Gold, Silver Technical Forecast: Price Action Setups Analysed
Precious metals have eased slightly in the wake of the elevated CPI report. Both gold and silver currently test significant levels of resistance
Precious metals have eased slightly in the wake of the elevated CPI report. Both gold and silver currently test significant levels of resistance
The European Central Bank left all three official rates unchanged as expected. Traders are now focusing on the press conference for any clues on when the ECB will start cutting rates
Japanese finance officials issued a further warning centered around the volatility of recent yen weakness, explicitly mentioning USD/JPY levels currently in play
The U.S. dollar rallied vigorously on Wednesday, fueled by hotter-than-expected U.S. inflation numbers – an upswing that propelled USD/JPY to a fresh 2024 peak and its highest level since June 1990.
In the dynamic realm of forex trading, emerging market currency pairs have garnered significant attention in recent years for their unique blend of volatility and potential returns.
The broad surprise in US CPI data has jolted FX markets ahead of the ECB meeting. Markets have downgraded expectations of Fed cuts, weighing on EUR/USD. EUR/GBP lower
US inflation came in above forecast in March, sending the US dollar sharply higher, as US rate cut expectations are pared back further.
Traders are drawn to volatility due to increased trading opportunities. However, volatile markets require skill, experience, and effective risk management.
The precious metal remains bid and in record high territory, underpinned by ongoing fears in the Middle East. Today’s US inflation data may hamper further progress.
Wednesday's U.S. inflation report has the potential to cause significant volatility, so traders should prepare for the possibility of treacherous market conditions, especially if the incoming data surprises to the upside.