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 Struggles to Hold Ground Against Strengthening US Dollar Amid Rising Yields and Weak Economic Data
The Euro, after recovering from a year-low against the US Dollar, is facing challenges in maintaining its position above 1.0500. Rising government bond yields, with the German 10-year yield hitting its highest level since 2011, are causing concern among investors. Additionally, economic data from the Eurozone, including a negative shift in the Producer Price Index and a decline in Retail Sales, are adding to the Euro’s woes. While the European Central Bank remains cautious about interest rates, the US Dollar continues its upward trend, supported by strong fundamental factors and upcoming employment data releases.
Based on technical analysis, the EUR/USD went up on Wednesday and managed to reach the middle line of the Bollinger Bands. Right now, the EUR/USD is trading above the middle line, which suggests a chance for a small upward move to reach the upper line of the Bollinger Bands. The Relative Strength Index (RSI) is at 53, indicating that the EUR/USD is currently trying to return to a neutral position.
Resistance: 1.0538, 1.0605
Support: 1.0489, 1.0406
XAU/USD Holds Steady Around $1,820 as Investors Seek Yield Amid Uncertain Market Signals
Gold prices remained relatively stable on Wednesday, with little movement as they hovered around the $1,820 mark. While initial demand for the precious metal appeared before Wall Street’s opening, it was short-lived, as investors turned to high-yield assets. Financial markets sought direction from government bond yields and US economic data but found few clear signals. The 10-year Treasury note yield reached its highest level since 2007 before easing, while the US Dollar traded near daily lows, reflecting a modest improvement in market sentiment amid mixed economic figures.
Based on technical analysis, XAU/USD exhibited consolidation on Wednesday. It reached the downward-sloping middle line of the Bollinger Bands. Currently, the price of gold is trading around the middle line, indicating the potential for further consolidation throughout the day, given the narrowing of the Bollinger Bands. The Relative Strength Index (RSI) currently stands at 37, signaling a bearish bias for the XAU/USD pair.
Resistance: $1,834, $1,858
Support: $1,809, $1,777
Make informed decisions with the most up-to-date and reliable financial data, exclusively provided by vtmarkets.com.
