Gold vulnerable as 200-day SMA comes into play amid firmer USD

Gold vulnerable as 200-day SMA comes into play amid firmer USD

Gold (XAU/USD) maintains its heavily offered tone heading into the European session and currently trades just above a two-month low, touched earlier this Thursday. Meanwhile, the commodity seems vulnerable to extending an intraday breakdown below the $4,400 mark, or a technically significant 200-day Simple Moving Average (SMA), as a fresh escalation of tensions in the […]

Canadian Dollar holds near April lows as firm USD offsets Oil rebound

Canadian Dollar holds near April lows as firm USD offsets Oil rebound

The USD/CAD pair attracts buyers for the third consecutive day and trades near mid-1.3800s, or its highest level since April 13, during the Asian session on Thursday. Spot prices look to build on the previous day’s breakout momentum through a technically significant 200-day Simple Moving Average (SMA) amid a broadly firmer US Dollar (USD), bolstered […]

Pound Sterling sleepwalks toward Bailey, not PCE

Pound Sterling sleepwalks toward Bailey, not PCE

Sterling traders are spending the week parsing the wrong calendar. The pair has drifted from around 1.3500 down toward 1.3400, and the consensus has tied that move to Thursday’s US Core Personal Consumption Expenditures Price Index (PCE) print and the wall of Federal Reserve (Fed) speakers in between. The framing is convenient, but it misses […]