Latest financial and economic news and analysis
Gold edges lower below $4,100 as markets focus on US-Iran talks
Despite all the headlines, speculation and the artificial move lower in yen pairs over the past week following the first coordinated intervention between the US and Japan in decades, the truth is that the fundamental backdrop that drove USD/JPY and other yen crosses higher has barely changed. That leaves me thinking it's only a matter of when, not if, USD/JPY and other yen crosses resume the gradual grind higher that was underway before the intervention episode.
EUR/JPY Price Forecast: Rebound stalls below 200-day SMA
USD/CHF Price Forecast: Trendline break puts 50-day SMA in focus
Improving risk sentiment helped lift the Australian dollar after easing Middle East tensions and stronger US economic data. While AUD/USD, AUD/JPY and AUD/NZD all advanced, each cross is approaching important technical levels that could determine whether the rally extends or fades.
Gold is showing early signs of renewed strength as it holds above the 20-day moving average, with $4,166 and $4,203 defining key resistance.
It's truly a conundrum for the Bank of Japan. On one hand, they'd probably prefer it if the Japanese Yen didn't weaken dramatically against global currencies, like the US Dollar.
British Pound: Range trade with upside risk against US Dollar – Scotiabank
USD/TRY has been on a persistent and unbroken upward climb yearly since 2013, with consistently bullish monthly candles since June 2024. As of the time of writing, the pair is trading around $47.55.
Over the last few sessions, the USD/CAD has seen a slight appreciation of nearly 0.3% in favor of the US dollar. However, beyond this mild bias, the broader chart picture reflects a prolonged consolidation.
Gold shines and rises on Iran's deal hopes, lower US yields
USD/JPY Price Forecast: 200-day SMA caps rebound after intervention-led selloff
Pound Sterling Price News and Forecast: GBP/USD rebounds as soft JOLTS and Oil decline pressure USD
The American currency is losing ground as traders react to the weaker-than-expected job market report.
USD/CHF enters the new week / month at an important technical crossroads after reversing sharply from major technical resistance at the yearly high. The failed breakout has shifted attention from trend continuation to whether buyers can stabilize the current pullback before it develops into a broader correction.
