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 Surges Amid Dollar Weakness Despite Euro’s Mixed Signals
The EUR/USD pair rallied for a consecutive second day, edging closer to the 1.1000 mark and November’s peaks, buoyed by a faltering US Dollar amidst growing risk appetite. Despite the Dollar’s downturn, the Euro’s outlook remains uncertain, highlighted by Eurostat’s revised downward November inflation figures, tempering optimism. As the Federal Reserve and European Central Bank officials push against market expectations, the interest rate market hints at probable rate cuts by April, pressuring the Dollar amid ascending equity and commodity prices. Mixed US housing sector data added to the complex market landscape, with Housing Starts surpassing forecasts while Building Permits fell short. The upcoming data on Wednesday, including Current Account, Construction Output, and Consumer Confidence figures, further intensifies the intricate dynamics influencing the EUR/USD pair.
On Tuesday, the EUR/USD moved higher trying to reach the upper band of the Bollinger Bands. Currently, the price moving slightly below the upper band, suggesting a potential upward movement. Notably, the Relative Strength Index (RSI) maintains its position at 65, signaling a neutral but still bullish outlook for this currency pair.
Resistance: 1.1017, 1.1138
Support: 1.0946, 1.0830
XAU/USD Holds Steady Amidst Dollar Weakness and Equities’ Optimism
Gold (XAU/USD) maintained a resilient stance, hovering around $2,040 as the US Dollar weakened, buoyed by a positive equities market driven by robust risk appetite. The Nasdaq Composite achieved consecutive record highs, reinforcing the sentiment inspired by central banks. Compounding the USD’s pressure were sliding Treasury yields, hitting lows unseen since July. Despite a relatively quiet US macroeconomic calendar, attention is fixated on Friday’s release of the Core PCE Price Index, the Federal Reserve’s favored inflation gauge, keeping speculative interests keenly attuned to potential market shifts.
On Tuesday, XAU/USD moved slightly higher and reached the upper band of the Bollinger Bands. Currently, the price moving just below the upper band, suggesting a potential upward movement. The Relative Strength Index (RSI) stands at 62, signaling a neutral outlook for this pair.
Resistance: $2,050, $2,068
Support: $2,031, $2,008
Make informed decisions with the most up-to-date and reliable financial data, exclusively provided by vtmarkets.com.
