Gold inched up on USD´s slump

Gold is up on a weaker USD
Gold is also being boosted by probability of higher US fiscal deficits & inflation.

Gold is now trading around 1,330, in New York session and inched up by almost 0.27% on a slump in USD. Apart from a weaker USD, Gold and other precious metals are also being boosted by appeal of an alternative inflation hedged asset on concerns about Trump's spending plans, which will eventually boost the US fiscal deficit and inflation.

Also, fresh North Korean saber rattling by director of US national intelligence may have boosted the risk-aversion move today. Thus safe-haven assets like Gold and Yen is also on upbeat mood. US national intelligence director today said that “time coming ever closer on North Korea”.

USD came under sudden pressure today in the late Asian session. Although the exact reason is not clear till now, it may be a combination of several factors relating to Kuroda (BOJ Gov) reappointment, talk of back door tapering by BOJ (Bank of Japan), curb on FX positions by Japan and a high probable appointment of a hawkish person as Dy BOJ Gov.

Although Japanese PM (Abe) has not confirmed Kuroda´s reappointment, as par some market buzz, Kuroda may be reappointed for an eventual change in policy guidance by BOJ in the days ahead. Kuroda may help the market for an orderly movement, considering his experience in jawboning and controlling the market.

On the other side, market may be also concerned that, if Kuroda will not be reappointed, then the next BOJ Gov would be not so dovish like Kuroda. Thus this BOJ Gov issue may be a double whammy for the USD now and Gold is a prime beneficiary of that USD weakness.

Technical View:

Price action suggests that Gold now has to sustain above 1.335 area for further rally towards 1355-1366 price zone in the coming days; otherwise it may again fall towards 1305-1285 zone.

EUR/USD holds losses near 1.1850 as US, China holidays keep trade muted

EUR/USD opens the week on a softer note, trading near 1.1860 during the Asian session on Monday. Activity is likely to remain muted, with United States markets closed for the Presidents’ Day holiday, while Mainland China is also shut for the week-long Lunar New Year break.

GBP/USD flat lines as traders await key UK macro data and FOMC minutes

The GBP/USD pair kicks off a new week on a subdued note and oscillates in a narrow range, just below mid-1.3600s, during the Asian session. Moreover, the mixed fundamental backdrop warrants some caution for aggressive traders as the market focus now shifts to this week's important releases from the UK and the US.

Gold buyers hesitate amid holiday-thinned trading

Gold trades volatile, but within range, as US, China holidays-led thin trading exaggerates moves. The US Dollar extends range play into the US GDP week, with markets pricing at least two Fed rate cuts this year. Technically, Gold tests key support at $5,000; daily RSI still remains bullish.

Top Crypto Losers: Dogecoin, Zcash, Bonk – Meme and Privacy coins under pressure

Meme coins such as Dogecoin and Bonk, alongside the privacy coin Zcash (ZEC), are leading the broader market losses over the last 24 hours. DOGE, ZEC, and BONK ended their three consecutive days of recovery with a sudden decline on Sunday, as crucial resistance levels capped the gains. Technically, the altcoins show downside risk, starting the week under pressure.

Global inflation watch: Signs of cooling services inflation

Realized inflation landed close to expectations in January, as negative base effects weighed on the annual rates. Remaining sticky inflation is largely explained by services, while tariff-driven goods inflation remains limited even in the US.

Ripple Price Forecast: XRP potential bottom could be in sight

Ripple edges up above the intraday low of $1.35 at the time of writing on Friday amid mixed price actions across the crypto market. The remittance token failed to hold support at $1.40 the previous day, reflecting risk-off sentiment amid a decline in retail and institutional sentiment.