After falling to 1970 precious metal Gold has shown signs of recovering back to around 2009, closing yesterday's session around 1996.After falling to 1970 precious metal Gold has shown signs of recovering back to around 2009, closing yesterday's session around 1996.

 📕 Comment on Gold on 11/03/2022:

 - After falling to 1970 precious metal Gold has shown signs of recovering back to around 2009, closing yesterday's session around 1996. This shows that the downward pressure of Gold shows signs of slowing down.  In addition to the current developments and news, there is still no sign of any signs of the war cooling down, de-escalating as the Russian army continues to move towards the capital Kyiv and open more.  attacks on major cities of Ukraine.  In my personal opinion, the possibility of Gold will still be pushed up in today's trading session.

 - On the h4 time frame we can see the closest support for this precious metal is around the 1973-1982 range.  Here, investors can establish a buy position with a safe target around the 2008-2015 threshold.

(Reuters) -The dollar rose on Monday along with the yen and Swiss franc as investors rushed into safe-haven assets on fears that Russia is preparing to invade Ukraine.

Russia could make such a move at any time and might create a surprise pretext for an attack, according to the United States, which reaffirmed on Sunday a pledge to defend "every inch" The dollar index rose 0.4% to 96.328, its highest since Feb. 1.

of NATO territory. Moscow denied any such plans and has accused the West of 

FOREX ADVICE CLUB is the fastest team of forex,comex,gold or klse they having9+ years of experience

Euro-dollar one-month implied volatility was at 7.6%, from below 6% at the end of January.

The rouble was 0.1% lower at 77.20 against the dollar, after tumbling to its lowest since January 28 on Friday as investors ditched Russian assets.

Commerzbank (DE:CBKG) analysts pointed out that “European dependency on Russian energy makes the cyclical economic performance of the euro zone particularly vulnerable in case of an escalation of the conflict in Ukraine.”

The euro was down 0.3% at $1.1318, after hitting its lowest level since Feb. 3 at $1.1305.

The euro weakened on Friday when a rush into safe-haven assets overshadowed expectations for monetary policy tightening from the European Central Bank.

ECB president Christine Lagarde had also dampened some of the bullish euro sentiment by reiterating that any policy action will be gradual.

The U.S. Federal Reserve will release its January meeting minutes on Wednesday, but analysts said central bank action was unlikely to return to the spotlight until the risk of an escalation over Ukraine recedes.

A rush into safe-haven assets has propped up the Japanese yen since Friday, while the Bank of Japan successfully defended its key bond yield target on Monday, holding the line on its ultra-loose monetary policy.

The yen rose 0.3% to 115.16 against the dollar, and 0.5% against the euro.

“These two currencies (the U.S. dollar and the yen) – as well as the Swiss franc – should remain bid until, and if, we get indications that a diplomatic solution is in sight,” ING analysts said, adding that “markets are adopting a wait-and-see approach on geopolitics at the start of the new week.”

We “flag quite significant downside risks for exposed currencies - directly the rouble and indirectly all pro-cyclical currencies and especially the European ones - should tension escalate further,” ING said.

The Swiss franc rose 0.4% against the euro to 1.0452, its highest since Feb. 3.

In cryptocurrencies, bitcoin was down 1% at around $42,116.

Dollar is Lower; Tight Range Ahead of Inflaton

 The U.S. dollar edged lower Wednesday, but remained in a tight range the day before the release of key inflation data which could confirm the start of the Federal Reserve’s policy tightening process. 

At 2:55 AM ET (0755 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.1% lower at 95.580, after bouncing off a 2-1/2-week low of 95.136 reached Friday. 

 FOREX ADVICE CLUB HAVE THE BEST RESEARCH TEAM AND THEY ARE PROVIDING FREE TRIALS IN GOLD,CURRENCIES,CRYPTOS .

The speed and timing of when central banks across the world start to lift interest rates is the main factor driving the foreign exchange markets these days, and in particular the Federal Reserve given the importance of the U.S. economy to global growth.

The dollar received a boost at the end of last week with the release of a much stronger than expected jobs report, and Thursday’s consumer price index should cement expectations that the U.S. central bank will raise interest rates next month.

The headline CPI is seen rising 0.5% on the month and 7.3% on the year in January, climbing to a four-decade high. Most in the market expected the Fed to lift interest rates by 25 basis points in March, a stronger print could offer support to those tipping a larger 50 basis point rise.

“We think that Friday’s payrolls numbers have helped build a floor under the dollar as markets should continue to cement their hawkish views on Fed tightening into the March meeting,” said analysts at ING, in a note.

Elsewhere, EUR/USD edged lower to 1.1412, retreating from the highs seen last week after the European Central Bank policy meeting, as President Christine Lagarde tried Monday to rein in these expectations for aggressive action with growth in the Eurozone still fragile.

“We still think that the market pricing of more than 50bp of higher overnight rates, i.e. around two 25bp rate hikes, until the end of the year looks excessive,” said analysts at Nordea, in a note.

Additionally, GBP/USD edged lower to 1.3538, USD/JPY fell 0.1% to 115.45, after the pair briefly touched a one-month high, while the risk-sensitive AUD/USD climbed 0.1% to 0.7148.

USD/PLN rose 0.1% to 3.9652 and EUR/PLN was flat at 4.5240, the day after Poland’s central bank lifted its benchmark rate by 50 basis points to 2.75%, increasing interest rates for a fifth consecutive month to an almost nine-year high in an attempt to curb record inflation levels.

Later Wednesday, the Riksbank holds its latest policy-setting meeting, with the markets increasingly looking at still-dovish central banks given the recent shift in many of their peers.

“The Swedish economy has overall developed better than projected by the Riksbank,” said Nordea, and “the development is strong enough for the Riksbank to trim its balance sheet.”

“However, we do not expect inflation to remain high long enough for the Riksbank to consider a rate hike.”

EUR/SEK traded 0.1% lower at 10.4226 and USD/SEK also down 0.1% at 9.1358.

NEWYORK SESSION Today

 * DXY CORRECTION is currently in progress.  Most likely after the NEWYORK SESSION today the USD is more likely to STRONG again.

 * VIX INDEX is currently moving to DOWN SIDE.  VIX 24.83 is in the PRICE LEVEL.  However, if you fall below the VIX 20 LEVEL, the DEMAND for HIGH BEATA CURRENCIES can go up.

We kow the updates Forex Advice Club is presenting free trials with 90% accuracy.

 * RBA MEETING was held today.  However, they did not make any changes to the INTEREST RATE.  They expect to end QE on February 10th.  They further stated that LABOR DATA and INFLATION DATA FOCUS.  They say that LABOR DATA will be much better in the future than they expected.  They expect a 2% growth in GDP in 2023.  They say inflation will rise to around 3% in the coming quarters.

XAU/USD Price Forecast: Technical outlook

 

FOREX ADVICE CLUB

XAU/USD Price Forecast: Technical outlook

Gold is trading near the bottom of a Pitchfork’s channel, drawn from the beginning of December, as depicted by the daily chart. That trendline intersects with a downslope trendline, drawn from August 2020 swing highs, acting as resistance for the non-yielding metal around $1,790-$1,800. Furthermore, the daily moving averages (DMAs) reside above the spot price. Therefore, XAU/USD is downward biased.

The first support level would be December 15, 2021,  swing low at $1,753. A breach of the latter would expose October 6, 2021, a daily low at $1746, followed by September 29, 2021, a low at $1,721

 FOREX ADVICE CLUB is the right place for daily news and updates for the  best analyzed sifnals in forex,comex,crypto,KLSE & US Stocks

We know about BTC

Ethereum was trading at $2,838.02 by 06:34 (11:34 GMT) on the Index on Friday, down 10.02% on the day. It was the largest one-day percentage loss since November 26, 2021.

The move downwards pushed Ethereum's market cap down to $340.50B, or 18.63% of the total cryptocurrency market cap. At its highest, Ethereum's market cap was $569.58B.

Ethereum had traded in a range of $2,812.19 to $3,032.69 in the previous twenty-four hours.

Over the past seven days, Ethereum has seen a drop in value, as it lost 11.17%. The volume of Ethereum traded in the twenty-four hours to time of writing was $19.90B or 18.90% of the total volume of all cryptocurrencies. It has traded in a range of $2,812.1914 to $3,388.2209 in the past 7 days.

At its current price, Ethereum is still down 41.65% from its all-time high of $4,864.06 set on November 10, 2021.

In this case FOREX ADVICE CLUB knows the better way to get profit.

Elsewhere in cryptocurrency trading

Bitcoin was last at $38,698.3 on the Investing.com Index, down 8.20% on the day.

Tether was trading at $1.0003 on the Investing.com Index, a gain of 0.00%.

Bitcoin's market cap was last at $735.81B or 40.26% of the total cryptocurrency market cap, while Tether's market cap totaled $78.29B or 4.28% of the total cryptocurrency market value.

Top Forex News by Money Life Research

 🌈 Notable facts and economic data today

 - Today, UK will publish the initial value of the first quarterly GDP annual rate.

 - Today, the IEA publishes the monthly crude market report.

 - Today the US will announce the unadjusted annual CPI rate in April, which is expected to be 3.6%.

 - Today, Fed Vice President Clarida will attend the National Business Economics Association's Global Forum on post-translation global economies to host a discussion.

Subscribe to #MoneyLifeResearch #ForexSignals #BestForexSignals Live Forex Signals

Comment on Gold on May 7, 2021

  ‼️ ️In yesterday's session, gold precious metal had a fairly strong growth span from 1781 to 1817 ($ 36) and closed the session yesterday with a bullish candle that surpassed the resistance zone 1800-1804  and heading towards the next resistance around 1821-1825.

 - D1 timeframe we can see when a resistance is broken it turns into a new support zone and we wait for the price to come back to buy but in my opinion the possibility of a rally.  In the beginning of the session today, it is a bit difficult to happen, but in my opinion, if Gold returns here, the possibility of yesterday's trading day will be a "fake breakout" and will go down again.

 - Tonight, the US announced the Nonfarm payroll report for April and closed the weekly candle, so I think there will be 2 possible scenarios.  Firstly, Gold may move sideways to continue its uptrend, break up to the 1821-1825 price range, and then decrease again.  The second is that this metal is likely to fall to its sideways price zone that it broke yesterday to become a "fake breakout".

Subscribe to #MoneyLifeResearch #ForexSignals #BestForexSignals Live Forex Signals

GBP/USD Weekly Forecast: GBP/USD, EUR/GBP Reversal

 BOND MARKET TANTRUM: Equity markets finally listen to the noise that the bond market has been making, however, the Fed is still not listening. Quite the move on as the US 10yr hit the milestone of yielding 1.50%, moving above the S&P 500 dividend yield of 1.48%. Subsequently, this places a TINA (There Is No Alternative) headwind for the stock market, which has up until now, enjoyed the low rate environment. The tech sector endured most of the selling pressure with the Nasdaq falling over 3%, particularly after the worst 7yr auction in history, which kickstarted a bid in the greenback and sent EM FX heavily lower.

STERLING EXPERIENCES RARE SELLING

As I’m sure many had noticed, the Pound’s valuation had become extremely stretched on the upside with the RSI on multiple GBP crosses trading significantly in overbought territory. That said, in response to the deleveraging in risk assets, the Pound had felt much of the brunt of this in G10s, but for context, GBP/USD is only back to levels that we were trading last week, and let’s not forget, the Pound has been the best performer in 2021. The supportive narrative remains the same for the Pound, as such, with GBP normalizing, dip buying is likely to re-emerge. On the technical front, GBP/USD remains in an uptrend with the pair holding above the 20 and 50DMAs.

EUR/GBP: Trend Remains Lower Despite Bounce Back

A sizeable bounce back in EUR/GBP over the last few sessions as positioning gets washed out. However, with the cross taken out of oversold conditions and the RSI remaining below 50, this may see traders reengage with fading the uptick. As such, risks remain for a move back towards 0.86 and 0.8540 below.

BOE INFLATION THREAT: Perhaps the most notable comments I have heard from a central banker in a while is from BoE’s Haldane. The BoE Chief Economist stated that says there is tangible risk inflation proves more difficult to tame, adding that he sees a sharper and more sustained rise in inflation than expected. However, it is important to note that Haldane is the most hawkish member of the MPC, which in turn puts focus on other MPC members as to whether they share the same concerns.

NEXT WEEK: Looking ahead to next week, there is very little on the domestic front, aside from the UK Budget. However, a point to make on the budget is that it is typically more important for UK stocks as opposed to FX, while much of the details of the budget tend to be released weeks before and thus nullifying the surprise element for markets. That said, on the economic calendar, the focus will be on the US data releases with ISM PMIs and NFP due out.

Indices Trading Signals

Nikkei 225 near lower by 1.89% at 27,663.39

There is a hint of risk aversion ahead of European trading as Asia views red for the most part on concerns regarding a retail trading frenzy as the chaos from the memes took over the market in trading yesterday and that is reflecting today.

Adding to that is talk of a liquidity squeeze in China with overnight repo rates rising to their highest level in almost six years not helping.

The PBOC did little to calm nerves as the ¥100 billion injections today is largely insufficient to deal with the liquidity shortage that may arise from the coming Lunar New Year holidays.

Elsewhere, the Hang Seng is down by 0.6% and Shanghai Composite down by 0.9%. Meanwhile, US futures are also being dumped with S&P 500 futures down 1.1%, and Nasdaq futures down 1.3% as we look towards European trading.

This is all contributing to a stronger dollar for the time with commodity currencies lagging slightly. But as we saw from yesterday, things can quickly turn around in the coming hours but just be wary that conditions may be trickier today amid the month-end.

Get more information on klse stock recommendation and malaysia stock picks seek expert from our website.