Gold extends range despite US PCE inflation data miss
By Akhtar Faruqui
7 minutes
GBP/USD rises above 1.2850 ahead of UK Retail Sales figures
GBP/USD continues to strengthen for the second consecutive session, trading around 1.2870 during the Asian hours on Friday. The improved risk sentiment, driven by a stronger-than-expected recovery in US Retail Sales, has eased concerns about a potential US recession and boosted risk-sensitive currencies like the Pound Sterling.
Latest XAU/USD Analysis
Gold extends range despite US PCE inflation data miss
By Akhtar Faruqui
7 minutes
Gold extends range despite US PCE inflation data miss
By Akhtar Faruqui
7 minutes
XAU/USD Technical Overview
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Fundamental Overview
Markets stay risk averse in Asian trading so far this Friday, as they keenly await US Federal Reserve (Fed) Chair JeromePowell’s Jackson Hole appearance for fresh hints on the central bank’s interest-rate path, especially with traders pricing in aggressive Fed rate cuts on signs of loosening labor market conditions.
Risk-off flows boost the haven demand for the US government bonds, weighing on the Treasury bond yields across the curve and thus, dragging the USD lower. The Greenback also bears the brunt of the renewed USD/JPY sell-off, following Bank ofJapan (BoJ) Governor Kazuo Ueda’s hawkish remarks before the parliament on Friday.
Ueda reaffirmed his commitment to raise interest rates if inflation stayed on course to sustainably hit the 2.0% target but remained wary about unstable financial markets. Despite the latest upswing, Gold price looks set to book the second straight weekly loss, as a Fed interest-rate cut for September is a done deal. However, Fed Chair Jerome Powell’s comments are critical to gauging the magnitude of easing expected in the coming months.
Gold price corrected roughly 1% on Thursday after the US Dollar rebounded firmly from over one-year lows against its major rivals, as risk sentiment deteriorated on unimpressive US S&P Global business PMIs and Jobless Claims data. Further, traders resorted to repositioning in the lead-up to Powell’s Jackson Hole showdown on Friday.
SPECIAL WEEKLY FORECAST
Interested in weekly XAU/USD forecasts? Our experts make weekly updates forecasting the next possible moves of the gold-dollar pair. Here you can find the most recent forecast by our market experts:
EUR/USD trades with modest gains amid softer
The EUR/USD pair,12 builds on the ptick of previous day's late .session on Friday. Spot prices, however, struggle to capitalize on the uptick and trade around the 1.0975-1.0980 region, up just over 0.05% for the day.
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METALS BULLISH THEMES
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Latest XAU/USD Analysis
USD/CAD falls toward 1.3700 due to improved risk sentiment, Oil’s weekly gains
By
Aug 30,16:59 GMT
USD/CAD falls toward 1.3700 due to improved risk sentiment, Oil’s weekly gains
By
Aug 30,16:59 GMT
USD/CAD falls toward 1.3700 due to improved risk sentiment, Oil’s weekly gains
By
Aug 30,16:59 GMT
USD/CAD falls toward 1.3700 due to improved risk sentiment, Oil’s weekly gains
By
Aug 30,16:59 GMT
Editors Picks
EUR/USD stays below 1.1100, looks to post weekly losses
EUR/USD continues to trade in a narrow range below 1.1100 and remains on track to end the week in negative territory. Earlier in the day, monthly PCE inflation data from the US came in line with the market expectation, failing to trigger a reaction.
GBP/USD News
EUR/USD stays below 1.1100, looks to post weekly losses
EUR/USD continues to trade in a narrow range below 1.1100 and remains on track to end the week in negative territory. Earlier in the day, monthly PCE inflation data from the US came in line with the market expectation, failing to trigger a reaction.
GBP/USD News
EUR/USD stays below 1.1100, looks to post weekly losses
EUR/USD continues to trade in a narrow range below 1.1100 and remains on track to end the week in negative territory. Earlier in the day, monthly PCE inflation data from the US came in line with the market expectation, failing to trigger a reaction.
GBP/USD News
EUR/USD stays below 1.1100, looks to post weekly losses
EUR/USD continues to trade in a narrow range below 1.1100 and remains on track to end the week in negative territory. Earlier in the day, monthly PCE inflation data from the US came in line with the market expectation, failing to trigger a reaction.
GBP/USD News
EUR/USD stays below 1.1100, looks to post weekly losses
EUR/USD continues to trade in a narrow range below 1.1100 and remains on track to end the week in negative territory. Earlier in the day, monthly PCE inflation data from the US came in line with the market expectation, failing to trigger a reaction.
GBP/USD News
Majors
USD/CAD falls toward 1.3700 due to improved risk sentiment, Oil’s weekly gains
By
7 minutes ago
USD/CAD falls toward 1.3700 due to improved risk sentiment, Oil’s weekly gains
By
7 minutes ago
Cryptocurrencies
USD/CAD falls toward 1.3700 due to improved risk sentiment, Oil’s weekly gains
By
7 minutes ago
USD/CAD falls toward 1.3700 due to improved risk sentiment, Oil’s weekly gains
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7 minutes ago
Signatures
USD/CAD falls toward 1.3700 due to improved risk sentiment, Oil’s weekly gains
By
7 minutes ago
USD/CAD falls toward 1.3700 due to improved risk sentiment, Oil’s weekly gains
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7 minutes ago
Gold/Sliver Ratio
This ratio normally goes well during risk aversion, while it falls off during times of risk-on. If this ratio is about to turn, or at key levels where it could turn, the trader looks to the Equity indices if the risk has indeed been on and if it is about to turn as well.
When the ratio is rising, it means gold is outperforming silver, and when the line is falling, the first term is doing worse, i.e., silver is doing better. In other words, when the ratio is high, the general consensus is that silver is favored. Conversely, a low ratio tends to favor gold and may be a signal it’s a good time to buy the yellow metal. Despite the gold-to-silver ratio fluctuating so wildly, another way of using it is to switch holdings between silver and gold when the ratio swings to historically determined "extremes."
Read more about gold versus silver:
USD/CAD falls toward 1.3700
Przemyslaw Radomski, CFA
Sunshine Profits
USD/CAD falls toward 1.3700
Przemyslaw Radomski, CFA
Sunshine Profits
About Gold
XAU/USD, Gold
In the Forex market, gold is a form of currency. The particularity of gold is that it can only be traded against United States dollars (USD). The internationally accepted code for gold is XAU. It is known to be a “safe-haven” asset, it is expected to increase its value in times of volatility and economic uncertainty.
The XAU/USD pair tells the trader how many US Dollar (the quote currency) are needed to purchase one Gold Ounce (the base currency). United States is the country that holds the biggest resources of gold in the world.
ORGANIZATIONS THAT INFLUENCE XAU/USD THE MOST
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Lorem ipsum dolor sit amet consectetur, adipisicing elit. Deleniti consequuntur dignissimos amet aut quisquam, suscipit optio nulla voluptatum illo. Atque laborum eveniet molestias eius illo harum sequi quam adipisci ea autem numquam earum nisi dolor culpa tempore beatae reiciendis maxime, ut deleniti dolorum et dignissimos quas. Amet architecto eligendi natus quibusdam ex ipsam facere. Beatae ullam, sit at dicta nam dolores veritatis quia hic illum cumque, est commodi, dolorum enim fuga nulla iusto ipsam. Molestias sequi atque accusantium neque ducimus blanditiis.
PEOPLE THAT INFLUENCE XAU/USD THE MOST
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ECONOMIC DATA THAT INFLUENCE XAU/USD THE MOST
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ASSETS THAT INFLUENCE XAU/USD THE MOST
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Lorem ipsum dolor sit amet consectetur, adipisicing elit. Deleniti consequuntur dignissimos amet aut quisquam, suscipit optio nulla voluptatum illo. Atque laborum eveniet molestias eius illo harum sequi quam adipisci ea autem numquam earum nisi dolor culpa tempore beatae reiciendis maxime, ut deleniti dolorum et dignissimos quas. Amet architecto eligendi natus quibusdam ex ipsam facere. Beatae ullam, sit at dicta nam dolores veritatis quia hic illum cumque, est commodi, dolorum enim fuga nulla iusto ipsam. Molestias sequi atque accusantium neque ducimus blanditiis.
Gold Education Tips
USD/CAD falls toward 1.3700 due to improved risk sentiment, Oil’s weekly gains
By
Aug 30, 16:59 GMT
USD/CAD falls toward 1.3700 due to improved risk sentiment, Oil’s weekly gains
By
Aug 30, 16:59 GMT
USD/CAD falls toward 1.3700 due to improved risk sentiment, Oil’s weekly gains
By
Aug 30, 16:59 GMT
USD/CAD falls toward 1.3700 due to improved risk sentiment, Oil’s weekly gains
By
Aug 30, 16:59 GMT
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