FX

Gold is on the verge of a 38.2% Fibonacci correction to test prior daily highs.  The US dollar is on fire as US data impress and Fed rate hike expectations resurface.  The price of gold sank by over 0.6% on Tuesday and printed a low of $1,849.77 following a big move in the US dollar. XAU/USD fell

Gold struggles around five-month high, retreats of late. US-China talks, indecision over Fed rate hike and pre-data anxiety portray sluggish markets. DXY tracks Treasury yields to the north as 78.6% Fibonacci retracement, yearly resistance line challenge gold buyers. Gold Price Forecast: Bulls in charge and still aiming for $1,900 Update: Gold price is heading back

Crude oil falls almost 1%, as Democrats pressure US President to act on high gasoline prices. OPEC+ sticks to its 400,000 barrels per day crude oil output, despite the pressures from the US. WTI Technical outlook: A death-cross in the 4-hour chart opens the door for further losses for crude oil prices. During the New

EUR/USD has reached a four-month support line at 1.1420. The pair seems to have gone into a consolidation phase above 1.1450 on Monday but Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, expects EUR/USD to resume its fall towards the 1.1366 mark. Negative bias below the 1.1650 five-month downtrend “EUR/USD sold off last

GBP/USD Weekly Forecast: Recovery time? UK inflation and jobs data could counter dollar surge GBP/USD has been extending its decline in response to high US inflation data. Highest since 1990 – US inflation has hit 6.2%, reaching not only a historic peak but also sending the dollar substantially higher. The mix of Brexit acrimony and

Spot silver has failed to push above its 200DMA at $25.40 despite weak US consumer data. The precious metal remains on course to post healthy weekly gains of about 4.5%, however, its best performance since May. Spot silver (XAG/USD) prices have been trying to move above its 200-day moving average at $25.40 on Friday, but

USD/CAD slump for the first time in three days after posting losses of almost 1.70%. USD/CAD fell amid US dollar weakness across the board. USD/CAD: The 1-hour chart depicts a triple top chart pattern, with a target of 1.2530. USD/CAD struggles to gain traction above 1.2600, is falling 0.31%, trading at 1.2549 during the New

USD/JPY reached two-week tops around 114.00 retreating the upward move as the New York session began. The USD/JPY pair fell amid US dollar weakness across the board. Flat US bond yields undermined the US dollar prospects against the Japanese yen. The USD/JPY retreated from weekly tops around 114.00, fell 0.17%, trading at 113.88 as the

XAU/EUR prints a new year-to-date high at €1,629.29. Inflationary pressures around the globe spurred demand for precious metals as a hedge against it. XAU/EUR: With RSI in overbought levels, gold might correct before resuming the upward trend. Gold against the EUR (XAU/EUR) is trying to extend its weekly rally for seven consecutive days, trading at

Asia-Pacific shares trade mixed with China and New Zealand equities flashing red signs. Concerns over Evergrande, Sino-American ties and economic conditions test Beijing-based companies despite government efforts. Moody’s sound optimistic over the bloc’s economic growth, APEC leaders agreed over challenges of the pandemic, climate change. US Treasury yields, DXY grind higher amid light calendar, Michigan

NZD/USD extends its losses for the third consecutive day. No economic data from NZ and the US keep the pair trending in the dynamics of US dollar demand. Philadelphia Fed’s Harker argued that the Fed can raise rates while still tapering if necessary. The NZD/USD slides for the third day in a row, down 0.36%,

EUR/USD remains pressured around 16-month low, grinds lower of late. US bank holiday, light calendar allows bears to take a breather, Evergrande updates are important too. US CPI jumped to 31-year high, German inflation matches initial forecasts. Fed v/s ECB rate-hike race keeps bears hopeful, China news, light calendar can probe intraday sellers. EUR/USD treads

WTI prices have slipped in wake of a less bullish than hoped for US crude oil inventory report. WTI have slipped back to their 21DMA at $82.50. Crude oil prices have turned lower in wake of the latest official weekly US crude oil inventory report. Front-month future prices of the American benchmark for sweet light

Rivian will trade under the ticker symbol RIVN. Rivian is set to IPO tomorrow, Wednesday, November 10. RIVN is sure to see strong interest from retail and institutional traders. Update: The price of the Rivian IPO issue is to be announced today but no timeline as of yet. Trading will begin tomorrow on the Nasdaq exchange

US dollar strengthens during the American session as stocks slide, despite lower yields. EUR/USD finds resistance at the 20-day simple moving average. The EUR/USD pair is moving sideways on Tuesday, unable to hold above 1.1600. Recently it printed a fresh three day high at 1.1608 but it quickly pulled back toward daily lows. It is hovering

AUD/USD refreshes intraday low, reverses the previous day’s up-moves. Late October low, September’s peak guard immediate upside. Friday’s Doji keeps buyers hopeful despite bearish MACD signals. AUD/USD takes offers to renew intraday low near 0.7390, consolidating the week-start gains during early Tuesday. Although bearish MACD signals hint at the Aussie pair’s further weakness, the 100-DMA

Japanese yen among top performer despite risk appetite and higher yields. US dollar weakens across the board during the American session. USD/JPY heads for lowest close in a month. The USD/JPY is falling on Monday for the third day in a row and it reached at 113.07, the lowest level since October 12. It remains

GBP/USD reverses Friday’s rebound, two-month lows back in sight. Cautious BOE, USD bounce and Brexit woes weigh on the cable. Bearish daily RSI points to more weakness on the cards. GBP/USD is reversing Friday’s swift pullback, as the bears fight back control, looking to retest the critical demand area around 1.3425. The mixed market sentiment