
Euro: Upside bias targets 1.1725 against US Dollar – UOB
Euro: Upside bias targets 1.1725 against US Dollar – UOB
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Euro: Upside bias targets 1.1725 against US Dollar – UOB

Gold Soars, Dollar collapsed

Gold is easing slightly after rallying 4% in the previous session to a two-month high, following a U.S. Treasury announcement aimed at supporting long-duration bonds that weakened the dollar and pulled Treasury yields lower.

The Gold price pares gains after testing its strongest level since June as hawkish Federal Reserve minutes checked the rally sparked by lower Treasury yields. Gold prices retreated on Thursday after coming within around $20 of June's high, with traders taking profits following the previous session's surge.

Silver price today: Silver falls, according to FXStreet data

XAUUSD pushing higher Gold (XAUUSD) had a day to remember after jumping over $100 in value. The yellow metal has secured a foothold around the psychological level of 4500, and a tentative break here would suggest further buying pressure.

EUR/USD Price Forecast: Doubling US bond-buying plan opens way for 1.1800

GBP/USD at three-month high: Outlook hinges on economic data

The US dollar has come under moderate pressure as long-term US Treasury yields have declined. Another factor has been the US Treasury Department's decision to increase buyback operations for securities with maturities ranging from 10 to 30 years in an effort to support market liquidity.

Consumer inflation accelerated to 2.9% in July, up from 2.6% in June and in line with forecasts. Core inflation held steady at 2.6%.

Gold (XAU/US) has been on a tear to the upside since the start of August 2026. The precious yellow metal has staged a 10% rally from the potential major swing low of $3,942, printed on 30 June 2026, to Tuesday, 18 August 2026's closing level of $4,335.

Gold (XAU/USD) has staged a major bullish breakout, surging 4.35% on 19 August for its largest one-day gain since February 2026. The rally reflects growing US dollar debasement and fiscal-dominance concerns following larger US Treasury bond buybacks.

The Pound to Dollar (GBP/USD) exchange rate jumped above 1.3600 on Wednesday, reaching its strongest level since May as falling Treasury yields hit the US Dollar. Pound Sterling's own UK inflation backdrop was broadly neutral.

Euro: Spikes higher against US Dollar on Treasury buybacks – Danske Bank

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