The price of XAU/USD is currently experiencing bearish momentum, indicating that it may potentially move towards the 1st support level. The overall momentum of the chart is bearish.
Category: Market Analysis
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IC Markets Asia Fundamental Forecast | 30 March 2023
IC Markets Asia Fundamental Forecast | 30 March 2023 What happened in the US session? The US Pending Home Sales m/m data release indicates a positive change of 0.8% (forecast -2.9%, previous 8.1%) in the number of homes under contract for sale in the last month, suggesting an improvement amid the slowdown of the housing … Continue reading IC Markets Asia Fundamental Forecast | 30 March 2023
IC Markets Europe Fundamental Forecast | 29 March 2023
IC Markets Europe Fundamental Forecast | 29 March 2023 What happened in the Asia session? The Australian CPI y/y registered at 6.8% (forecast 7.2%, previous 7.4%), the second drop in consumer prices on record. This development should allow the RBA to justify pausing the rate hike cycle that has adversely affected the local economy. What … Continue reading IC Markets Europe Fundamental Forecast | 29 March 2023
Wednesday 29th March 2023:Alibaba’s split plan boosts Asian markets; dollar slips
Global Markets: News & Data: Markets Update: Asian shares rose sharply on Wednesday as easing concerns over the banking sector revived risk appetite, while Alibaba’s stock soared on the internet behemoth’s plans to split into six units. The move is expected to unlock shareholder value and foster market competitiveness, according to a company statement. The … Continue reading Wednesday 29th March 2023:Alibaba’s split plan boosts Asian markets; dollar slips
Wednesday 29th March 2023: Technical Outlook and Review
Gold prices have been exhibiting bullish momentum, supported by the fact that price is currently above the bullish Ichimoku cloud. In the near term, prices could potentially continue to rise towards the first resistance level.