Gold Struggles Near Daily Low as US Dollar Strengthens on Fed Bets
Gold prices stayed under pressure during the first half of the European trading session on Tuesday staying below the key $4,580 resistance level after failing to hold earlier gains. A stronger US Dollar supported by rising geopolitical tensions and growing expectations of a hawkish stance from the US Federal Reserve (Fed) continued to weigh on […]
Canadian Dollar under stress as US Dollar Demand Remains Strong
The Canadian Dollar weakened on Tuesday as the US Dollar nonstop to attract safe-haven demand pushing USD/CAD higher near 1.3760, up 0.17% during the session. Despite stronger Oil prices the Canadian currency stumbled to gain support. West Texas Intermediate (WTI) Oil traded around $102.70, marking a 0.60% increase for the day. Since Canada is a […]
Gold Price Forecast: XAU/USD Stays Firm Above $4,700 as US Dollar Weakens
Gold prices remained steady above the $4,700 mark on Friday as the US Dollar nonstop to lose strength. The weaker Greenback helped support the valuable metal even as investors stayed cautious due to fresh tensions between the United States and Iran and doubt surrounding the fragile ceasefire situation in the Middle East. Gold is currently […]
US April Nonfarm Payrolls in Focus as Markets Eye Fed Rate Opinion
The United States Bureau of Labor Statistics is set to release the April Nonfarm Payrolls (NFP) report on Friday at 12:30 GMT with markets closely watching the data for fresh clues on the Federal Reserve next policy move. Economists expect the US economy to add around 62,000 jobs in April next the much stronger than […]