2023-09-07 09:35

Market Update - 07 September 2023 USD/JPY retraces from the yearly high amid the stronger Dollar. Japanese government is likely to implement new economic stimulus measures in October. Markets anticipate that the Federal Reserve (Fed) will hold rates above 5% for a longer period. Japanese Gross Domestic Product (GDP) for Q2 will be a closely watched event. (FXStreet) EUR/USD fades bounce off three-month low, renews intraday bottom of late. Divergence between Eurozone and US data joins stark difference of ECB vs. Fed talks to weigh on Euro pair. German Industrial Production, Final readings of EU Q2 GDP and mid-tier US employment data will decorate calendar. Fed talks will be in the spotlight as ECB policymakers’ ‘quiet’ period begins, US soft landing concerns gain acceptance. (FXStreet) AUD/USD reverses the previous day’s corrective bounce off yearly low despite lacking momentum of late. Six-month-old descending trend line challenges Aussie bears amid oversold RSI. Recovery remains elusive below 0.6460 resistance confluence; 0.6500 adds to the upside filters. (FXStreet) EUR/JPY remains on the back foot around intraday low while snapping three-day winning streak. German Industrial Production for July slides to -2.1% YoY versus -1.5% prior. Sluggish yields, ECB blackout join hawkish BoJ concerns to lure sellers. Eurozone Q2 GDP, risk catalysts eyed for clear directions. (FXStreet) EUR/GBP trades within a descending trend channel on the four-hour chart. The key resistance level is seen at 0.8600; the initial support level is located at 0.8563. Relative Strength Index (RSI) and MACD stand in bullish territory. (FXStreet) The index extends the march north and targets 105.00. Usual weekly Initial Claims next on tap in the docket. Fed’s Harker, Williams, Bostic and Bowman speak later. The USD Index (DXY), which tracks the greenback vs. a bundle of its main competitors, keeps the buying pressure well in place and approaches the 105.00 region on Thursday. (FXStreet) NZD/USD struggles to recover from its lowest since November 2022. Fed is expected to adopt a hawkish stance; contributing to the strength of the US Dollar (USD). Higher US Treasury yields reinforce the Greenback’s winning streak. China-related concerns are weighing on the Kiwi pair. (FXStreet) USD/CAD regains positive traction on Thursday and is supported by a bullish USD. The prospects for more Fed rate hikes and a softer risk tone benefit the Greenback. Retreating Oil prices undermines the Loonie and supports prospects for further gains. (FXStreet) USD/CHF bulls struggle to keep the reins at two-month high. Overbought RSI (14) line joins three-week-old ascending trend line to challenge buyers. Swiss Franc pair sellers need validation from 0.8780 support confluence, previous resistance line to retake control. (FXStreet) USD/MXN scales higher for the sixth straight day and touches a three-month high on Thursday. The recent breakout through the 100-day SMA and the 17.40-45 hurdle favour bullish traders. The slightly overbought RSI on the daily chart is seen as the only factor capping further gains. (FXStreet) WTI prices trade lower ahead of the EIA Crude Oil stockpiles report. API US crude oil inventories declined notably higher than expectations. Saudi Arabia's crude output will be closer to 9 million (bpd) through the year 2023. China’s gloomy economic situation could limit the upside potential of black gold. (FXStreet) Gold Price portrays corrective bounce at one-week low amid lackluster markets. Broad US Dollar strength, risk aversion prod XAU/USD rebound from key support confluence. Hawkish Fed talks, concerns about US economic strength keep Gold sellers hopeful of breaking immediate support. (FXStreet) Source: FXStreet Disclaimer: This information does not represent a BUY or SELL recommendation on the stock covered. Traders and Investors are encouraged to do their own analysis on stocks instead of blindly following any Trading calls raised by various parties on the Internet.

2023-09-06 09:10

Market Update - 06 September 2023 USD/CAD oscillates in a narrow trading band below the multi-month top set on Tuesday. Bullish Oil prices underpin the Loonie and cap the upside amid subdued USD price action. Traders now look forward to the BoC policy decision before placing fresh directional bets. (FXStreet) GBP/JPY loses momentum, snaps two-day winning streak on Wednesday. UK S&P Global/CIPS Composite PMI fell to 48.6 in August vs. 50.8 prior. Japanese policymakers will closely monitor FX movements with a sense of urgency. The attention will shift to Japan’s Gross Domestic Product (GDP) due on Friday. (FXStreet) EUR/USD struggles to extend corrective bounce off three-month low after downbeat German data. German Factory Orders dropped the most since early 2020s with -11.7% YoY figures. Eurozone recession fears contrast with US soft landing chatters to underpin bearish bias about the Euro pair. Eurozone Retail Sales for July, US ISM Services PMI for August eyed for clear directions. (FXStreet) USD/JPY treads waters below 147.50 ahead of the US PMI releases. Japan's currency diplomat Kanda indicated market intervention; underpins the Japanese Yen (JPY). The resurgence of trade tensions between the US and China weighed on the pair. (FXStreet) AUD/USD stages a modest recovery from the YTD trough, albeit lacks follow-through. A slightly better Australian GDP lends support to the pair amid subdued USD demand. China’s economic woes cap any meaningful gains ahead of the US ISM Services PMI. (FXStreet) The index faces some selling pressure following recent tops. US yields add to Tuesday’s upside across the curve. Investors’ attention is expected to be on the US services sector. The greenback appears somewhat offered around the 104.70 region when tracked by the USD Index (DXY) on Wednesday. (FXStreet) EUR/JPY cross attracts some dip-buying in reaction to hawkish remarks by ECB’s Knot. Intervention fears, along with the cautious mood, benefit the JPY and cap the upside. The divergent ECB-BoJ policy suggests that the path of least resistance is to the upside. (FXStreet) NZD/USD struggles to approach 0.5900 ahead of the US PMI releases. Fed is expected to increase another 25 basis points rate hike by the end of 2023. US-China trade tension exerts downward pressure on the New Zealand Dollar (NZD). (FXStreet) USD/TRY picks up bids to refresh two-week high, consolidating late August slump. US Dollar Index (DXY) retreats from multi-day high amid market’s preparations for this week’s US data. Concerns about US soft landing contrasts with economic fears surroudning Türkiye to favor Turkish Lira bears. US data, risk catalysts eyed for clear directions, CBRT gains less importance of late. (FXStreet) USD/MXN gains momentum for the fourth straight day, holds above the 50- and 100-day EMAs on the daily chart. Relative Strength Index (RSI) stands above 50 and MACD is located in bullish territory. The immediate resistance level is seen at 17.77; the first support level is located at 17.35. (FXStreet) USD/CHF trades sideways around 0.8890 ahead of the US PMI releases. Fed Governor Christopher Waller stated that the interest rates decision would be data-driven. US Commerce Secretary Gina Raimondo expects no revisions to the US tariffs on China. (FXStreet) USD/RUB loses momentum near 97.70 amid the rally in oil prices. Russia's economic growth will be towards the top end of the 1.5%-2.5% expected range in 2023. Investors anticipate a 25 basis point (bps) rate increase from the Fed for the entire year, bringing rates to 5.75%. US ISM Services PMI data will be in the spotlight on Wednesday. (FXStreet) Gold Price seesaws within key trading range despite the previous day’s heavy loss. Market’s consolidation amid China stimulus hopes, anxiety ahead of US data allow XAU/USD bears to take a breather. Fears of economic slowdown in Beijing contradict US soft landing chatters and weigh on the Gold Price. US ISM Services PMI, Fed talks eyed for fresh impulse. (FXStreet) Silver Price prints mild gains at two-week low after falling the most in a month. Oversold RSI (14) allows XAG/USD to prod five-day losing streak at multi-day bottom. Downbeat MACD signals, Bull Cross test Silver sellers amid sluggish markets. XAG/USD rebound remains elusive below $23.75, descending trend line from late July is a tough nut to crack for buyers. (FXStreet) Source: FXStreet Disclaimer: This information does not represent a BUY or SELL recommendation on the stock covered. Traders and Investors are encouraged to do their own analysis on stocks instead of blindly following any Trading calls raised by various parties on the Internet.

2023-09-05 09:22

Market Update - 05 September 2023 USD/RUB extends its upside above the 97.00 mark.The Russian Ruble extends its downside; Russia's budget is under pressure as a result of the Ukraine conflict. A mixed US employment data and upbeat manufacturing PMI decreases Fed tightening expectations. Investors await the US Factory Orders, the US ISM Services PMI.+ AUD/JPY trades lower around 94.20 amid RBA maintains interest rate at 4.10% (FXStreet) China’s disappointing Caixin Services PMI weighed on the Australian Dollar (AUD). Investors seek RBA’s statement for insights into future rate hikes, following Australia’s GDP. Japan's Household Spending data declined the most since February, 2021. (FXStreet) AUD/NZD remains pressured at one-week low despite RBA’s inaction, risk-positive China updates. RBA keeps benchmark rates unchanged at 4.1%, shows readiness for rate hikes to tame inflation. China’s Country Garden managed to avoid default by paying $22.5 million US bond coupons. Softer China PMI contrasts with Beijing’s efforts to defend economic recovery and prods pair sellers. (FXStreet) AUD/USD comes under fresh selling pressure and is weighed down by a combination of factors. The disappointing Chinese PMI and RBA's on-hold decision drive flows away from the Aussie. Bets for one more Fed rate hike in 2023 underpin the USD and contribute to the ongoing decline. (FXStreet) EUR/USD fades the week-start rebound from a multi-day-old rising support line. ECB talks appreciate recent data but push back policy pivot concerns, hawks lack market acceptance. Upbeat US NFP, Moody’s upward revision to growth forecasts join hawkish Fed talks to defend US Dollar bulls. Bears flex muscles as slew of catalysts stand ready to fuel market moves after US holiday (FXStreet) The index resumes the upside and revisits 104.30. US markets return to the activity following Monday holiday. Factory Orders will be in the limelight later in the NA session. The USD Index (DXY), which tracks the greenback vs. a bundle of its main rival currencies, manages to pick up some pace and reclaim the 104.30 region on Tuesday. (FXStreet) USD/CAD rallies to over a four-month top and draws support from a combination of factors. Retreating Crude Oil prices undermines the Loonie and acts as a tailwind amid a bullish USD. Technical buying above the 1.3600 mark also contributes to the strong positive momentum. (FXStreet) EUR/GBP picks up bids to reverse week-start losses. ECB policymakers flash mixed signals but push back rates cuts and help Euro to stay firmer. Mixed UK spending data, fears about British recession keeps pair buyers hopeful. Eurozone PPI, ECB’s Lagarde and UK PMIs will be important for fresh impulse. (FXStreet) USD/MXN gains traction for the fourth consecutive day on Tuesday. The immediate resistance level is located at the 17.30-17.35 region; the initial support is seen at the 17.00-17.05 zone. Relative Strength Index (RSI) stands above 50, within bullish territory. (FXStreet) NZD/USD trades lower around 0.5880 after China’s downbeat Caixin Services PMI. Moderate jobs data contribute to support the US Dollar (USD). Investors seem to accept the nearing end of the rate-hike cycle by the Fed. China’s Country Garden made delayed interest payments, avoiding an immediate default. (FXStreet) USD/TRY extends its consolidative price move and remains confined in a range. The technical setup supports prospects for some meaningful appreciating move. A break below the ascending trend-line support will negate the positive outlook. (FXStreet) USD/RUB extends its upside above the 97.00 mark. The Russian Ruble extends its downside; Russia's budget is under pressure as a result of the Ukraine conflict. A mixed US employment data and upbeat manufacturing PMI decreases Fed tightening expectations. Investors await the US Factory Orders, the US ISM Services PMI. (FXStreet) USD/INR trades sideways as China’s stimulus reinforces the positivity in the market. China’s Country Garden made an agreement with creditors for an extension, undermining the US Dollar (USD). Traders expect no interest rate hike in the September meeting by the Fed. (FXStreet) USD/CHF picks up bids to refresh intraday high, reverses the previous day’s pullback from one-week high. Softer Swiss GDP growth contrasts with upbeat US NFP, firmer yields to keep pair buyers hopeful. US Factory Orders, risk catalysts may entertain intraday traders. (FXStreet) WTI Crude oil trades lower due to the reduction in the Chinese services economy. Market optimism buoyed by China’s fiscal measures has strengthened oil prices. OPEC+ is expected to extend production cuts through the end of 2023. (FXStreet) Silver remains under heavy selling pressure for the fifth straight day on Tuesday. A sustained break below the 200-period SMA on the 4-hour chart favours bears. The oversold RSI on hourly charts makes it prudent to wait for some consolidation. (FXStreet) Source: FXStreet Disclaimer: This information does not represent a BUY or SELL recommendation on the stock covered. Traders and Investors are encouraged to do their own analysis on stocks instead of blindly following any Trading calls raised by various parties on the Internet.

2023-09-04 09:22

Market Update - 04 Sep 2023 NZD/USD regains positive traction on Monday and is supported by subdued USD price action. The upbeat market mood undermines the safe-haven buck and benefits the risk-sensitive Kiwi. Bets that the Fed will keep rates higher for longer help limit the USD losses and cap the major. (FXStreet) USD/JPY trades lower around 146.10, struggling to extend gains. MACD suggests that recent momentum is tepid as lies below the signal line. 147.00 psychological level emerges as the key resistance aligned to the previous week’s high. (FXStreet) AUD/JPY gains traction around 94.50 ahead of Australia’s key events. The Reserve Bank of Australia (RBA) is expected to keep its key interest rate unchanged at 4.10% on Tuesday. Japanese policymakers said that there is no indication of intervention in the market to shore up the weak yen. Investors will closely watch the RBA Interest Rate Decision, Gross Domestic Product (GDP) for Q2. (FXStreet) EUR/USD hovers around 1.0780 amid the thin trading volume due to the US holiday. European Central Bank (ECB) Governor Pierre Wunsch said it's too early to talk about ending hikes entirely. US Nonfarm Payrolls for August came in at 187K better than the estimation of 170K and July's reading of 157K. (FXStreet) USD/CAD oscillates in a narrow band below the 1.3600 mark on Monday. The technical setup favours bulls and supports prospects for further gains. A convincing break below the 200-day SMA will negate the positive bias. (FXStreet) The index meets some selling pressure near recent tops. US markets will be closed on Monday due to Labor Day holiday. Markets continue to digest Friday’s Payrolls (+187K). The USD Index (DXY), which gauges the greenback vs. its main rival competitors, faces some downside pressure around recent peaks near 104.30. (FXStreet) GBP/USD attracts some buyers above the 1.2600 mark in the early European session. US Nonfarm Payrolls (NFP) for August came in better the expected; Manufacturing PMI rose to 47.6 vs. 46.4 prior. UK S&P Global/CIPS Manufacturing PMI came in at 43.0 In August from 45.3 in July. Investors await the US ISM Services PMI for August for fresh impetus. (FXStreet) USD/CHF prints the first daily loss in three within one-month-old rising trend channel. Cautious mood ahead of Swiss Q2 GDP, US Labor Day holiday allows traders to pare recent moves. Buyers remains hopeful unless breaking 0.8700; June’s low acts as additional upside filter. (FXStreet) EUR/SEK extends its upside around 11.8875 for the four straight days. The cross trades within the ascending trend-channel on the four-hour chart; the RSI stands in bullish territory above 50. The initial support level is located at 11.8650; a high of September 1 at 11.9240 acts as an immediate resistance level. (FXStreet) AUD/USD consolidates above 0.6450 after the US mixed employment data. Investors turn cautious on the expected 25 bps rate hike by the Fed, following the moderate employment figures. Aussie traders anticipate that the RBA will extend the rate pause for a second successive month. (FXStreet) USD/RUB trades with modest gains around 96.40 amid the Russian Ruble weakness. Russia's Manufacturing PMI for August came in better than expected; the Unemployment Rate declined to 3.0% from 3.1%. US Nonfarm Payrolls for August were better than estimated. (FXStreet) USD/INR snaps two-day losing streak amid sluggish Asian session. China’s Xi advocates opening of services industry, appoints special cell to promote private economy. US-China tension, US Labor Day Holiday prods market sentiment and Indian Rupee moves. (FXStreet) EUR/JPY attracts fresh buyers on the first day of a new week and snaps a two-day losing streak. The BoJ’s dovish stance, along with a positive risk tone, undermines the JPY and lends support. Expectations that the ECB will pause its rate-hiking cycle hold back bulls from placing fresh bets. (FXStreet) Gold price regains positive traction and remains within the striking distance of a one-month top. Expectations that the Federal Reserve is down with its rate-hiking cycle underpin the XAU/USD. A positive risk tone might hold back bulls from placing aggressive bets and cap any further gains. (FXStreet) Silver edges lower for the fourth successive day and touches a one-week low on Monday. The mixed oscillators on hourly/daily charts warrant caution before placing directional bets. A sustained move beyond the $25.00 mark will be seen as a fresh trigger for bullish traders. (FXStreet) Source: FXStreet Disclaimer: This information does not represent a BUY or SELL recommendation on the stock covered. Traders and Investors are encouraged to do their own analysis on stocks instead of blindly following any Trading calls raised by various parties on the Internet

2023-09-01 09:40

Market Update - 01 Sep 2023 USD/CHF struggles to extend the previous day’s strong gains ahead of top-tier Swiss, US data. Upbeat MACD signals, sustained trading beyond the key DMA convergence keeps Swiss Franc pair buyers hopeful. Six-month-old falling resistance line holds the key to pair’s further advances. (FXStreet) USD/CAD lacks clear directions at the lowest levels in two weeks, prods four-day losing streak. Oil price cheers China-inspired optimism, supply-crunch woes to refresh three-week high above $83.00. Upbeat US inflation, activity data prod previous concerns about Fed policy pivot, highlighting US employment figures. Canada Q2 and monthly GDP figures will also provide fresh impulse to Loonie pair. (FXStreet) AUD/USD consolidates the first weekly gain in seven within fortnight-long bullish channel. Pre-NFP positioning allows Aussie buyers to take a breather. 100-SMA restricts immediate downside ahead of channel’s bottom line, resistance-turned-support trend line. Bulls should remain cautious below 1.5-month-old descending resistance line. (FXStreet) GBP/USD experienced losses due to US moderate economic data. Investors turn cautious around BoE’s policy decision and the UK’s gloomy economic situation. UK’s FCA stated that British savings account holders can take advantage of higher interest rates. (FXStreet) The index trades without direction around 103.60. US yields appear side-lined around recent levels. Investors’ focus remains on the US NFP, ISM gauge. The USD Index (DXY), which tracks the greenback vs. a bundle of its main rival currencies, trades within a narrow range around 103.60 at the end of the week. (FXStreet) USD/JPY is experiencing losses due to China’s fiscal measure and upbeat PMI. PBoC reduced FX RRR to 4% to slow down the weakening pace of the Chinese Yuan. Greenback retreats from the recent gains ahead of the US economic data. (FXStreet) EUR/USD holds lower grounds after falling the most in five weeks the previous day. Eurozone inflation halved in the last four months versus January-April period. US Core PCE Price Index appears positive but lacks details to ensure Fed rate hikes. Firmer US employment data eyed to defend higher rates and can weigh on Euro price. (FXStreet) GBP/JPY remains depressed for the second straight day, albeit lacks follow-through selling. A modest pickup in demand for the safe-haven JPY exerts downward pressure on the cross. The BoJ-BoE policy divergence warrants caution before positioning for any further losses. (FXStreet) NZD/USD lacks any firm direction on Friday and seesaws between tepid gains/minor losses. A positive risk tone and the upbeat Chinese PMI lend some support to the risk-sensitive Kiwi. The uncertain Fed rate-hike path caps the USD and also contributes to limiting the downside. Traders keenly await the release of the crucial US NFP report before placing aggressive bets. (FXStreet) EUR/GBP snaps two-day losing streak due to upbeat Eurozone inflation. Eurozone headline inflation rose by 0.6% against the expectations of 0.1% decline. Sterling Pound traders seek more cues on BoE's policy decision amid the UK's challenging economic conditions. (FXStreet) WTI prices gain traction for four straight days above $83.20 a barrel. Russian authorities agreed to cut oil production and will reveal the new parameters next week. Higher WTI prices are also bolstered by the big draw in US crude oil inventories. Oil traders will monitor the Chinese Caixin Manufacturing PMI, US Nonfarm Payrolls. (FXStreet) Natural Gas Price seesaws at three-week high, lacks momentum of late. Sluggish oscillators, pre-NFP trading lull prod XNG/USD traders at multi-day high. Convergence of 200-DMA, six-month-old resistance line appears a tough nut to crack for Natural Gas buyers. XNG/USD sellers need confirmation of 15-week-old rising wedge. (FXStreet) Thursday’s small downtick in gold prices came in tandem with shrinking open interest and volume, which removes strength from a sustained pullback and exposes the resumption of the prevailing bullish trend. Next on the upside for the precious metal emerges the provisional 100-day SMA at $1954 per troy ounce. (FXStreet) A decision on spot Bitcoin ETFs is pushed back to mid-October by the SEC. Bitcoin gives back all of this week’s bullish run-up. (DailyFX) Source: FXStreet Disclaimer: This information does not represent a BUY or SELL recommendation on the stock covered. Traders and Investors are encouraged to do their own analysis on stocks instead of blindly following any Trading calls raised by various parties on the Internet.

2023-08-30 09:46

Market Update - 30 Aug 2023 AUD/USD trades lower on disappointing Australia’s inflation. Australian CPI declined to a 17-month low; investors expect no interest rate hike by the RBA. US Dollar (USD) weakened due to dovish sentiment surrounding the Fed policy decision. (FXStreet) GBP/USD trades lower due to the improvement in US bond yields. US Dollar (USD) treads water to recover two-day losses. Investors await US economic data, seeking further clues on the Fed’s policy decision. (FXStreet) The index bounces off recent lows and regains 103.70. US yields attempt a mild rebound across the curve. Flash Q2 GDP Growth Rate, ADP report take centre stage. The greenback manages to regain the smile and advances to the 103.70 region when tracked by the USD Index (DXY) on Wednesday. (FXStreet) USD/CAD picks up bids to pare the biggest daily loss in a month. Oil price cheers surprise inventory draw, expectations of China stimulus. US Dollar dropped heavily after downbeat data renewed Fed policy concerns before the latest consolidation. Clues about US employment, inflation and growth numbers eyed for clear directions of the Loonie pair. (FXStreet) USD/JPY trades higher around 146.20, retracing from recent losses. The monthly high could be the immediate resistance, following November’s high. 23.6% Fibo appears to be the key support aligned to 21-day EMA. (FXStreet) USD/CHF rebounds due to downbeat Swiss economic data. Investors will monitor Switzerland’s inflation data, seeking further cues on interest rate hikes by SNB. Market participants await US economic data to gain a clearer insight into the Fed policy decision. (FXStreet) EUR/USD pares the biggest daily gains in seven weeks with mild losses. Portrays consolidation ahead of German inflation clues, US employment, growth data. 100-SMA, 1.5-month-long descending resistance line together challenge Euro buyers. Pullback remains elusive beyond ascending trend line from late May. (FXStreet) GBP/JPY picks up bids to reverse the previous day’s retreat from weekly top. Three-week-old ascending support line puts a floor under the prices. 50-SMA, multiple hurdles since mid-August restrict immediate upside. Corrective bounce in yields adds strength to the GBP/JPY rebound but mixed sentiment prods bulls. (FXStreet) GBP/USD trades lower due to the improvement in US bond yields. US Dollar (USD) treads water to recover two-day losses. Investors await US economic data, seeking further clues on the Fed’s policy decision. (FXStreet) EUR/GBP oscillates in a tight trading band around 0.8604 on Wednesday. The softer Eurozone data might convince the European Central Bank (ECB) to pause interest rates in its next meeting. Markets anticipate the odds of a rate hike by the Bank of England (BoE) in its September. (FXStreet) AUD/JPY takes offers to refresh intraday low, snaps three-day uptrend while reversing from two-week high. Australia Monthly CPI, Building Permits for July push back RBA hawks. Sluggish oscillators join U-turn from key technical hurdles and hawkish BoJ bias to tease sellers. (FXStreet) NZD/USD pares the biggest daily gains in six weeks within fortnight-old descending trend channel. Disappointing prints of New Zealand Building Permits for July recall Kiwi bears after two-day absence. Previous resistance line from late July lures Kiwi sellers but bullish MACD signals keep buyers hopeful. Key SMAs, bearish chart formation challenge bulls ahead of top-tier US data. (FXStreet) WTI crude oil extends the previous day’s recover to refresh multi-day top despite corrective bounce in US Dollar. Expectations of more energy demand due to adverse weather conditions, hurricane Idalia join China stimulus hopes to favor bulls. API Weekly Crude Oil Stocks Change marked the biggest draw since early September 2016. Risk catalysts, US data about inflation, employment and growth eyed for clear directions. (FXStreet) Natural Gas Price edges higher at two-week top, prints five-day winning streak. US Dollar consolidates the biggest daily fall in six weeks amid market’s preparations for US data. Hopes of more energy demand due to adverse weather conditions and China stimulus hopes favor XNG/USD buyers. Risk catalysts, US data for clear directions as bulls keep the reins. (FXStreet) Gold consolidates its recent gain above $1,930 amid the USD weakness. Gold prices may benefit from the renewed tension between the US and China. Market anticipated the odds for additional rate hikes by the Federal Reserve (Fed). Traders will closely watch the US ADP private employment, US Gross Domestic Product (GDP) data due on Wednesday. (FXStreet) Silver Price struggles with the key upside hurdle at monthly high. Descending resistance line from early May challenges XAG/USD bulls amid nearly overbought RSI (14) line. Clear upside break of four-month-old horizontal resistance area, bullish MACD signals favor Silver buyers. 100-DMA, key Fibonacci retracement levels can prod XAG/USD pullback. (FXStreet) BTC/USD soars and breaks above its 200-day simple moving average, boosted by Grayscale’s legal victory. The SEC’s defeat in the U.S. court system may have positive implications for cryptocurrencies. (DailyFX) Source: FXStreet Disclaimer: This information does not represent a BUY or SELL recommendation on the stock covered. Traders and Investors are encouraged to do their own analysis on stocks instead of blindly following any Trading calls raised by various parties on the Internet.