Mid-week Forecast – Dollar pare losses to attempt bullish retracement
The dollar cut back losses during Wednesday’s Asian session as the index retraced to 93. Ahead of the London open, the Sterling and Yen joined the greenback on the gainers list while Swissy falls further as CAD and Aussie retreat slightly. What’s coming ahead? There is little to talk about on the economic calendar on […]
Gold Forecast: Treasury Yield rebound might pressure the yellow metal
The US 10-year bond yield is set to recover from the slumps of the last two weeks. However, this might pressure the high-flying Gold to a much expected bearish correction. The yield collapsed to 1.55% about a week ago after some Fed officials reiterated that inflation would adjust with the economic adjustment. The dip came […]
Market Analysis ahead of FOMC – what next for Dollar and Gold?
The market risk tone is moderately off on Wednesday as the dollar index recovers close to 90. Meanwhile, the stock market bled ahead of tonight’s FOMC minutes. China’s ban on crypto weigh on Bitcoin which further plummets below $40,000. Market Wrap The dollar is finding support at 89.7 early on Wednesday. DXY is on course […]
Market Forecast: Gold faces a critical resistance ahead of fresh retracement
Gold is all up as the bulls are finally set on a journey to another record high. However, with the treasury yield bound to have one more rally, the yellow metal might start a retracement as it approaches a key resistance level. Isn’t it clear now that the long-term bullish trend has resumed? It will […]
Gold Forecast: when will the yellow metal resume the long-term rally?
The yellow metal will complete the first bullish month in 2021 after it bottomed at 1677 in March as a result of a falling treasury yield. Will the long-term bullish trend continue from here? Gold is up by over 3.5% in April. The last bullish month prior was in December when the commodity gained nearly […]
Daily Market Analysis: near zero Fed rates plan supports the Dollar
The dollar jumped by 0.7% on Wednesday after the US Federal Reserve concluded its two-day monetary policy meeting with major focus on keeping the interest rate near zero until 2023. Here is today’s daily market analysis The US Central Bank is unrelenting in its effort to support its economy following the Coronavirus hit. After injecting […]
Daily market update – what next for the dollar?
The dollar weakens further on Tuesday as traders await the next action from the Fed amid swift economic recoveries despite rising global Covid-19 cases. The US-Sino affairs run mildly underneath while political tensions surge in the US ahead of the November general elections in the world’s biggest economy. EURUSD hits a fresh weekly high and […]