What to Watch Today

Market Analysis

GOLD - GOLD prices have surged significantly following Trump's first day in office due to uncertainty surrounding his policies, which have stalled the Dollar's rally. His mass deportation order and delayed tariffs have led analysts to reassess potential economic impacts, increasing market volatility.

Investors are flocking to GOLD to mitigate risks in this unpredictable environment. Current market indicators, like the MACD, show strong bullish momentum, while the RSI suggests strength in buying. Overall, we anticipate further price increases in the coming days, although a slight pullback could occur depending on Trumps actions.

SILVER - Silver prices have risen slightly but remain just above 30.6675. There is potential for further upward movement as both the MACD and RSI reflect healthy bullish momentum. Price action supports continued buying, although silvers gains may be less pronounced compared to gold. Vigilance is necessary, as some investors may shift back to the Dollar if its appeal improves.

DXY - The Dollar Index gap remains unfilled, with prices consolidating as investors await Trump‘s next policy moves. Both the MACD and RSI show increasing momentum and volume, but the lack of clarity surrounding Trump’s tariff policies leaves the market in limbo. While short-term bearishness persists, the gap remains a target for prices to eventually fill, which supports expectations of a rebound.

GBPUSD - Despite the Dollar‘s weakness, the Pound’s appeal remains limited due to strained relations between the UK and Trumps administration. The UK economy is expected to face challenges under Trump, particularly if tariffs are imposed. Current prices have failed to breach 1.23720, though short-term developments suggest potential for a positive movement in the Pound. The MACD and RSI indicate increased buying momentum, and price action has shifted bullishly in the short term. However, broader fundamentals still point to underlying bearishness.

AUDUSD - The Australian dollar remains within its consolidation zone but shows comfort near the higher boundary. The MACD indicates increased buying volume, though the RSI reflects overbought and oversold conditions at both extremes, signaling indecision. While price action has shifted to a bullish bias, a reversal is likely as markets anticipate weakness due to potential rate cuts by the RBA in the coming months.

NZDUSD - The New Zealand dollar mirrors the Australian dollar, staying within its consolidation range. Both the MACD and RSI lack clear direction, as analysts evaluate Trump‘s policy moves and their implications for global trade. Markets are cautious, with Trump’s unpredictability leaving investors hesitant. Price action suggests consolidation will persist until clearer signals emerge.

EURUSD - The Euro remains in a precarious position, with Trumps threats of tariffs straining relations between the U.S. and Europe. While these dynamics may weigh on the Euro in the long term, current prices have risen above 1.03311, signaling a shift in short-term momentum. The MACD shows potential for increased buying strength, while the RSI is normalizing and gaining momentum. Though the broader outlook remains bearish, short-term buying opportunities exist as prices approach resistance levels.

USDJPY - The Yen remains consolidated after failing to touch 154.703. Both the MACD and RSI are also in consolidation, though the RSI is nearing overbought levels. Price action remains bearish overall, with the market anticipating further declines ahead of a potential rate hike by the BOJ on Friday. With 18 out of 19 economists predicting a rate increase, the Yen is expected to see increased selling pressure in the near term.

USDCHF - The Franc is gaining strength against the Dollar, staying below 0.90743. Both the RSI and MACD reflect increasing momentum and volume, supporting a bearish outlook for the Dollar in this pair. Prices are likely to remain under resistance in the near term.

USDCAD - The Canadian dollar remains consolidated with erratic whipsaw movements, as markets seek clarity on Trumps policies. Both the MACD and RSI provide unreliable signals at this stage, reflecting indecision. Despite this, price action continues to respect key boundaries, maintaining a bullish structure. We expect further upward movement once the market gains clarity.