📊 Daily Report Breakdown 📊
Gold Dynamics and Associated Factors:
1. Gold Price Movement: Gold currently trades around $1,915, facing selling pressure due to the USD's strength.
2. US Dollar Index (DXY): The DXY remains robust, hovering at 105.95, just off a peak level since November at 106.09.
3. US T-Bond Yields: The 10-year yield has spiked to 4.53%, a level unseen since October 2007, which is pressuring non-yielding assets like gold.
4. Fed's Stance: A majority of Federal Reserve officials anticipate further rate hikes this year. Officials like Susan Collins and Mary Daly stress the need for more hikes even as inflation cools. Austan Goolsbee of the Chicago Fed notes the potential for a soft economic landing but underscores the persistent inflation risks.
5. Upcoming US Data: Key data points include the Q2 US GDP Annualized releasing on Thursday, followed by the highly anticipated Core PCE Price Index on Friday. The latter is expected to slide from 4.2% to 3.9%.
6. XAU/USD Technical Outlook: On an hourly chart, Gold remains below the 50- and 100-hour EMAs, indicating bearish momentum. RSI also confirms bearishness as it's below 50.
Gold Dynamics and Associated Factors:
1. Gold Price Movement: Gold currently trades around $1,915, facing selling pressure due to the USD's strength.
2. US Dollar Index (DXY): The DXY remains robust, hovering at 105.95, just off a peak level since November at 106.09.
3. US T-Bond Yields: The 10-year yield has spiked to 4.53%, a level unseen since October 2007, which is pressuring non-yielding assets like gold.
4. Fed's Stance: A majority of Federal Reserve officials anticipate further rate hikes this year. Officials like Susan Collins and Mary Daly stress the need for more hikes even as inflation cools. Austan Goolsbee of the Chicago Fed notes the potential for a soft economic landing but underscores the persistent inflation risks.
5. Upcoming US Data: Key data points include the Q2 US GDP Annualized releasing on Thursday, followed by the highly anticipated Core PCE Price Index on Friday. The latter is expected to slide from 4.2% to 3.9%.
6. XAU/USD Technical Outlook: On an hourly chart, Gold remains below the 50- and 100-hour EMAs, indicating bearish momentum. RSI also confirms bearishness as it's below 50.
📈 Analysis 📈
Insights & Recommendations:
1. USD Strength: The recent rally in the USD, combined with high yields, continues to be a significant headwind for Gold. It's crucial to watch for any shifts in this dynamic.
2. Fed's Position: The persistent emphasis on additional rate hikes, even with easing inflation, signifies a more hawkish stance from the Federal Reserve. This could further amplify the challenges for gold.
3. Critical Data Ahead: The upcoming GDP and PCE data will be crucial. A decline in the PCE index could indicate easing inflationary pressures which might provide temporary relief for Gold. However, the overall trend remains bearish.
✨ Trade Recommendations ✨
- Short-Term Traders: Given the bearish technical setup and impending data releases, consider a short bias on Gold, with potential targets at the mentioned support levels. Always employ a suitable risk management strategy.
- Long-Term Traders: The broader outlook for Gold remains bearish due to the strong USD and potential rate hikes. Consider portfolio diversification and hedging strategies.
🌟 Conclusion 🌟
The current environment remains challenging for Gold, predominantly influenced by a strong US Dollar and the Fed's stance on rate hikes. The upcoming data releases will provide more clarity, but the initial trend remains bearish. Trade with caution and keep an eye on evolving market dynamics.
Insights & Recommendations:
1. USD Strength: The recent rally in the USD, combined with high yields, continues to be a significant headwind for Gold. It's crucial to watch for any shifts in this dynamic.
2. Fed's Position: The persistent emphasis on additional rate hikes, even with easing inflation, signifies a more hawkish stance from the Federal Reserve. This could further amplify the challenges for gold.
3. Critical Data Ahead: The upcoming GDP and PCE data will be crucial. A decline in the PCE index could indicate easing inflationary pressures which might provide temporary relief for Gold. However, the overall trend remains bearish.
✨ Trade Recommendations ✨
- Short-Term Traders: Given the bearish technical setup and impending data releases, consider a short bias on Gold, with potential targets at the mentioned support levels. Always employ a suitable risk management strategy.
- Long-Term Traders: The broader outlook for Gold remains bearish due to the strong USD and potential rate hikes. Consider portfolio diversification and hedging strategies.
🌟 Conclusion 🌟
The current environment remains challenging for Gold, predominantly influenced by a strong US Dollar and the Fed's stance on rate hikes. The upcoming data releases will provide more clarity, but the initial trend remains bearish. Trade with caution and keep an eye on evolving market dynamics.
🌍 US Dollar & Market Update - Tuesday, September 26
📌 Key Points:
- US Dollar Index (DXY) teasing 106.00 mark, highest since November. Current position: 105.90.
- Strong Greenback bolstered by cautious market sentiment and 10-year US Treasury yield spike to 4.54% (highest since Oct 2007).
- All eyes on Friday: Release of Fed's favored inflation measure, the Core Personal Consumption Expenditures Price Index.
🔍 Forex & Currency Insights:
- Chinese Yuan: Facing challenges, watch out for Evergrande developments.
- EUR/USD: On a downtrend, now below 1.0600 despite ECB President Lagarde's remarks on restrictive rates.
- EUR/GBP: Slipped from 0.8700 to 0.8670.
- GBP vs USD: Pound dips, crossing below 1.2200 after Bank of England's recent dovish views.
- USD/JPY: Surging, now near 149.00 mark. Ongoing rally despite potential Japanese intervention concerns.
- USD/CAD: Slight dip to 1.3450, while AUD/USD nears 0.6400 but rebounds slightly to 0.6420.
📉 Metals Report:
- Gold: Broke below $1,920, nearing $1,915 support.
- Silver: Declined 1.85%, now around the $23.00 mark.
📌 Key Points:
- US Dollar Index (DXY) teasing 106.00 mark, highest since November. Current position: 105.90.
- Strong Greenback bolstered by cautious market sentiment and 10-year US Treasury yield spike to 4.54% (highest since Oct 2007).
- All eyes on Friday: Release of Fed's favored inflation measure, the Core Personal Consumption Expenditures Price Index.
🔍 Forex & Currency Insights:
- Chinese Yuan: Facing challenges, watch out for Evergrande developments.
- EUR/USD: On a downtrend, now below 1.0600 despite ECB President Lagarde's remarks on restrictive rates.
- EUR/GBP: Slipped from 0.8700 to 0.8670.
- GBP vs USD: Pound dips, crossing below 1.2200 after Bank of England's recent dovish views.
- USD/JPY: Surging, now near 149.00 mark. Ongoing rally despite potential Japanese intervention concerns.
- USD/CAD: Slight dip to 1.3450, while AUD/USD nears 0.6400 but rebounds slightly to 0.6420.
📉 Metals Report:
- Gold: Broke below $1,920, nearing $1,915 support.
- Silver: Declined 1.85%, now around the $23.00 mark.
BUY LIMIT GBPNZD @ 2.0340
SL: 2.0300
TP1: 2.0360
TP2: 2.0380
TP3: 2.0460
SL: 2.0300
TP1: 2.0360
TP2: 2.0380
TP3: 2.0460
GOLD BUY ZONE (1910-1909)
TP1: 1911.5
TP2: 1913
TP3: 1915
STOP LOSS: 1903
TP1: 1911.5
TP2: 1913
TP3: 1915
STOP LOSS: 1903
👍1
Stay calm and relaxed guys. The market
must not control you! But yea that drop
was just stupid 😵
must not control you! But yea that drop
was just stupid 😵
Alert and do it !
Let's close half and set +BE. Risk-free trade ok☝️
Let's close half and set +BE. Risk-free trade ok☝️
Forwarded from DOMINION MARKET'S
Thanks to new people that sign up in the company and investors that participated
The offer is just 4 seats left
The offer is just 4 seats left
Forwarded from John Mark
I want to reinvest sir your platform is so legit and I have been in your free channel and I will like to invest $3000 how can I start