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Gold Relinquishes Key $2,000 Floor, GBP/USD Held Captive by Critical Trendlines

Posted by By 16/05/2023Posted inForex
Gold breaks below the $2,000 level, signaling bulls may be starting to jump ship. Meanwhile, GBP/USD extends decline after a failed attempt to clear overhead resistance at 1.2680 earlier this…
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Copper Price Update: Another Warning Signal Flashes as Prior Low is Breached

Posted by By 16/05/2023Posted inForex
Copper, a leading economic indicator, is showing renewed signs of weakness after a string of weaker Chinese data, adding to global growth concerns
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USD/CAD Slips as Hot Canadian Inflation Raises Risks of More BoC Hikes

Posted by By 16/05/2023Posted inForex
USD/CAD loses ground as higher-than-expected Canadian inflation increases the likelihood that the Bank of Canada will return from the sidelines and raise rates again.
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US Dollar (DXY) Consolidates, Monthly US Retail Sales Miss Expectations

Posted by By 16/05/2023Posted inForex
The US dollar is sitting close to a recently made one-month high as US debt ceiling talks continue.
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Turkish Elections and Implications for the Lira as USD/TRY Eyes Fresh Highs

Posted by By 16/05/2023Posted inForex
The Turkish election looks set for a runoff as Turkish Lira observers hope for a policy shift. Will a potential victory for challenger Kemal Kilicdaroglu lead to change in monetary…
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Euro (EUR/USD) Latest: Euro Area GDP Grows by 0.1%, German Economic Sentiment Weakens

Posted by By 16/05/2023Posted inForex
The Euro Area economy expanded by 0.1% in Q1, in line with market forecasts, while German economic sentiment took a turn for the worse.
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Gold Price Forecast: XAU/USD Faces Busy US Focused Trading Day

Posted by By 16/05/2023Posted inForex
Gold prices could be losing their shine as key external factors approach including the US debt ceiling negotiations and Fed speakers.
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Breaking News: UK Employment Data Mixed as Unemployment Rises, GBP/USD Slides

Posted by By 16/05/2023Posted inForex
The UK employment data came in mixed this morning as unemployment ticked higher but average earnings remained steady. GBPUSD continued its slide with a deeper retracement starting to look more…
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Crude Oil Boosted by US SPR Buying and Defies Soft China Data. Higher WTI?

Posted by By 16/05/2023Posted inForex
The crude oil price maintained the gains on a sliding US Dollar overnight after several Fed speakers expressed their differing views. If China continues to struggle, will WTI hold up?
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To What Extent Euro Could Fall? EUR/USD, EUR/GBP, EUR/JPY Price Setups

Posted by By 16/05/2023Posted inForex
Overbought conditions, stretched positioning, and growing doubts about whether the US Fed will pause at its next meeting have triggered a pause in EUR/USD. What is the outlook for EUR/USD,…
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