Market News & Analysis
Breaking currency news, central bank coverage, and technical setups from the MarketMindFX desk.
Gold Extends Rally as XAU/USD Nears Key Resistance, RSI Signals Overbought Conditions
Gold remains firmly bullish near its highest levels since mid-May as lower US Treasury yields and reduced expectations of an imminent Federal Reserve rate hike support demand. XAU/USD is approaching key resistance near $4,773, although an overbought RSI increases the risk of a short-term pullback.
US Dollar Faces Downside Risks as Policy Events Drive Market Sentiment
The US Dollar starts the week broadly stable, but MUFG sees downside risks as investors focus on Treasury measures, fiscal policy, Iran-related developments and Fed Chair Warsh's Jackson Hole remarks.
EUR/JPY Holds Steady as Markets Price in ECB and BoJ Rate Hikes
EUR/JPY remains near 185.70 as traders balance rising expectations for interest rate hikes from both the European Central Bank and the Bank of Japan. Stronger Japanese inflation is supporting the Yen, while expectations of tighter ECB policy continue to underpin the Euro.