Sphyn-Trader

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After experiencing a decline, the price of gold rebounds and breaks its three-day losing streak in the Asian trading session on Thursday. Currently, XAU/USD is trading around 1918, showing a 0.22% increase for the day. Traders in the gold market will closely monitor the release of the US Consumer Price Index (CPI) later today during the American session. It is...

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Gold price is replicating the moves seen in the first half of Wednesday on the United States (US) Consumer Price Index (CPI) day. The United States Dollar (USD) buyers take a breather, awaiting the critical US inflation data for a fresh directional impetus.

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GBP/JPY lacks momentum while making rounds to 182.70-80 during early Wednesday in London, fading the two-day winning streak. In doing so, the cross-currency pair juggles multiple risk catalysts and the fears of the UK’s economic slowdown, as well as mixed central concerns, during the sluggish markets.

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The Euro continues under pressure as the European Central Bank's (ECB) peak rate speculation continues, with the possibility of September's meeting at 35% and October's meeting at 55%.

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The Dollar Index (DXY) and US Yields helped keep Gold on the backfoot yesterday with Dollar strength continuing this morning. The US Dollar appears to be benefitting from a risk-off tone this morning following lackluster data from China as well as Moody’s downgrading a host of small to medium sized US Banks.

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Open interest in gold futures markets fell for a row on Tuesday, this time by around 3.2k contracts, according to preliminary data from CME Group. Instead, volume kept its erratic performance and increased by about 42.3k contracts following the previous daily drop. Gold is facing initial dispute around 1900 The falling wedge formed is due to a further...

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The EUR/JPY cross builds on the previous day's goodish rebound from the 155.80 region, or a one-week low and gains strong follow-through positive traction for the second successive day on Tuesday. The momentum lifts spot prices to over a two-week high, around mid-157.00s during the Asian session and is sponsored by the heavily offered tone surrounding the Japanese...

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The EUR/USD rose back to 1.1000 during the American session, boosted by a weaker US dollar across the board amid an improvement in risk appetite. It was a relatively quiet Monday for financial markets as attention is focused on incoming US inflation data later in the week.

Sphyn-Trader Updated 

Gold price remains under some selling pressure for the second successive day on Tuesday and drops to a fresh daily low, around the 1,931 area during the Asian session. The XAU/USD, however, manages to hold above a three-and-half-week low touched last Friday. Gold is predicted to stay in a falling wedge Support zone: 1928, 1922, 1912

Sphyn-Trader Updated 

Gold Price (XAU/USD) stays depressed around 1,935 after the beginning of the trading week with mild losses. That said, the XAU/USD manages to keep the bears on board amid technical breakdown, as well as the firmer prints of the United States Treasury bond yields, despite a sluggish US Dollar ahead of this week's inflation data from the US and China. Also an...

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Gold prices rebounded strongly amid mixed US Nonfarm Payrolls report. The new job addition was not as strong as expected by market participants. This makes the price of gold a bit volatile as it is still in line with last week's prediction Next week's prediction: Gold continues to move sideways around the 195x zone before breaking out and continuing to rise!

Sphyn-Trader Updated 

Gold price has recovered significantly since autumn last year. Economists analyze the yellow metal’s outlook. After NFP, the GOLD trend still goes as expected, back to the uptrend. This is a good signal for the buyers. Gold is expected to continue short-term sideways at the 1950 level before breaking and continuing to move up!

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In the day ahead, risk sentiment will play an important role in US Dollar dynamics, as there is no important economic data to be released from the North American economy. Meanwhile, speeches by Fed policymakers could also be scrutinized for fresh hints about the central bank's policy outlook. However, any move is likely to remain limited for the Greenback, as well...

Sphyn-Trader Updated 

EUR/USD strengthened after the NFP report, as the market punished the greenback and US Treasury yields plummeted. The US Dollar Index, a measure of the dollar's value against a basket of peers, was down 0.70% to trade at 101.766. EURUSD's next prediction next week is a return to the uptrend!

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The GBP/JPY exchange rate is recovering from recent losses during the early Asian trading session on Friday. The cross trade is currently hovering around 181.62, marking a 0.24% increase for the day. The disparity in monetary policy stances between the Bank of England (BoE) and the Bank of Japan (BoJ) acts as a headwind for GBP/JPY transactions, creating an...

Sphyn-Trader Updated 

Based on fundamental analysis, gold price has a very high probability of going up with NFP. But according to technical analysis, gold price is still in a falling wedge, which creates an extremely unpredictable NFP, let's wait and see what surprises gold futures will give us! Looking at multiple time frames, support and resistance zones work best in the 1900-1952...

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Following the release of ONS data, there was a significant decrease in UK government bond yields as traders adjusted their expectations for future interest rate hikes. Prior to the release, financial markets anticipated a terminal UK Bank Rate surpassing 6%, higher than the current rate of 5%. However, these projections declined to approximately 5.75% during the...

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The Bank of England (BoE) is widely anticipated to raise its policy rate by an additional 25 basis points to 5.25% after the August meeting. However, such a decision alone may not be sufficient to stimulate the recovery of the British pound. The BoE needs to reassure markets that they will continue tightening their policy despite signs of easing price pressures....