Silver climbs near $57 despite renewed Fed rate hike expectations
Silver climbs near $57 despite renewed Fed rate hike expectations
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Silver climbs near $57 despite renewed Fed rate hike expectations
Forex
Euro: Policy divergence supports gains against US Dollar - DBS
GBP/USD has rebounded after two successive daily losses and gained in each of the last three sessions. Is risk setting in?
EUR/USD Price Forecast: Bearish Flag formation backs more downside
Gold holds below 4100 while maintaining the drop pressure over the market. As we see from the chart, prices face support around 3940-45 with resistances at 4050-60 which could hold a trading zone.
As we see from our previous chart, USDJPY managed to pass above the short-term resistance zone of 161.95 which shows a strong advance still ongoing. Prices fell toward 160.50-70 on the suspected intervention before bouncing back.
GBPUSD managed to pass above the resistance of 1.3430 to meet the target of 1.3510 and above. As we see from the chart, a chance for a trading zone between support 1.3320-50 and resistance 1.3555 could hold the market.
EURUSD is still holding above the Intraday support at 1.1380 while managing to advance toward 1.1481 so far. Traders need to watch the support of 1.1380 as the market still has a chance to move higher.
USD/JPY opens the week at 162.36 on Monday. The Japanese yen remains near its lowest level since 1996.
Gold Price Forecast: XAU/USD nears the tip of a triangle formation at the $4,000 area
GBP/JPY Price Forecast: Flatlines around 218.50 with long-term highs at hand
The Pound to New Zealand Dollar (GBP/NZD) exchange rate fell to a three-week low last week as strong domestic data and rising Reserve Bank of New Zealand rate hike expectations helped the ‘Kiwi' outperform Sterling. At the time of writing, GBP/NZD was trading at NZ$2.3052, down around 0.8% on the week.
Investors will be watching today's Cabinet announcement and Burnham's first major speech for clues on the new government's fiscal priorities.
Silver briefly slipped below the key $55 level on Friday but quickly regained its footing as the new week began, despite Brent crude gapping above $90 following another escalation in the US-Iran conflict. The lack of additional selling is notable.
Silver price today: Silver rises, according to FXStreet data
USD/JPY Price Forecast: Forms Symmetrical Triangle near multi-decade highs
The Pound to Australian Dollar (GBP/AUD) exchange rate traded in a wide range last week, briefly falling to a two-week low before recovering to test fresh multi-month highs amid UK Chancellor speculation. At the time of writing, GBP/AUD was trading at AU$1.9262, virtually unchanged on the week after retreating from a high of.
XAGUSD (The Silver) finds a bounce XAGUSD (The Silver) halts the ongoing bearish rally as the recent pullback is hampering efforts of a further drop. The precious metal slightly licks it wounds by testing the support of 55.00.
Strong U.S. data and rising inflation risks support the dollar as traders reassess Fed rate cuts. Explore the latest outlook for DXY, EUR/USD and GBP/USD.
NZD/USD Price Forecast: Resumes the bullish trend and tests monthly highs around 0.5860