Keep An Eye On Gold And EUR Now

www.investing.com/analysis/keep-an-eye-on-gold-and-eur-now-200600580

By Ashraf Laidi | Sep 01, 2021 12:23AM ET

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EUR/USD

-0.01%

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USD/JPY

-0.20%

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USD/CHF

+0.02%

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USD/CAD

+0.08%

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NZD/USD

-0.09%

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EUR/CHF

+0.01%

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XAU/USD

-0.18%

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Gold

-0.33%

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by Adam Button

The London holiday led to a sluggish start to the week in FX as equities and bonds continued on their post-Powell paths. Since the close of NY trade yesterday, NZD and CHF were the strongest with kiwi powered by a gradual reopening outside Aukland. CAD and JPY were the weakest.

Gold was showing higher lows, ensuring to remain above the 100 and 200 DMAs. EUR/USD was eyeing 1.1895 as long as it sustains the break above 55-DMA. Tuesday's consumer confidence report offered a compelling opportunity.

Monday's trade mostly featured consolidation with most currencies largely unchanged. A large and persistent bid entered into EUR/CHF at the start of European trading in what was likely the SNB taking advantage of less liquidity to push the price higher.

Fundamentally, the US pending home sales and Dallas Fed manufacturing reports both missed estimates. The comments in the Dallas report were notable for a shift away from labor shortages and towards more worry about supply chain bottlenecks and raw materials shortages.

In the bigger picture, there's a growing pattern of soft US economic data that the market is reluctant to recognize.

While the Fed is focused on inflation and jobs, it's the consumer that drives the US economy and recent indications show softness. Moreover, mobility data and airline bookings are showing stalled pandemic progress or weakness. With the eviction moratorium over and jobless benefits expiring this week, is the market and Fed focused on the wrong thing?

EUR/USD Bulls to Get Another Leg Up By Al Brooks - Mar 29, 2023

The EUR/USD formed a High 1 buy setup on March 27th and found buyers above the bar yesterday. A high 1 buy setup after a strong breakout, such as the rally up to March 23rd,...

UK Mortgage Market Reverses, Pound Outlook Bullish By Alexander Kuptsikevich - Mar 29, 2023

UK credit and money supply data published on Wednesday mostly came out weaker than expected, indicating a continued tightening of financial conditions. The unexpected exception was...

AUD/JPY: Pushing to the Top By Scott Barkley - Mar 29, 2023

Bullish: AUD/JPY currently at 88.37 in a channel in range. If we can break resistance here, we are looking for a continuation to the ATR Target/1.618 Fibo at 89.22 with a further...

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Central Banks

Interest Rates

Next Meeting

FED

5.00%

May 03, 2023

ECB

3.50%

May 04, 2023

BOE

4.25%

May 11, 2023

SNB

1.50%

Jun 22, 2023

RBA

3.60%

Apr 04, 2023

BOC

4.50%

Apr 12, 2023

RBNZ

4.75%

May 24, 2023

BOJ

-0.10%

Apr 28, 2023

CBR

7.50%

Apr 28, 2023

RBI

6.50%

Apr 03, 2023

PBOC

3.65%

BCB

13.75%

May 03, 2023

US 30	32,720.6	+3.0	+0.01%
US 500	4,028.6	+0.8	+0.02%
Dow Jones	32,717.60	+323.35	+1.00%
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S&P 500 VIX	19.12	0.00	0.00%
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Crude Oil WTI	72.80	-0.17	-0.23%
Brent Oil	77.36	-0.23	-0.30%
Natural Gas	2.149	-0.034	-1.56%
Gold	1,978.05	-6.45	-0.33%
Silver	23.523	+0.057	+0.24%
Copper	4.0787	-0.0043	-0.11%
US Soybeans	1,476.88	+1.38	+0.09%

U.S. 10Y	3.587	+0.021	+0.58%
U.S. 30Y	3.775	-0.003	-0.09%
U.S. 5Y	3.7096	+0.0350	+0.94%
U.S. 3M	4.8738	+0.1010	+2.11%
US 10Y T-Note	114.33	-0.20	-0.18%
Euro Bund	135.53	-0.03	-0.02%
10-2 Yield Spread	-51.27	-4.04	8.55%

Apple	160.77	+3.12	+1.98%
Alphabet A	101.39	+0.36	+0.36%
Tesla	193.88	+4.69	+2.48%
Amazon.com	100.25	+3.01	+3.10%
Netflix	332.03	+8.51	+2.63%
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Keep An Eye On Gold And EUR Now

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