US Dollar and GOLD Technical Analysis

The tug of war between market expectations and U.S. economic data continues and with Fed tightening on the horizon, will the dollar make the much anticipated push higher?

more...

Sovereign bond yields continue to rise while inflation expectations pullback. It’s not a good mix for gold prices.

more...

Data prints coming out of the US may fuel the recent advance in the price of gold as the Fed’s preferred gauge for inflation is expected to increase for the sixth consecutive month.

more...

There’s no two-ways about it: gold prices outperformed our expectations in Q1’22. Our rationale for not taking a bullish outlook on gold was, and still is, well-grounded: central banks, including the Federal Reserve, have begun to winddown pandemic-era stimulus efforts, with rate hike cycles just getting started.

more...

Gold prices charged higher for a second week as US CPI headlines charged the yellow metal’s inflation hedging appeal. However, the good times may not last. While inflation is at more than 40-year highs, forward expectations are beginning to ease. The daily chart is located above 200 SMA in the bullish market condition by crossing 1,981 bullish triangle pattern to above for the primary bullish trend to be continuing.

more...

US Dollar rally may see a short-term pullback on the FOMC announcement. Base case scenario (50 bps hike) could lead to a pause in the USD’s rally.

Daily price is on strong primary bullish trend: the price is testing 103.94 resistance level to above for the bullish trend to be continuing. Alternatively, the price will be on secondary ranging within 101.34/103.94 support/resistance level waiting for the direction of the strong bullish trend to be resumed or to the secondary correction to be started.

more...

The US Dollar lost its footing last week as markets grew more concerned about a recession. FOMC minutes and the Fed'd preferred inflation gauge could offer the USD some life ahead.
Next week could revive some life back into the US Dollar. All eyes are on the FOMC meeting minutes, where the document will reveal further details about this month’s 50-bases point rate hike. A hawkish tone coupled with confidence in the economy could bolster tightening bets. On Friday, the central bank’s preferred inflation gauge, the PCE core deflator, will cross the wires.

more...

Gold prices lost upside momentum this past week as the US Dollar rallied.
Solid non-farm payrolls report underscored the Fed’s economic confidence.
Crude oil prices and May’s US CPI report may keep XAU/USD pressured.

more...

Gold is on course for a weekly loss for the first time in 4-weeks as rising global yields and a surging USD continues to weigh on the precious metal.
The daily price is on secondary ranging within 1879 resistance level for the primary bullish reversal to be started and 1805 support level for the primary bearish trend to be continuing with 1786 support level as a next possible target.

more...

The US Dollar (via the DXY Index) will likely be reminded of the US economy’s weak growth environment in the coming days.

more...