Gold stays under bearish pressure and trades near $4,800 after having touched its highest level in a week above $4,870 earlier in the day. Given that the path to a durable US-Iran agreement remains uncertain on the back of the instability in the … [Continue reading]
Gold retreats further from four-week top amid modest USD recovery; downside seems limited
Gold (XAU/USD) extends its intraday retracement slide from a nearly four-week high, touched during the Asian session earlier this Wednesday, and touches a fresh daily low, around the $4,815 region in the last hour. Given that the path to a durable … [Continue reading]
Japan Machinery Orders (YoY) registered at 24.7% above expectations (8.5%) in February
Ethereum briefly recovered the $2,400 level on Tuesday, its highest level since February 1, following the latest developments in peace talks between the US and Iran. The US military blockade of the Strait of Hormuz and reports of a new round of … [Continue reading]
Gold surges as Iran talks hopes dent US Dollar again
Gold (XAU/USD) price surges nearly 2% on Tuesday amid growing optimism linked to the resumption of US-Iran talks, even though the US military seized Iran-linked ships as the blockade of the Strait of Hormuz persists. The XAU/USD trades at $4,835 … [Continue reading]
GBP/USD: Upside bias with limited resistance – Scotiabank
Scotiabank notes the Pound is up 0.3% versus the Dollar, trading at pre‑conflict highs as investors welcome strong demand for UK debt. Domestic data risk is light before trade and industrial production, while BoE speakers, including Gov. Bailey, pose … [Continue reading]
Gold Price Forecast: XAU/USD bulls will find resistance at the $4,850 area
Gold (XAU/USD) is showing a moderate bullish tone for the second consecutive day on Tuesday, with price action approaching the $4,800 level after bouncing from one-week lows at $4,664 on Monday. Speculation about a new round of negotiations between … [Continue reading]
Oil: Supply shock risks with Hormuz crisis – Rabobank
Rabobank strategists highlight that Brent Oil prices are down on screens even as the US blockade of Hormuz, combined with Iran’s actions, threatens prolonged disruption. They warn that refinery feedstock is running out, airlines like Qantas are … [Continue reading]
EUR/USD climbs to 1.1765-1.1770, highest since March as Iran diplomacy hopes undermine USD
The EUR/USD pair is seen building on the previous day's strong intraday move up of over 100 pips and gaining some follow-through traction during the Asian session on Tuesday. This marks the eighth straight day of a positive move and lifts spot prices … [Continue reading]
EUR/USD extends gains as Dollar slides to fresh six-week lows now
EUR/USD extended its gains on Monday as market mood improved, weighing on the US Dollar, which fell to six-week lows near 98.36 according to the US Dollar Index (DXY). At the time of writing, the pair trades at 1.1757, up 0.32%.Euro draws support … [Continue reading]
Dow Jones Industrial Average edges lower as Goldman drags, Crude Oil climbs back over $100
The Dow Jones Industrial Average (DJIA) edged lower on Monday, slipping around 50 points to trade near 47,900 after recovering from a much steeper drop at the open. The S&P 500 rose 0.2% to trade above 6,800, while the Nasdaq Composite gained … [Continue reading]