US Economics probe XAU/USD Bears

Gold Price technical outlook Gold Price extends bounce off an upward sloping support line from March 2021. That said, the corrective pullback from the yearly low also takes clues from the oversold RSI (14) to direct XAU/USD buyers towards a horizontal area comprising multiple levels marked since early 2021, surrounding $1,721-22. It’s worth noting, however, […]

XAU/USD retreats towards $2,020 as Ukraine-Russia stand-off ease

Ukraine and Venezuela’s efforts to tame the respective geopolitical tensions with Russia and the US have recently improved market sentiment. As a result, the metal’s safe-haven demand gets a dent, which in turn triggered the latest pullback in XAU/USD prices. Gold buyers take a breather around $2,042, down 0.40% intraday during Wednesday’s Asian session. In […]

Ukraine’s President Zelenskyy imposes Martial Law

As Russia goes to war, Ukraine’s President Volodymyr Zelenskyy announces the imposition of martial law, which will cover the entire country. Zelenskyy noted: “Russia carried out missile strikes on our infrastructure and on our border guards.” This comes after Ukrainian President Zelensky and his American counterpart Joe Biden spoke on the phone, earlier on. Meanwhile, […]

Gold holds near 1900 After US Jobs Data NFP 559K | Forex Trade Signal Review

Gold is holding near to $1,900 an ounce amid a debate around price pressures after U.S. employers increased hiring in May and raised wages as they competed for workers. But the nonfarm payrolls increase of 559,000 jobs was below the 650,000 forecast of economists. Meanwhile, investors were also assessing comments by Treasury Secretary Janet Yellen […]

AUD Rising while most Asian Currencies Weaken After FOMC Minutes

AUD/USD is likely to continue rallying from near 0.7200 currently to 0.7800 over the next year, CBA says. The pair is already around its highest levels since early 2019. The risk over the medium term is higher commodity prices as China ramps up commodity-heavy infrastructure spending, with iron-ore prices likely to remain above US$100/ton for the […]