Spreads
Spreads
Spreads
Spreads
Spreads
Make informed decisions with the most up-to-date and reliable financial data, exclusively provided by vtmarkets.com.
EUR/USD (4 Hours)
EUR/USD Stays Steady Ahead of US Employment Data Despite Limited Market Impact
The EUR/USD remained flat during a quiet session, trading around 1.0940, as investors awaited crucial US employment data. On the economic front, Germany reported lower-than-expected June exports and imports, while Eurostat revealed a decline in the Producer Price Index (PPI) for the Euro area. The Bank of England’s rate hike initially boosted EUR/GBP, but gains were later reversed. In the US, data on initial Jobless Claims and Unit Labor Costs were released, with focus shifting to the upcoming Nonfarm Payrolls report, expected to show an increase of 200,000 jobs.
According to technical analysis, the EUR/USD remained flat on Thursday as the market awaited today’s US Non-farm data, reaching the middle band of the Bollinger Bands. Currently, the price is moving at the middle band, creating a narrow gap between the upper and lower bands of the Bollinger Bands. The Relative Strength Index (RSI) currently stands at 44, suggesting that the EUR/USD is back in consolidation mode. Please be aware that we expect high volatility in the EUR/USD today as the US Non-Farm data will be released.
Resistance: 1.1038, 1.1121
Support: 1.0915, 1.0839
XAU/USD (4 Hours)
XAU/USDConsolidates Losses as US Dollar Strength Persists Amid Labor Market Concerns
On Thursday, XAU/USD traded in the $1,930 price zone, consolidating losses after hitting its lowest point in almost a month at $1,929.48 per troy ounce. The decline was attributed to the continued strength of the US Dollar, which benefited from a somber market sentiment, leading to increased government bond yields and impacting equities. Market players are worried that the tight US labor market will prompt the Federal Reserve to maintain its tightening path for a longer duration than expected. Despite signaling at least one more rate hike, uncertainty prevails as tepid economic indicators suggest a possible pause. The July Nonfarm Payrolls Report (NFP) is eagerly awaited to gain more clarity on the employment situation in the US.
According to technical analysis, on Thursday, the XAU/USD remained flat, with the upper and lower bands of the Bollinger Bands moving closer together. Currently, the price is slightly below the middle band of the Bollinger Bands. The Relative Strength Index (RSI) is currently at 39, indicating that the XAU/USD pair is still slightly bearish.
Resistance: $1,945, $1,963
Support: $1,930, $1,912
Make informed decisions with the most up-to-date and reliable financial data, exclusively provided by vtmarkets.com.
