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 Hovers Within Familiar Territory Amid Cautious Investor Sentiment
The EUR/USD pair remained steady within established ranges as investors exercised caution ahead of pivotal data releases and central bank speeches scheduled in the coming days. While reaching a high of 1.0962, the pair saw a dip to 1.0934 during European trading hours. The US Dollar’s declining appeal for the fourth consecutive day amid speculation around the Fed’s potential halt to rate hikes by May 2024 has lent support, but concerns about inflation updates in the US and Eurozone have curbed the EUR/USD rally. Key data releases, including Germany’s November HICP and the US October PCE Price Index, are anticipated, alongside speeches from Fed officials, heightening the market’s vigilance.
On Tuesday, the EUR/USD moved higher, attempting to reach the upper band of the Bollinger Bands. Currently, the price is hovering just around the upper band, showing potential for consolidation and a possible move toward the middle band. The Relative Strength Index (RSI) remains at 74, indicating a bullish stance for the currency pair.
Resistance: 1.1041, 1.1087
Support: 1.0968, 1.0930
XAU/USD Surge as Fed Signals Dovish Tone Amidst Inflation Debate
Gold prices soared, reaching $2,038.45 against the USD following a shift in sentiment from Federal Reserve officials. Governor Waller’s dovish remarks on the recent economic slowdown, suggesting an adequate monetary policy stance against inflation, set the tone. Chicago Fed President Goolsbee echoed progress on inflation, hinting at a potential substantial drop in rates. Meanwhile, Governor Bowman maintained a hawkish stance, leaving room for a rate hike if inflation stagnates. This shift toward dovish sentiments weakened the US Dollar, driving Treasury yields down—10-year government notes now offer 4.36%, while 2-year notes yield 4.80%, signaling market reactions to the Fed’s evolving stance.
On Tuesday, the XAU/USD moved higher and managed to create a push to the upper band of the Bollinger Bands. Currently, the price is just below the upper band, indicating potential consolidation and a possible move downward toward the middle band. The Relative Strength Index (RSI) remains at 83, reflecting a bullish stance for the pair.
Resistance: $2,052, $2,079
Support: $2,038, $2,012
Make informed decisions with the most up-to-date and reliable financial data, exclusively provided by vtmarkets.com.
