US Dollar takes yet again another hit with ECB's hawkish rate cut and revises 2025 inflation forecast to the upside – FXStreet
The US dollar remains stuck in the backfoot and cannot recover against its main ally. ECB Lagarde supports the concern by saying that the ECB must be vigilant and prompt to act in any circumstances. The US dollar index has already lost more than 3% of its previous value this week. The US Dollar Index […]
Gold Price Forecast: Rebounds but Bearish Retracement May Resume Below $2,894 – FX Empire
Bounce to test pre-support as a resistor Following last week's new record high of $2,956, gold fell below the previous week's weekly low, causing an upward trend line and a breakdown of 20-day MA. Then last Friday we saw support at a pullback low of $2,833. The next rally was a three-day advance to Wednesday's […]
Gold (XAU) Silver (XAG) Daily Forecast: U.S. Tariffs and Market Volatility Impact Precious Metals – FX Empire
The US Dollar Index (DXY) rose to 104.20, rising to the highest level in two weeks, putting pressure on priced goods. Meanwhile, the US's 10-year financial yield rose to 4.35%, further reducing the appeal of gold. Despite market volatility, silver is stable Unlike gold, Silver (XAG/USD) showed resilience, trading at $31.68 with a daily high […]
Silver Price Forecast: Reverses Higher for Bullish Outlook – FX Empire
Bullhammer inversion triggered Nevertheless, bullish reversals are triggered from the main support level and sets stages for further strengthening. Friday's lowest was $30.81, establishing a higher and lower swing at the identified support levels. And the third trend line was featured at a price level similar to the 50-day MA. These are signs of bullishness […]
Gold (XAU) Price Forecast: Bearish Reversal in Play as Traders Eye $2746.58 Target – FX Empire
Does the Fed's inflationary erode the appeal of gold? The Federal Reserve is the dominant force in gold price action, with traders closely tracking their response to inflation data. The Fed's preferred inflation gauge, the Personal Consumption Expense (PCE) Index, rose 0.3% in January, collaborating with expectations. Core PCE, which removes volatile foods and energy […]
Gold Price Forecast: Drops to $2,833, Confirming Bearish Reversal Signals – FX Empire
Sales pressure is growing The next lower target is a $2,813 38.2% Fibonacci retracement, but the bear determinism will likely lead to lower-cost testing. The previous trend at $2,790 is an obvious target, but price levels can break if sales pressure is held. Low price levels are identified by at least two metrics as possible […]
Gold Price Forecast: Bearish Reversal Triggered as Sellers Take Control – FX Empire
The next lower target is $2,813 The next downside is the three-week low of $2,813. However, given today's bearish momentum and decline, three-week lows could also fail as support if they fall below the main price level. Furthermore, below is the lowest expected 38.2% Fibonacci retracement at $2,813, which could indicate signs of support. Nevertheless, […]
Gold (XAU) Silver (XAG) Daily Forecast: Prelim GDP q/q and Jobless Claims Set Market Tone – FX Empire
Investors are currently keenly waiting for Friday's US Personal Consumption Expense (PCE) Price Index Report. This provides clues on inflation and affects the Federal Reserve's attitude towards interest rates. If the data shows cooling inflation, it could promote expectations for interest rate reductions and raise gold prices. Until then, gold could be traded within tough […]
Nvidia revenue jumps 78%, gives bullish forecast despite DeepSeek AI fears
Nvidia forecasts first quarter revenues ahead of the market on Wednesday, and expects robust demand for its major AI chips to last as businesses spend a lot of money to expand their generative artificial intelligence infrastructure. The shares rose about 1% in choppy extended trading after closing 3.7% in regular trading. Nvidia is the largest […]
Gold (XAU) Silver (XAG) Daily Forecast: Will Inflation Fears Drive Safe-Haven Demand? – FX Empire
In addition to market uncertainty, U.S. consumer confidence fell sharply from 105.3 to 105.3 in February, marking the sharpest decline since August 2021, according to the conference committee. This decline reflects a growing caution among American consumers, which could weaken economic growth and increase the demand for safe inventory assets like gold. Traders are also […]