Share: USD/CNH picks up bids to extend week-start rebound despite upbeat China. China Caixin Services PMI for August eases to 51.8 versus 54.1 previous readings. Doubt about China’s capacity to defend economic recovery with stimulus weighs on Yuan as full markets return. Country Garden news, China Commerce Ministry updates prod USD/CNH bulls even
Share: Bullish-engulfing candlestick pattern on the daily chart suggests buyers are in control. The first major resistance at 1.3600, followed by several key levels up to 1.3804. Downside risks include a drop below 1.3489, potentially targeting the 200-DMA at 1.3462 and the 50-DMA at 1.3345. The Canadian Dollar (CAD) losses ground against the
Share: Silver Price struggles with the key upside hurdle at monthly high. Descending resistance line from early May challenges XAG/USD bulls amid nearly overbought RSI (14) line. Clear upside break of four-month-old horizontal resistance area, bullish MACD signals favor Silver buyers. 100-DMA, key Fibonacci retracement levels can prod XAG/USD pullback. Silver Price (XAG/USD)
It has been a poor month for gold but the technical picture shows that it could’ve been a whole lot worse. Gold is now trading back to around $1,923 but was close to around $1,885 at the lows this month – its lowest levels since March. Gold (XAU/USD) daily chart So, what does the technicals
POUND STERLING ANALYSIS & TALKING POINTS German GFK Consumer Confidence places EUR on the backfoot. US CB Consumer Confidence & JOLTs under the spotlight later today. Hesitancy shown on both GBP/USD & EUR/GBP charts. Recommended by Warren Venketas Get Your Free GBP Forecast GBPUSD & EURGBP FUNDAMENTAL BACKDROP The British pound managed to find some
Share: Gold Price stays defensive within multi-day-old falling wedge after snapping four-week downtrend. Mixed United States data, pullback in Treasury bond yields lure XAU/USD buyers within bullish chart pattern. Federal Reserve Chairman Jerome Powell, other policymakers defend hawkish bias but cite data dependency to prod Gold bears. Fed’s preferred inflation gauge, NFP will
10-year yields in the US clipped the 4.30% mark yesterday but are pushing back lower by nearly 6 bps to 4.249% currently. The former is a key line in the sand for the bond market at the moment and so far, the bulls are making a bit of a stand. But against the narrative that
Share: GBP/JPY retreated towards the 181.00 area and cleared most of its weekly gains. Investors continue to digest BoE’s decision on Thursday. Governor Ueda committed that the BoJ will be more flexible with the 10-year JGB. On Friday, the JPY traded mixed against most of its rivals, mainly because of Governor Ueda’s from
Share: USD/CAD reversed its course during the American session and got rejected by the 100-day SMA, falling to near 1.3335. NFPs showed that job creation in July cooled down while wages increased. Canada reported soft labour market and economic activity figures. On Friday, the USD/CAD cleared daily gains and fell into negative territory
Share: XAG/USD dropped to a daily low of around $23.37, but the bulls managed to push the price back to $23.60. The USD retreated following weak Services and Labour market data. Still, US Treasury yields will limit the metal’s advance. The XAG/USD silver’s spot price traded soft on Thursday but cleared daily losses.
