearish traders, potentially exposing the 1.0200 handle.

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EUR/USD Eases Near

EUR/USD Eases Near 1.0300 Ahead of Lagarde’s Speech

The EUR/USD pair edges lower to approximately 1.0310 during the Asian session on Monday, weighed down by a stronger US Dollar (USD). Market participants are focused on the upcoming Eurozone Sentix Investor Confidence data for February and a speech by European Central Bank (ECB) President Christine Lagarde later in the day.

On Friday, former US President Donald Trump announced plans to introduce reciprocal tariffs on multiple countries by Tuesday or Wednesday, though he did not specify which ones. This move has heightened concerns about a global trade war, fueling demand for the safe-haven USD.

“The immediate concern might not be inflation, as counter-effects like a demand slowdown could come into play. However, the bigger issue is uncertainty and the shift toward a more protectionist world,” said Charu Chanana, Chief Investment Strategist at Saxo.

Meanwhile, the Euro faces pressure from growing expectations of further ECB rate cuts amid sluggish economic growth. ECB Governing Council member Boris Vujcic stated that the market’s anticipation of three rate cuts this year is reasonable. However, he emphasized that greater clarity on monetary policy direction may not emerge until early in the second quarter.

Traders will keep a close eye on US trade policies, especially Trump’s repeated threats against Europe. JPMorgan economist Nora Szentivanyi noted that the objectives, timing, and tariff rates remain unclear. Nonetheless, the European Commission has stated it would retaliate firmly against any tariffs imposed by the US.

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EUR/USD Holds Below 1.0400 Ahead of Eurozone Retail Sales Data

EUR/USD Struggles Below 1.0400 Ahead of Eurozone Retail Sales Data

EUR/USD is trading lower around 1.0390 in the Asian session on Thursday, extending losses following a two-day recovery. Investors remain wary ahead of the release of Eurozone Retail Sales data later today.

Market predictions suggest that Eurozone retail sales scaled by 1.9% year on year in December, up from the previous 1.2% increase. However, the monthly number is expected to fall by 0.1%, erasing the 0.1% increase reported in November.

The euro remains under pressure as market sentiment points to further monetary easing by the European Central Bank (ECB). Policymakers feel optimistic that inflation will steadily return to the ECB’s 2% objective, lessening the need for additional tightening.

Meanwhile, the US Dollar Index (DXY), which tracks the dollar against six major currencies, has stabilized at 107.70, restricting EUR/USD’s upside potential. The dollar’s resiliency comes after a three-day losing skid, which puts pressure on the pair.

On Thursday, Federal Reserve Vice Chair Philip Jefferson reiterated his desire for keeping existing interest rates, underlining that the Fed’s policy remained restrictive despite the 100-basis-point drop. Meanwhile, San Francisco Federal Reserve President Mary Daly emphasized the central bank’s cautious attitude in the face of prolonged economic uncertainties.

The dollar weakened on Wednesday following a disappointing US Services PMI reading. The ISM Services PMI dropped to 52.8 in January from a revised 54.0 in December, falling short of the market consensus of 54.3. Looking ahead, traders are watching Friday’s US Nonfarm Payrolls (NFP) report, which might influence the Federal Reserve’s next policy actions.

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EUR/USD Stuck in Range Near 1.0375-1.0380 as Bulls Struggle for Direction

EUR/USD Struggles for Clear Direction, Stays Range-Bound Near 1.0375-1.0380

The EUR/USD pair continues in consolidation mode, failing to build on its recent recovery from the 1.0200 region—the lowest level since January 13. After reaching a weekly high earlier on Wednesday, the pair is fluctuating within a narrow range around 1.0375-1.0380, showing little change for the day amid mixed market signals.

Tuesday’s Job Openings and Labor Turnover Survey (JOLTS) indicated a cooling U.S. labor market, reinforcing expectations of Federal Reserve (Fed) policy easing. Markets are now factoring in the likelihood of two rate cuts by the Fed this year. Risk-on sentiment also remains prevalent, but should continue to weigh on demand for the safe-haven USD, and thereby support EUR/USD.

Upside momentum, however remains constrained by issues on the introduction of U.S. tariffs over the goods to be imported in Europe under Trump’s administration, among others, and the ECB dovish direction which is being felt in restraining the Euro though HICP was reported higher to an annual rate of 2.5% in the last month, still, does not allow much upside in this pair.

Looking ahead, market participants will focus on the final Eurozone Services PMI release, while the U.S. economic calendar highlights the ADP private-sector employment report and the ISM Services PMI. Movements in the USD could also be influenced by key FOMC member speeches. Still, Friday’s NFP report will focus more attention on it as it will help deliver a better picture of the situation in the U.S. labor market and set the direction for future Fed policy.

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GBP/USD Holds Above 1.2400 as Markets Watch China Tariff Developments

GBP/USD Holds Above 1.2400 as Markets Watch China Tariff Developments

GBP/USD extends its gains for a second consecutive session, trading around 1.2430 during Asian market hours on Tuesday. With  the  decision   by   U.S. President Donald Trump   to pause tariffs on Mexico and Canada , the pair benefits from a risk-on sentiment .

Despite this, investors continue to pay close attention to ongoing trade negotiations, making market volatility a major concern. Trump declared that he would postpone imposing high tariffs on Canada and Mexico for at least 30 days following their agreements to send 10,000 troops to the U.S. border to fight drug trafficking.

This move follows Trump’s recent decision to impose 25% tariffs on Mexican and Canadian goods, along with a 10% tariff on Chinese imports. Additional tariffs on China are anticipated to go into effect Tuesday at 5:00 GMT. Trump managed to say that talks with Chinese officials might happen “probably over the next 24 hours,” and that tariffs on China would be “very, very substantial” if an agreement could not be made.

Meanwhile, the U.S. Dollar Index (DXY), which tracks the USD against six major currencies, hovers around 108.70 after erasing most of its gains from the previous session. Strong U.S. economic data could provide support for the greenback, as the ISM Manufacturing PMI climbed to 50.9 in January from 49.3 in December, surpassing the expected 49.8.

While GBP/USD may rise, the British Pound’s upside may be limited, given the expectation that the Bank of England (BoE) will cut interest rates once again. Despite rising wages in the UK, the BoE is expected to lower interest rates by 25 basis points to 4.5% on Thursday.

The BoE’s Monetary Policy Committee (MPC) is expected to vote 8-1 in favor of the rate cut, with one member likely advocating for maintaining rates at their current level for now.

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EUR/USD Drops to 1.0200 on Trump’s Trade Tariffs

EUR/USD Slumps to Multi-Week Low Near 1.0200 Amid Trump’s Trade Tariffs

The EUR/USD pair extends its decline on Monday, plunging to the 1.0200 region—a three-week low—during the early Asian session. This drop brings the pair closer to its lowest level in over two years, last seen in January, reinforcing the ongoing multi-month downtrend.

The US Dollar (USD) gains broad strength following President Donald Trump’s weekend announcement of new tariffs: 25% duties on imports from Canada and Mexico, along with an additional 10% tariff on Chinese goods. These measures escalate global trade tensions, dampening investor appetite for riskier assets and boosting demand for the safe-haven USD. As a result, the EUR/USD pair faces renewed selling pressure.

Adding to the bearish sentiment, Trump also declared on Friday evening that he would impose tariffs on goods from the European Union. This, coupled with the European Central Bank’s (ECB) dovish stance, further weighs on the euro. Last Thursday, the ECB cut borrowing costs by 25 basis points (bps) as expected and signaled the possibility of additional rate cuts before the year’s end, exacerbating the euro’s weakness.

The policy divergence between the ECB and the Federal Reserve (Fed) further tilts market sentiment in favor of the USD. While the Fed has opted for a hawkish pause, supporting the dollar’s strength, a recent pullback in US Treasury yields may limit further USD gains and offer some relief to the EUR/USD pair. However, the overall market outlook suggests that the pair’s downside momentum is likely to persist.

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EUR/USD Holds Above 1.0400 | Focus on Q4 GDP & ECB Policy Decision

EUR/USD Holds Above 1.0400 Ahead of Q4 GDP Data and ECB Policy Decision

The EUR/USD pair is edging higher after three consecutive losses, trading near 1.0420 during Thursday’s Asian session. The rebound is primarily driven by a technical pullback in the US Dollar (USD). Meanwhile, the US Dollar Index (DXY), which tracks the greenback against six major currencies, remains just below 108.00.

Despite the recent uptick, further gains for EUR/USD may be capped as the USD could regain strength following the Federal Reserve’s (Fed) cautious approach to monetary policy. The Fed reinforced its hawkish stance by removing language suggesting confidence in inflation reaching its 2% target.

During his press conference, Fed Chair Jerome Powell emphasized that any policy changes would require “real progress on inflation or some weakness in the labor market.” As expected, the Fed maintained its overnight borrowing rate at 4.25%-4.50% during its January meeting on Wednesday. This decision follows three consecutive rate cuts since September 2024, totaling a one-percentage-point reduction.

Meanwhile, the Euro faces downward pressure as the European Central Bank (ECB) is widely expected to cut interest rates by 25 basis points in its policy meeting on Thursday, lowering the Deposit Rate to 2.75%. Market sentiment suggests that further rate cuts from the ECB may follow in the coming months, potentially weighing on the Euro.

Investors will closely watch the release of fourth-quarter Gross Domestic Product (GDP) data from the Eurozone and Germany on Thursday. Later in the day, focus will shift to the US Annualized GDP report, which could influence market sentiment and currency movements.

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Bank of Japan Stance

Japanese Yen Weakens Amid Dovish Bank of Japan Stance

Japanese Yen Weakens Amid Dovish Bank of Japan Stance

The Japanese Yen (JPY) continues to weaken against the US Dollar (USD) for the second consecutive day, largely due to dovish comments from Bank of Japan (BoJ) Deputy Governor Shinichi Uchida on Wednesday. According to Reuters, Uchida stated, “We won’t raise rates when markets are unstable,” highlighting the BoJ’s cautious approach.

Deputy Governor Uchida also indicated that the BoJ’s interest rate policy may be adjusted if market volatility impacts economic forecasts, risk assessments, or projections. Given the recent market instability, he stressed the importance of closely monitoring the economic and price effects of their policies, adding, “We must maintain the current degree of monetary easing for the time being.”

Despite the JPY’s weakness, the USD/JPY pair’s upside may be capped as the US Dollar faces headwinds, with market participants increasingly expecting a significant rate cut by the Federal Reserve (Fed) starting in September. The CME FedWatch tool now shows a 67.5% probability of a 50-basis point (bps) rate cut by the Fed in September, up from 13.2% just a week ago.

Japanese Yen Weakens Following BoJ’s Uchida Remarks

Japan’s Chief Cabinet Secretary Yoshimasa Hayashi commented on Tuesday that “wage increases are expected to extend to part-timers and small businesses by autumn, supported by strong Shunto results and minimum wage hikes.” However, Hayashi did not address current foreign exchange levels.

Japan’s Labor Cash Earnings data for June showed a 4.5% year-on-year increase in average income, exceeding both the previous 2.0% and the expected 2.3% figures. This marks the highest rise since January 1997 and reinforces the possibility of Japan moving towards a higher interest rate environment.

Meanwhile, US Federal Reserve officials have shared their views on the economic outlook. Federal Reserve Bank of San Francisco President Mary Daly expressed confidence on Monday that US inflation is moving towards the Fed’s 2% target. She noted, “Risks to the Fed’s mandates are becoming more balanced,” suggesting a potential openness to rate cuts in upcoming meetings.

Chicago Fed President Austan Goolsbee also remarked on Monday that the central bank is ready to act if economic or financial conditions deteriorate. He emphasized, “We’re forward-looking about it, and so if conditions collectively start deteriorating on any of those fronts, we’re going to address it,” as reported by Reuters.

The minutes from the BoJ’s June meeting revealed concerns among some members about rising import prices due to the Yen’s recent decline, which could increase inflationary pressures. One member warned that cost-push inflation could elevate underlying inflation if it leads to higher inflation expectations and wage growth.

In its Quarterly Outlook Report released on Thursday, the BoJ noted the potential for wages and inflation to exceed expectations, driven by heightened inflation expectations and a tight labor market.

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Gold Price Trades with Modest Losses

Gold Price Trades with Modest Losses Below $2,400, Downside Potential Appears Limited

Gold Price Trades with Modest Losses Below $2,400, Downside Potential Appears Limited

Gold (XAU/USD) is struggling to build on the previous day’s rebound from the 50-day Simple Moving Average (SMA) support around the $2,365-$2,364 region, a one-week low, attracting some intraday selling pressure on Tuesday. The dip is driven by renewed US Dollar (USD) strength, supported by rising US Treasury bond yields and a risk-on sentiment, which has pushed the safe-haven metal below the $2,400 mark.

However, expectations for more substantial interest rate cuts by the Federal Reserve (Fed) are likely to cap US bond yields and limit the Greenback’s gains. Additionally, geopolitical tensions from ongoing conflicts in the Middle East may further support Gold prices, keeping the downside limited. Given the lack of significant US economic data releases, caution is warranted before betting on an extended decline from last week’s near all-time highs.

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Gold Price Stabilizes Amid Firm Fed Rate

Gold Price Stabilizes Amid Firm Fed Rate-Cut Bets and Middle East Conflicts

Gold Price Stabilizes Amid Firm Fed Rate-Cut Bets and Middle East Conflicts

Gold (XAU/USD) has recovered to trade above $2,440 after dipping near $2,410 during Monday’s European session. The precious metal faced selling pressure as traders booked profits while it attempted to reclaim its all-time highs above $2,480. Despite this, the overall outlook for gold remains strong, supported by declining US bond yields.

The yield on 10-year US Treasury bonds has dropped to 3.67%, fueled by growing speculation that the Federal Reserve (Fed) will cut interest rates in September. Lower yields on interest-bearing assets reduce the opportunity cost of holding non-yielding assets like gold. Concurrently, the US Dollar Index (DXY), which measures the dollar’s value against six major currencies, has fallen to its March low near 102.60.

According to the CME Fed Watch tool, 30-day Federal Funds futures pricing suggests that traders see a 50-basis point (bp) rate cut in September as highly likely. The data also indicates that the Fed is expected to reduce its key borrowing rates by more than 100 bps over the course of this year.

Expectations for larger rate cuts have been driven by a series of weak economic reports from the United States, indicating a potential economic slowdown and raising concerns about the Fed’s ability to achieve a “soft landing”—curbing inflation without triggering a recession.

Deteriorating labor market conditions and a sharp decline in the manufacturing sector are key factors behind the increased expectations for significant rate cuts. The July Nonfarm Payrolls (NFP) report revealed a marked slowdown in labor demand, with the unemployment rate unexpectedly rising to its highest level since November 2021.

New payrolls came in at 114,000, well below the estimates of 175,000 and June’s figure of 179,000. The unemployment rate increased to 4.3%, surpassing expectations and the previous release of 4.1%. Meanwhile, manufacturing activity, as indicated by the ISM Manufacturing Purchasing Managers Index (PMI), contracted more rapidly, falling to 46.8 in July.

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Yen Weakens as Dollar Gains Amid Risk-Off Sentiment

Yen Weakens as Dollar Gains Amid Risk-Off Sentiment

Yen Weakens as Dollar Gains Amid Risk-Off Sentiment

The Japanese Yen (JPY) ended its two-day winning streak on Monday, as the USD/JPY pair recovered its daily losses with the US Dollar (USD) gaining ground amid risk-off sentiment.

The Bank of Japan (BOJ) maintained its economic assessment for five of Japan’s nine regions in its latest ‘Sakura Report’. The assessment for two regions was raised, while it was lowered for another two regions. The BOJ also noted that wage hikes are spreading among smaller firms in many regions.

Despite the BOJ’s positive regional assessments, the US Dollar’s strength is largely driven by broader market conditions. The recent weaker-than-expected US employment growth data has influenced market sentiment. The US Nonfarm Payrolls (NFP) report for June showed job growth that exceeded market expectations, though the pace of growth was slower compared to May. Additionally, the Unemployment Rate increased in June. These factors have led to speculation that the Federal Reserve (Fed) may initiate interest rate cuts sooner rather than later.

According to the CME’s FedWatch Tool, rate markets are now pricing in a 70.7% probability of a rate cut in September, up from 64.1% just a week earlier. This dovish sentiment surrounding the Fed has impacted the USD, but the risk-off mood in the broader market has provided support for the greenback.

The market’s current focus is on the potential for the Fed to adjust its monetary policy in response to evolving economic conditions. Traders and investors are closely watching upcoming economic data releases and Fed communications for further signals. This uncertainty contributes to the fluctuating strength of the USD and its impact on currency pairs like USD/JPY.

In summary, the Japanese Yen’s recent weakness and the US Dollar’s gains are influenced by a combination of BOJ’s regional economic assessments and the Fed’s dovish outlook amid mixed economic data. The market’s anticipation of possible Fed rate cuts in the near future adds to the complexity of the current financial landscape. As traders continue to navigate these dynamics, the performance of the USD/JPY pair remains a key focal point.

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Australian Dollar Rises on Hawkish RBA Sentiment

Australian Dollar Rises on Hawkish RBA Sentiment

Australian Dollar Rises on Hawkish RBA Sentiment

The Australian Dollar (AUD) appreciated for the fourth consecutive day on Friday, driven by high inflation and expectations that the Reserve Bank of Australia (RBA) will delay potential rate cuts. The June Meeting Minutes from the RBA revealed that the board saw a stronger case for holding rates steady rather than hiking them. They emphasized the importance of remaining vigilant about upside risks to inflation, particularly in light of data suggesting potential increases in May’s Consumer Price Index (CPI).

Additionally, the AUD/USD pair gained support from a weaker US Dollar (USD). The Greenback has been struggling due to softer economic data from the United States, which has fueled speculation that the Federal Reserve (Fed) might reduce interest rates in 2024. However, the recovery in US Treasury yields could limit the downside for the US Dollar.

Market participants are closely watching the US employment reports, expected to be released on Friday. These reports are anticipated to show a slowdown in employment growth for June. Specifically, the US Nonfarm Payrolls (NFP) are projected to increase by 190,000 new jobs, down from the previous month’s 272,000. Additionally, US Average Hourly Earnings are expected to moderate slightly, with projections indicating a decrease to 3.9% year-over-year from the prior 4.1%.

The combined impact of these factors has created a favorable environment for the Australian Dollar. High domestic inflation and the RBA’s cautious approach to rate cuts suggest a stable or potentially stronger AUD in the near term. Meanwhile, the weakening USD, influenced by the possibility of future Fed rate cuts and mixed economic data, has further bolstered the AUD/USD pair.

As traders await the detailed US employment data, the market sentiment remains cautiously optimistic for the Australian Dollar. The interplay between the RBA’s policy stance and the US economic outlook will continue to be key drivers for the currency pair. Investors will be particularly attentive to any shifts in economic indicators or central bank communications that could influence future rate decisions and currency movements.

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Gold Price Hits Multi-Day High

Gold Price Hits Multi-Day High, Awaits FOMC Minutes for Direction

Gold Price Hits Multi-Day High, Awaits FOMC Minutes for Direction

Gold prices (XAU/USD) are seeing renewed buying interest during the Asian session on Wednesday, building on the previous day’s rebound from the $2,319-$2,318 support zone. Currently, the precious metal is positioned near the top end of its short-term trading range, which has held steady over the past week. Traders are watching for a sustained move beyond the 50-day Simple Moving Average (SMA) pivotal resistance before making further bullish bets.

Recent dovish remarks from Federal Reserve (Fed) Chair Jerome Powell have reaffirmed expectations that the US central bank might start cutting interest rates at its September meeting. This prospect, combined with concerns over global economic growth, ongoing geopolitical tensions, and political uncertainty in both the US and Europe, has provided support for gold prices.

Despite these favorable conditions, the upside for gold may be constrained as traders remain cautious, awaiting clearer signals regarding the Fed’s future policy decisions. The focus is now on the release of the FOMC meeting minutes, scheduled for later in the US session. These minutes are expected to significantly impact the US Dollar (USD) and, by extension, gold prices.

In the interim, traders will also monitor key US economic data, including the ADP report on private-sector employment and the ISM Services PMI. These reports could offer additional insights into the health of the US economy and influence market sentiment.

Given the current fundamental backdrop, the path of least resistance for XAU/USD appears to be upward. Any significant corrective decline is likely to be viewed as a buying opportunity. The market’s attention will remain fixed on the FOMC minutes for further direction, as they will provide crucial information on the Fed’s stance and potential actions.

In summary, gold prices are poised for potential gains, supported by dovish Fed expectations and global uncertainties. However, traders are likely to tread carefully, awaiting the FOMC minutes and key US economic data for more definitive cues. This cautious approach underscores the delicate balance between optimism for rate cuts and the need for concrete policy guidance.

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Australian Dollar Drops on Weak Manufacturing PMI

Australian Dollar Drops on Weak Manufacturing PMI

Australian Dollar Drops on Weak Manufacturing PMI

The Australian Dollar (AUD) may find some relief as the Caixin Manufacturing PMI from China increased to 51.8 in June, surpassing expectations of a decline to 51.2 from May’s 51.7. This unexpected boost in Chinese manufacturing activity is significant for Australia, given the close trade relationship between the two countries. Positive economic changes in China can have a favorable impact on the Australian market, potentially supporting the AUD.

Despite this positive news from China, the AUD faced pressure due to disappointing domestic data. Australia’s June manufacturing PMI contracted at its fastest rate since May 2020, indicating a significant slowdown in the sector. This contraction in manufacturing activity has dampened investor sentiment towards the AUD. Market participants are now eagerly awaiting the Reserve Bank of Australia’s (RBA) upcoming policy meeting minutes on Tuesday, hoping for insights into the central bank’s future monetary policy direction. Any indications of policy adjustments or economic outlook from the RBA could influence the AUD’s movement.

Meanwhile, the US Dollar (USD) has been depreciating due to rising expectations that the US Federal Reserve (Fed) will cut interest rates in 2024. According to the CME FedWatch Tool, the likelihood of a Fed rate cut by 25 basis points in December has increased to nearly 32.0%, up from 28.7% just a week earlier. This shift in expectations is driven by recent economic data suggesting a potential easing of monetary policy by the Fed to support economic growth. The prospect of lower interest rates in the US has weakened the USD, providing some support to the AUD.

In summary, the AUD’s performance is currently influenced by a mix of international and domestic factors. While positive Chinese economic data provides some support, the AUD is under pressure from weak domestic manufacturing data. The upcoming RBA policy meeting minutes will be closely watched for any signals on future monetary policy, which could impact the AUD. Additionally, the USD’s depreciation due to expectations of Fed rate cuts adds another layer of complexity to the AUD’s outlook. Traders will need to monitor these developments closely to navigate the fluctuating market conditions.

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Bitcoin Price Goes Downside and Capped at Level $9,700 to Confluence Detector

 

Bitcoin Price Goes Downside and Capped at Level $9,700 to Confluence Detector

 

The Bitcoin has gone undergone a significant drop in the past few days.

A week ago, It was noticed that Bitcoin is probably going to enter an upturn on account of the ongoing spike in the “BTC changed hands” metric. Spikes in BTC changing hands on-chain regularly goes before an inversion in value activity, he included.

Bitcoin, BTC to USD, rose by the level at 1.09% on Tuesday. Mostly changing a 4.57% slide from Monday, Bitcoin finished the day at $10,549.0.

It was a blended beginning to the day. Bitcoin tumbled to an early morning intraday low $10,377.0 before making a move. Avoiding the primary significant help level at $10,171, Bitcoin rose to a late intraday high to the level of $10,597.0.

Avoiding the mark concerning the main significant obstruction level at $10,850, Bitcoin moved back to wrap up the day at sub-$10,550 levels. The close term bullish pattern stayed unblemished, upheld by the most recent pullback. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to frame a close term bearish pattern.

However, Bitcoin was somewhere around 0.02% to $10,549.6. A blended beginning to the day saw Bitcoin tumble to an early morning low $10,540.0 before ascending to a high $10,555.0.

Bitcoin left the significant help and opposition levels untested at an early stage. Somewhere else, it was a quiet beginning to the day. Ethereum is traded at the level (- 0.27%) and Ripple’s XRP (- 0.03%) battled at an early stage. It was a bullish beginning for the remainder of the majors, nonetheless.

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Crypto Daily Bitcoin Breaks back at the Level $10,400 pack with Support

Crypto Daily Bitcoin Breaks back at the Level $10,400 pack with Support

 

Let’s talk about the cryptos there is the mix start day of the majors. A bitcoin going back and breaks back through the level at $10,400 that provide the pack with the support.

Bitcoin, BTC to USD, slipped by 2.42% on Tuesday. Reversing a 1.18% gain from Monday, Bitcoin ended the day at the level of $10,148.0.

Bitcoin rose to an early morning intraday high at the level of $10,464.0 before hitting reverse.

Missing the mark regarding the principal significant opposition level at $10,579, Bitcoin slid to a late intraday low $9,882.4.

Bitcoin fell through the main significant help level at $10,065 recuperating to wrap up the day at $10,100 levels.

The close term bullish pattern stayed perfect, disregarding the most recent pullback to sub-$10,000. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to frame a close term bearish pattern.

Bitcoin would need to travel through the $10,165 turn level to help a run at the principal significant obstruction level at $10,447.

Backing from the more extensive market would be required, notwithstanding, for Bitcoin to crush spirit through to $10,400 levels.

Notwithstanding an all-inclusive crypto rally, the principal significant obstruction level and Tuesday’s high $10,464.0 would almost certainly trim any upside.

In case of a crypto breakout, Bitcoin could test obstruction at $10,700 before any pullback. The second significant opposition level sits at $10,746.

The inability to travel through the $10,165 rotate would bring the primary significant help level at $9,866 into play.

Blocking another all-inclusive crypto auction, in any case, Bitcoin should avoid the subsequent significant help level at $9,583.

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Bitcoin Goes Remain Dormant and Provide Ethereum Large Returns

Bitcoin Goes Remain Dormant and Provide Ethereum Large Returns

 

The Bitcoin continues to go uptrend to the resistance level of $12,000 in another month. This vital value obstacle dismissed BTC’s upward value activity a few times all through August, while the $11,000 uphold level held falling costs under control. The quality of every one of these critical levels was developed over the previous month, with no of them breaking.

The Bitcoin has seems at the great boon. The bitcoin price surged at the level of $11,351 that will go yearly high at the point of $12,135.

The Bitcoin has seems at the great boon. The bitcoin price surged at the level of $11,351 that will go yearly high at the point of $12,135. It will quickly become evident to solve all the problems. Apart from these, the cryptocurrency will seems 13% nosedive in the few minutes after reaching the falls on the monthly low of the $10,546.15.

The BTC began to consolidate to the narrow range for the trading between the overhead resistance and the support level that was mentioned previously.

Moreover, the bitcoin was seemed yearly high at the level of $12,500 in August with the 17th upswing that will see the retrace price below the $12,500 to the dormant price action to the Bollinger bands on the daily hour chart.

Surely, the bellwether cryptocurrency price moved back to the $11,000 uphold level by August 25th to then bounce back towards $12,000 as August reached a conclusion. Bitcoin had the option to close the month at $11,655, giving business specialists a month to month return of 2.67%.

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Gold Price

Bitcoin Price Suddenly Going Up and Hits Gold All the Time High

Bitcoin Price Suddenly Going Up and Hits Gold All the Time High

 

The price of the Bitcoin has shot up high more than 15 percent in recent days and it will finally break the level above $10,000.

The cryptocurrency is suddenly reached above the $11,000 on Tuesday that dipped back down to around $10,800.

“Bitcoin is right now understanding its reputation for being a type of computerized gold. Up to this point, gold has been known as an ultimate place of refuge resource, however, bitcoin – which shares its key characteristics of being a store of significant worth and shortage  might thump gold from its since quite a while ago held situation later on as the world turns out to be permanently tech-driven.”

It was the mixed start day for the BItcoin and the cryptocurrency market. It will support the breakout to move through the level at $11,500.

A mixed beginning to the day saw Bitcoin rise to an early morning intraday high at the level of $11,778.0 before hitting reverse.

Avoiding the mark regarding the main significant opposition level at $11,875, Bitcoin slid to a late evening intraday low to the point at  $11,137.0.

Bitcoin fell during that time’s significant help levels before a short at the to $11,400 level.

The late recovery saw Bitcoin move back through the third significant help level at $11,256 to decrease the shortage on the day.

The close term bullish pattern stayed perfect, upheld by the most recent travel through to $12,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to frame a close term bearish pattern.

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Bitcoin, Cardano’s and Ethereum Weekly Technical Analysis

Bitcoin, Cardano’s and Ethereum Weekly Technical Analysis!!!

 

It will be a mixed start to the day for the major cryptocurrencies.  It will go choppy to the Sunday session high with the failure of the break backs to test the majors.

Bitcoin will be rose by 2.50% at the end of the weekend on 12th July that will go reversing at the 1.46% loss according to the previous week. The bitcoin will be ended at $9,497.2.

 If we see the start of the week pattern of the Bitcoin it has on the bullish trend and the rose from the  Monday low at level $9,075.8 that will go high on the Wednesday at $9,480.0.

The resistance level to the bitcoin will be fell back to the level at $9,133 before going to adapt the support level. It will recover to the $9,300 levels yesterday seems green to close out the week.

Cardano’s ADA will be rallied at 29.24% on the previously at the end of the week. In the previous week, the Cardano is a breakout at the level 22.3% ended to the week at $0.12694.Moreover, Cardano ADA broke the level through the FIB level at 23.6% of $0.1125 to hit the $0.14 for the time since August 2018.

Ethereum was rose by the level by 1.52% on Sunday that was reversing the decline on Saturday with 0.87% and the Ethereum will be ended the week up by the 6.67% to $242.81.

It will rise early in the morning at the high level of $241.59 before you easily go back.

Ethereum was broke the first major resistance level at $241.36 and the second major resistance level at $243.54.

The major support level for the Ethereum will befall at the level of $237.21 before going to find the support.

If we predict the future analysis the Ethereum will need to avoid the fall through the $241 pivot with the support with the major resistance level at $245.64.

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