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Market Analysis 15-19 May 2023

XAUUSD Analysis   8 – 12 May 2023 The gold price outlook is generally positive in the medium term. Although the close of last week's sell pressure bar indicates a significant loss of buying momentum, due to the sell-off during the week but the price is still moving above the 2000 support level after a rebound to test and then rebound. It...

May 18, 2023
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GBPUSD analysis – Is the Bank of England approaching peak rates?

The Bank of England (BoE) is due to release its interest rate decision today, with markets expecting a 12th consecutive hike to take interest rates to 4.50%. There has been increasing speculation that the BoE is reaching its terminal rates and could follow the lead of the US FOMC and the ECB in signaling a slowdown or pause on further rate hikes fo...

May 11, 2023
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Market Analysis 8-12 May 2023

XAUUSD Analysis 8 – 12 May 2023 The gold price outlook is positive in the medium term. Although last week's closing of the buying pressure bar would indicate a loss of buying momentum due to the weekly selloff. But the price is still moving above the 2000 support, it is very likely that the price will continue to move above the 2000 level ...

May 9, 2023
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ECB hikes rates to 3.75%

Following the lead of the US Federal Reserve, the European Central Bank (ECB) announced its decision to hike rates by 25 basis points, taking interest rates in the Eurozone to 3.75% overnight. In the lead-up to the ECB meeting, there was some market speculation for a potential 50bps hike, which saw the EUR/USD trade to a 12-month high, reaching the...

May 5, 2023
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FOMC hikes rates but signals pause

In the most recent meeting, the US Federal Reserve hiked rates by 25 basis points, as anticipated, to take interest rates in the US to 5.25%, slightly beyond the terminal rate of 5.1%. However, the US Dollar Index (DXY) fell to the key support level of 100.80 which was last reached in April and February 2023, following the release of the rate hike ...

May 4, 2023
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Market Analysis 1-5 May 2023

XAUUSD Analysis   1 – 5 May 2023 The gold price outlook is positive in the medium term. Although last week's closing of the buying pressure bar would indicate a loss of buying momentum due to the weekly selloff. But the price is still moving in a narrow range above the 1960 support or the recent high on the Weekly timeframe. resistance 2...

May 3, 2023
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BoJ Governor Ueda’s first monetary policy meeting

The Bank of Japan is due to hold its first monetary policy meeting under new Governor Ueda on the 29th of April 2023. Since his appointment, Governor Ueda has frequently indicated that the BoJ will continue with its current easing stance on monetary policy with targets for long and short-term interest rates. Although headline and core inflation run...

April 28, 2023
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Inflation growth slows for the Australian Economy

The Australian Consumer Price Index (CPI) y/y was released at 6.3%, lower than the market forecast of 6.5% and from the previous data of 6.8%. With inflation growth on a clear downtrend following its peak of 8.4% in January 2023, this is likely to reduce the need for further rate increases from the Reserve Bank of Australia (RBA). The Australian...

April 26, 2023
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Market Analysis 24-28 April 2023

XAUUSD Analysis 24 – 28 April 2023 The gold price outlook is positive in the medium term. Although the close of last week's sell pressure bar indicates a loss of buying momentum. But the price is still above the 1960 support or the last high of the price in the Weekly time frame, which is very likely that the price will continue to swing o...

April 26, 2023
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Asian Session Update – AUD, NZD continue decline, Hot Japan CPI sees Yen strength

Major Asian stock indexes are following the lead from Wall St where US stocks finished broadly lower in a choppy, low volume session as economic news disappointed, Fed talking heads remained hawkish and a mixed batch of earnings. The ASX200 and Nikkei down around 0.24% while the Hang Seng down just over 0.5 a % FX Markets Have mostly c...

April 21, 2023
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Market Analysis 17-21 April 2023 – TH

XAUUSD Analysis   17 – 21 April 2023 The gold price outlook is positive in the medium term. As last week's closing of the buying bar was above the 1960 support or the latest high in price on the Weekly timeframe, it indicates the continued buying momentum that will allow the price of gold to continue. It can rise further to test the 2070...

April 18, 2023
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AUD and NZD under pressure on rising US and EU yield expectations

AUD and NZD, being cyclical currencies (cyclical currencies being ones that are extra sensitive to global risk sentiment) took a big hit in Fridays session , dropping 1.1% and 1.3% respectively against the USD and remain under pressure today. Weak retail sales out of the US on Friday didn’t help risk sentiment, but the rout really started when...

April 17, 2023
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GO Markets named as Compare Forex Brokers’ Best Liquidity Broker, Lowest Commission Forex Broker and Best Forex Broker in Singapore 2023

A 2023 Compare Forex Brokers’ comparison of the top global forex brokers named GO Markets as the top broker in multiple categories, including: Best Liquidity Broker 2023 Lowest Commission Forex Broker 2023 Best Singapore Forex Broker 2023 Justin Grossbard at Compare ForexBrokers said, “In our testing, GO Markets rated well w...

April 17, 2023
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USDCAD Analysis

On the 9th of March 2023, the Bank of Canada (BoC) released its monetary policy decision to keep rates at 4.50%. In the accompanying statement, the BoC indicated that it expected pressures in product and labour markets to ease as inflation growth signaled a slowdown. It also highlighted that while the BoC was assessing the impact of past interest r...

April 12, 2023
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Market Analysis 10-14 April 2023

XAUUSD Analysis 10 – 14 April 2023 The gold price outlook is positive in the medium term. As last week's closing of the buying bar was above the 1960 support or the latest high in price on the Weekly timeframe, it indicates continued buying momentum that will allow the price of gold to recover. It can rise further to test the 2070 resistan...

April 11, 2023
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