Gold Futures: Scope for extra gains
Traders added around 5.7K contracts and volume rose by nearly 61.3k contracts on Monday, according to preliminary figures from CME Group for Gold futures markets. Read more...
Gold corrects from multi-week tops, slides further below $1650 level
Gold finally broke down of its Asian session consolidation phase and dropped to fresh session lows, around the $1645 region in the last hour.
The commodity failed to capitalize on its early uptick to the $1674 region, or near four-week tops and witnessed a modest intraday pullback. A further improvement in the global risk sentiment, as depicted by some strong follow-through positive move in the equity markets, was seen exerting some pressure on traditional safe-haven assets, including gold. Read more…
Forex Today: Dollar falls, gold up amid upbeat COVID-19 data, Boris' ICU stay causing concerns
UK Prime Minister Boris Johnson is in intensive care and receiving oxygen amid complications from COVID-19. The dramatic news has sent the pound lower after previous messages from the government aimed to calm the public. Foreign secretary Dominic Raab has taken over as the UK is set to reach the peak of the disease in the coming days. Read more...
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EUR/USD steady below 1.0800 after US PCE meets expectations
EUR/USD remains depressed below 1.0800 after soft French inflation data, amid minimal volatility and thin liquidity on Good Friday. The pair barely reacted to US PCE inflation data, with the Greenback shedding some pips. Fed Chair Jerome Powell set to speak ahead of the weekly close.
GBP/USD hovers around 1.2620 in dull trading
GBP/USD trades sideways above 1.2600 amid a widespread holiday restraining action across financial markets. Investors took a long weekend ahead of critical United States employment data next week. Fed Chair Powell coming up next.
Gold price sits at all-time highs above $2,230
Gold price holds near a fresh all-time high at $2,236 in thinned trading amid the Easter Holiday. Most major world markets remain closed, although the United States published core PCE inflation, the Federal Reserve’s favorite inflation gauge.
Jito price could hit $6 as JTO coils up inside this bullish pattern
Jito (JTO) price has been on an uptrend since forming a local bottom in early January. Since then, JTO has revisited the key swing point formed in early December, suggesting the bulls’ intention to move higher.
Key events in developed markets next week
Next week, the main focus will be inflation and the labour market in the Eurozone. We expect services inflation to be impacted by the easter effect, while the unemployment rate to be unchanged.