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 Falters Despite US Economic Data; Eyes on Eurozone Inflation
The EUR/USD faced setbacks as it slipped below 1.1100, driven by a surge in US Treasury yields despite mixed American economic reports. The US Dollar remained resilient, largely unaffected by the jobless claims uptick and stagnant pending home sales. Amidst Wall Street’s festive rally, the greenback found strength with a rebound in yields post a 7-year note auction, sidelining the impact of economic data. Attention turns to Spain’s preliminary CPI figures for December, crucial for insight into Eurozone inflation, likely to shape the pair’s trajectory.
On Thursday, the EUR/USD moved lower and reached the middle band of the Bollinger Bands. Currently, the price moving slightly above the middle band, suggesting a potential upward movement. Notably, the Relative Strength Index (RSI) maintains its position at 55, signaling a neutral outlook for this currency pair.
Resistance: 1.1138, 1.1222
Support: 1.1043, 1.0946
XAU/USD Continues Surge Amid Dollar Weakness and Investor Optimism
Gold prices are on the rise as the US Dollar faces pressure amidst a buoyant Asian stock market. Investor enthusiasm for anticipated aggressive interest rate cuts by the Fed, coupled with China’s commitment to bolster domestic demand and liquidity injections by the PBOC, fuels risk appetite, edging the Dollar lower. Despite a slight rebound in US Treasury bond yields, Gold maintains its upward momentum, nearing the $2,100 mark in Asian trade. The Dollar Index hovers near five-month lows, while US Treasury bond yields, after bouncing off multi-month lows, stand at 3.81%, up 0.50% on the day. Wednesday’s market return saw Gold hit a record close above $2,070, propelled by a Dollar sell-off post-positive US auctions. Anticipation of Fed rate cuts continues to drive demand for stocks and bonds, influencing Treasury yields. With the focus shifting to mid-tier US Jobless Claims and a seven-year bond auction, Gold traders remain vigilant amid pre-New Year thin liquidity conditions, expecting potential upside boosts.
On Thursday, XAU/USD moved lower and reached the middle band of the Bollinger Bands. Currently, the price moving at the upper band, suggesting a potential upward movement. The Relative Strength Index (RSI) stands at 53, signaling a neutral outlook for this pair.
Resistance: $2,088, $2,103
Support: $2,065, $2,048
Make informed decisions with the most up-to-date and reliable financial data, exclusively provided by vtmarkets.com.
