Gold prices have been highly volatile, trading near record highs due to various economic and geopolitical factors. Last week's weak US employment data, with only 114,000 jobs added and an unexpected rise in the unemployment rate to 4.3%, has increased the likelihood of the Federal Reserve implementing rate cuts, boosting gold's appeal. Tensions in the Middle East further support gold as a safe-haven asset. Technical analysis suggests that gold prices might break above $2,477, potentially reachin
The USD/JPY pair is predicted to increase based on both fundamental and technical analyses. Fundamental factors include a potential easing of aggressive bond buying by the Bank of Japan (BoJ), which could lead to yen depreciation. Technical indicators suggest a continuing uptrend, with the possibility of a correction once the price reaches the 157.7 to 160 range.
Tech Stocks Under Pressure, Inflation Data Looms
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The Japanese Yen weakened on Fed Chair Powell confirmed hawkishness. APAC equities were mixed, and crude oil remains mired before OPEC+. Omicron universal uncertainty continues. Will USD/JPY gain traction?
Gold prices seesawed on Omicron variant news as real rates rose. Testimony from Fed Chair Powell now in focus, may offer support. Technically, prices are testing the mettle of a three-month uptrend
The US Dollar rode higher as US yields rose across the curve. Crude oil prices recovered after OPEC+ threw a curve ball. With Thanksgiving almost here, where will USD go on holiday?
Gold plunges after Biden renominates Powell to Fed Chair. XAU traders eye US inflation data due out this Wednesday. 1800 level key to direction, will bears break below the level?
Australian Dollar eyes China’s monthly 1- and 5-year Loan Prime Rate fixing. Traders await news over US/China oil inventory releases and Biden’s Fed pick. AUD/USD downside may continue as bearish SMA crossover nears.
Australian Dollar facing mixed signals vs. USD, CAD and EUR. AUD/USD may reverse higher on support, AUD/CAD ranging. EUR/AUD downtrend remains despite recent consolidation.
USD/JPY made a new peak as USD gained traction across the board. Bollinger Bands and a candlestick might indicate exhausted price action. Momentum signals remain on the radar. Where to next for USD/JPY?
New Zealand Dollar holds firm while risk-sensitive Australian Dollar falls overnight. RBNZ's inflation expectations survey in focus as the central bank’s rate decision nears. NZD/USD looks to retake the 0.7000 psychological level after bouncing from support
The US Dollar continues to break new ground as momentum gathers. Encouraging economic data and hawkish comments boost yields and USD. Commodities and currencies weaken against the Dollar. Will USD keep going?
Gold broke higher after eye popping US inflation last week before pausing. Treasury yields continued higher and USD buying eventually dominated gold. Inflation focus has faded but Fed action lingers. Where to for XAU/USD?
Risks Remain Lower for EUR/USD. Sharp Increase in Covid Cases Adds Another Concern for the Euro.
The US Dollar struggled to hold last week’s gains in Asian trade today. Economic data was mixed with Japan missing and China beating projections. US yields continue to dominate after CPI last week. Will USD get a kick-along?
Rising inflation expectations and falling long-end bond yields have given a new shine to gold prices. If real yields – nominal yields less inflation – continue to fall, gold prices will likely continue their rally.
GOLD, XAU/USD, INFLATION, TREASURY YIELDS, BREAKEVEN RATES– TALKING POINT
JAPANESE YEN, EUR/JPY, CAD/JPY - TALKING POINTS AND ANALYSIS