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Markets: At the start of trading this morning, core (US) bonds showed tentative signs of taking a breather after their recent rally. However, French data again perfectly fit the recent bond friendly market momentum. French Q3 GDP growth was downwardly revised from +0.1% to -0.1%. October consumer spending fell off a cliff (-0.9% M/M) and, […]

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06/06/2024

EURGBP Tests a Key Support Area

EURGBP edges higher today ahead of crucial ECB meeting Strong downside pressure in place despite UK elections being in the spotlight Momentum indicators are mostly mixed at this juncture EURGBP is trading higher today, a tad above its lowest level since August 2022, and in an extremely important support area that has repeatedly acted as […]
24/07/2024

Gold Seeks New Buyers to Trim Rapid Downfall

Gold turns up again after brutal downfall Short-term risk is positive, but caution required near 2,430-2,438 US S&P Global PMIs could generate fresh volatility at 13:45 GMT Gold found fresh buying interest after its aggressive pullback from a record high of 2,483 paused at 2,383. The precious metal is currently looking to gain more ground following its close […]
31/01/2024

Gold Develops Ascending Triangle in Near-Term

Gold struggles to surpass 2,037 and 200-period SMA RSI and MACD move horizontally Short-term outlook looks neutral-to-bullish Gold prices are flirting with the 2,037 resistance level and the 200-period simple moving average (SMA) in the 4-hour chart, creating an ascending triangle. Technically, the RSI is moving horizontally above the 50 level, while the MACD is […]