Commodities Analysis by Fawad Razaqzada covering: XAU/USD, XAG/USD, US Dollar Index Futures, Gold Futures. Read Fawad Razaqzada's latest article on Investing.com
Key US data and central bank decisions this week could impact the dollar and influence precious metals.prices fell further in early European trade, following their modest losses the week before. This morning’s losses coincided with thedata failed to reduce fears over"higher for longer" narrative on interest rates. Amid a lack of major fresh bullish catalysts, metals traders have been happy to book profits after what has been a strong year so far in the sector.
In recent weeks, we have seen bond yields rise, with investors growing increasingly worried about the possibility of interest rates staying elevated for a longer period. If that sentiment changes, say because of a run of below-forecast US data, then that is something that may provide metals renewed support again and undermine the US dollar.its first rate cut of the year.
The long trend remains bullish despite what trajectory the short-term price action takes, following that big break we saw a couple of months ago which ended 3 1/2 years of consolidative price action, and this was resolved with prices breaking higher. Therefore, even if prices were to weaken further, this would most likely be just a short-term pullback ahead of the resumption of the existing trend at a later point in time.
So, in summary, then, the path of least resistance on silver remains to the upside despite its recent struggles. Even if silver were to go below $30 on a daily closing basis, we could see a potential resumption of the bullish trend at a later point in time given the long-term bullish technical structure. But in that case, it just means that we will have to wait a little bit longer, requiring more patience on the bulls’ part.
XAG/USD US Dollar Index Futures Gold Futures
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Silver Ready to Rally to Mid-$30s: Here's How to Trade the Potential UptrendCommodities Analysis by Fawad Razaqzada covering: XAU/USD, XAG/USD, Gold Futures, Copper Futures. Read Fawad Razaqzada's latest article on Investing.com
Baca lebih lajut »
Gold: Pullback to Offer Dip-Buying Opportunities Near This Key LevelCommodities Analysis by Fawad Razaqzada covering: XAU/USD, US Dollar Index Futures, Gold Futures. Read Fawad Razaqzada's latest article on Investing.com
Baca lebih lajut »
GBP/USD Gears Up to Break Out of Long-Term Consolidation Ahead of BoE DecisionForex Analysis by Fawad Razaqzada covering: GBP/USD, US Dollar Index Futures. Read Fawad Razaqzada's latest article on Investing.com
Baca lebih lajut »
Gold Hit By Profit-Taking Ahead of Key Inflation Data - Should You Buy the Dip?Commodities Analysis by Fawad Razaqzada covering: XAU/USD, Gold Futures. Read Fawad Razaqzada's latest article on Investing.com
Baca lebih lajut »
US Dollar Softens Ahead of All-Important April CPI Report: Here's How to Trade ItForex Analysis by Fawad Razaqzada covering: US Dollar Index Futures, US Dollar Index. Read Fawad Razaqzada's latest article on Investing.com
Baca lebih lajut »
EUR/USD: Road to 1.10 in Motion Amid Greenback's Dwindling MomentumForex Analysis by Fawad Razaqzada covering: EUR/USD, Copper Futures, US Dollar Index. Read Fawad Razaqzada's latest article on Investing.com
Baca lebih lajut »