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Gold bulls are showing up in Asia as the trade starts to pick up.  US dollar is also making tracks across the forex board as traders await keynote speeches from central bankers.  Update: Gold price is looking to reverse Thursday’s drop, as it flirts with daily highs above $1,860, shrugging off the advance in the

Canadian dollar falls versus its main rivals on Thursday. USD/CAD extends rally, firm above 1.2600, now looking at 1.2655. Risk aversion boosts the greenback versus commodity and emerging market currencies. The USD/CAD accelerated to the upside on the back of a stronger US dollar and climbed to 1.2645, reaching the highest level since October 6.

USD/INR takes offers to refresh weekly low during two-day downtrend. 100-SMA, five-week-old resistance line guards immediate upside. Descending RSI line, not oversold, adds to the bearish bias. 200-SMA adds to the upside filters, multiple tops of September strengthen 73.85 support. USD/INR stands on slippery grounds towards 74.00, down 0.15% intraday to form weekly bottom around

WTI has turned lower in recent trade, breaking out to fresh daily lows despite a bullish inventory report. The report has perhaps been interpreted as increasing the likelihood that the Biden administration taps the SPR. Front-month futures of the American benchmark for sweet light crude oil, West Texas Intermediary or WTI, have traded on the

AUD/USD extends losses to renews multi-day low, ignores oversold RSI conditions. Bearish MACD, sustained trading below 61.8% Fibonacci retracement level directs sellers to two-month-old horizontal support. AUD/USD remains on the back foot for the second consecutive day, refreshing monthly low to 0.7262 heading into Wednesday’s European session. In doing so the Aussie pair extends pullback

Higher equity prices and US yields weigh on the Japanese yen. US economic data released on Tuesday surpass expectations. USD/JPY breaks key resistance and strengthens positive outlook. The USD/JPY broke above 114.30 and jumped to test the multi-year high below 114.70. It peaked at 114.63, the strongest in four weeks and then pulled back modestly.

Gold struggles around five-month high, retreats of late. US-China talks, indecision over Fed rate hike and pre-data anxiety portray sluggish markets. DXY tracks Treasury yields to the north as 78.6% Fibonacci retracement, yearly resistance line challenge gold buyers. Gold Price Forecast: Bulls in charge and still aiming for $1,900 Update: Gold price is heading back

US 10-year yield rebounds sharply from 1.54%, back to 1.60%. Yields across the curve hit fresh daily highs on American hours. DXY is back in positive territory for the day, above 95.00. US yields turned to the upside during the American session and climbed to weekly highs. The 10-year yield rose from under 1.55% to

Gold (XAU/USD) licks wounds near $1,860 during the first negative day in eight amid early Monday. In doing so, the yellow metal eases from the highest levels since June while stepping back from the yearly resistance line. That said, the pullback moves fail to cheer softer US Treasury yields, as well as the US dollar,

GBP/USD Weekly Forecast: Recovery time? UK inflation and jobs data could counter dollar surge GBP/USD has been extending its decline in response to high US inflation data. Highest since 1990 – US inflation has hit 6.2%, reaching not only a historic peak but also sending the dollar substantially higher. The mix of Brexit acrimony and

Spot silver has failed to push above its 200DMA at $25.40 despite weak US consumer data. The precious metal remains on course to post healthy weekly gains of about 4.5%, however, its best performance since May. Spot silver (XAG/USD) prices have been trying to move above its 200-day moving average at $25.40 on Friday, but

USD/CAD slump for the first time in three days after posting losses of almost 1.70%. USD/CAD fell amid US dollar weakness across the board. USD/CAD: The 1-hour chart depicts a triple top chart pattern, with a target of 1.2530. USD/CAD struggles to gain traction above 1.2600, is falling 0.31%, trading at 1.2549 during the New

USD/JPY reached two-week tops around 114.00 retreating the upward move as the New York session began. The USD/JPY pair fell amid US dollar weakness across the board. Flat US bond yields undermined the US dollar prospects against the Japanese yen. The USD/JPY retreated from weekly tops around 114.00, fell 0.17%, trading at 113.88 as the

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Moody’s Investors Service is out with its latest assessment of the Asia-Pacific economies, offering a stable outlook on the region. “Most will rebound, helping to support debt stabilisation at higher levels than pre-pandemic,” Moody’s said in its report. Market reaction The Asian stocks are a big bag in the final trading day of the week,

AUD/USD extends its sharp decline for three days, from 0.7430 to 0.7300. Australian Employment Change dropped 46.3K, and the unemployment rate jumped above 5%. AUD/USD Technical outlook: A break under 0.7300 exposes the September 30 low at 0.7169. The Australian dollar slides for the third consecutive day, down 0.25%, trading at 0.7309 in the New

AUD/USD bears stay in control with eyes on 0.73 the figure.  A break of 0.7300 opens risk to the 0.7280s for the sessions ahead. AUD/USD fell on Wednesday and extended losses in Thursday’s Asian session following a surprisingly strong US Consumer Price Index report and a shockingly poor Aussie jobs event.  AUD/USD has fallen from 0.7393

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