Gold edged higher on Wednesday after cracking important $4500 support zone (50% retracement of $4099/$4889 rally / recent higher base) which provides significant headwinds to larger bears. Partial profit-taking on oversold conditions / eased tensions in the Middle East on the latest narrative from US officials about potential peace agreement,…

The dollar regained traction on Tuesday, after significant drop previous day and attacks again key barriers at $99.20/30 (Fibo 61.8% of 100.48/$97.40 descend / daily Ichimoku cloud top) where the action was repeatedly capped in past two sessions. Persisting uncertainty from geopolitical side and recent shift in Fed policy outlook (rising…

Brent oil price spiked to two-week high in early Monday trading, extending last week’s 4.5% advance, driven by fragile situation in the Middle East and fading prospects for peace after the latest attack on a nuclear power plant in the UAE. Fresh extension of the bull-leg from $96.09 (May 7 higher low) probed through psychological $110 barrier…

The dollar advances for the fourth consecutive day, riding on the wave of fresh risk aversion and being boosted by shift in Fed rate outlook, as rising inflation revives speculations of potential rate hike this year. The dollar index hit one month high on Friday, after cracking key barriers at $99.00 zone (former multiple tops / 50% retracement…

Gold holds in red for the second consecutive day, pressured by stronger dollar on growing uncertainty in the Middle East and sidelined expectations for potential Fed rate cuts, as inflation in the US rose further (both consumer and producer price index rose significantly in April). Fundamentals, however, show mixed signals as Fed is likely to…

USDJPY advances for the third straight day, as stalling peace talks in the Middle East fuel uncertainty and boost dollar’s safe-haven appeal, while fresh rise of inflation in the US adds to Fed’s hawkish stance that underpins the greenback. Fresh advance emerged after USDJPY’s strong fall from Japan’s authorities’ interventions, ran out of steam…

Cable fell around 0.8% on Tuesday on deepening political crisis, following calls from a number of lawmakers to PM Starmer to step down after his Labour Party suffered heavy losses in recent local elections. Fresh weakness of sterling and shares, as well as rise of UK long-dated borrowing costs to the highest in three decades, came because of a…

Bitcoin continues to trade above 80K mark that keeps near-term action biased higher, with broader uptrend (BTC is moving within a bull-channel off Mar 30 higher low) being fully in play so far. Fresh recovery leg from 79136 (May 8 correction low) is steady, but gains are gradual and facing increased headwinds from key near-term barriers at 82800…