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 Stabilizes Amid Mixed Signals from the Fed and ECB on Future Rate Decisions
The EUR/USD pair found itself in a stabilization phase around the 1.0770/80 mark as the US Dollar’s early gains dissipated, influenced by a late loss in momentum despite rising US yields. This shift occurred amidst ongoing investor speculation over the Federal Reserve’s potential easing in its May or June meetings, underscored by cautious tones from Fed Chair Jerome Powell and other Fed officials regarding interest rate adjustments. Meanwhile, European Central Bank (ECB) members expressed varied views on the timing of policy rate changes, adding to the currency pair’s uncertainty. Investors now eye the Fed’s next moves with a heightened focus on upcoming inflation data and the ECB’s stance on its policy rate, navigating through mixed signals on the economic outlook and monetary policy directions on both sides of the Atlantic.
On Thursday, the EUR/USD moved flat and was able to reach above the middle band of the Bollinger Bands. Currently, the price is moving just above the middle band with narrower bands, suggesting a potential slightly upward movement to reach the upper band. Notably, the Relative Strength Index (RSI) maintains its position at 50, signaling a neutral outlook for this currency pair.
Resistance: 1.0817, 1.0880
Support: 1.0724, 1.0662
XAU/USD Exhibit Modest Losses Amid US Dollar Fluctuations and Economic Indicators
Gold (XAU/USD) experienced slight intraday losses, trading around $2,030 during the Thursday American session, amidst fluctuating US Dollar strength and key economic indicators. Despite a weak Dollar in Asian markets, it regained momentum before Wall Street opened, influenced by the yield on the 10-year US Treasury note, which rose to 4.16% following upbeat US employment data indicating a rise in weekly unemployment claims to 218K. This robust labor market data, alongside Federal Reserve officials’ remarks aligning with Chair Jerome Powell’s cautious stance on inflation, has led market participants to adjust their expectations for potential rate cuts, contributing to the day’s trading dynamics for gold.
On Thursday, XAU/USD moved higher and was able to reach above the middle band of the Bollinger Bands. Currently, the price is moving slightly above the middle band, suggesting a potential upward movement to reach back to the upper band. The Relative Strength Index (RSI) stands at 50, signaling a neutral outlook for this pair.
Resistance: $2,043, $2,062
Support: $2,031, $2,016
Make informed decisions with the most up-to-date and reliable financial data, exclusively provided by vtmarkets.com.
