Gold Subdued as Key US Data Loom

Gold Subdued as Key US Data Loom

XAU/USD Analysis The precious metal edges towards its third straight profitable month and runs the sixth consecutive week of gains, having hit nine-month highs on Tuesday. This is largely to attributed to the USDollar’s demise, on market hopes for a less...
Emerging market basket shows signs of accumulation

Emerging market basket shows signs of accumulation

The FXCM EMBasket is an equally weighted basket of four emerging market currencies against the USD. The basket comprises: Chinese renminbi. Mexican peso. South African rand. Turkish lira. November 2020 to September 2021 saw the EMBasket charting a sideways...
USDJPY jumps as yield curve control maintained

USDJPY jumps as yield curve control maintained

The volatility for USDJPY increased after the Bank of Japan kept its interest rate targets unchanged. It left its short-term interest rates at -0.1% and the target for its 10-year bond at zero. The BoJ reiterated it will defend the 10-year yield at 0.5%. As a result,...

USOIL Tests Key Resistance, Helped by US Inventory Drop

USOIL AnalysisThe US Fed moderated the pace of tightening, raising its terminal rate projection, while lowering its GDP forecasts, now expecting an anemic growth of 0.5% in the next year . This hawkish stance by the central bank of the world’s largest consumer...

Gold’s hourly momentum positive following BoJ announcement

The daily gold chart has charted a series of higher troughs followed by higher peaks (green zig-zags). We regard this as an uptrend. The precious metal may look to chart its next daily impulse up (daily +ve impulse scenario). We consider the hourly chart. Following...