2023-07-26 09:38

Market Update - 26 July 2023 EUR/USD remains sidelined at two-week low, prods six-day downtrend. Downbeat Eurozone, German statistics challenge ECB hawks and favor Euro sellers amid welcome United States data. Concerns about Federal Reserve’s priced-in 0.25% rate hike, inability to fuel interest rates further prod pair bears. Risk catalysts, Treasury bond yields eyed for clear directions ahead of Fed showdown. (FXStreet) USD/JPY turns lower for the third straight day and is pressured by modest USD weakness. The fundamental backdrop warrants some caution before positioning for additional losses. Traders might also refrain from placing aggressive bets ahead of the FOMC policy decision. (FXStreet) GBP/USD remains confined in a narrow range near the 1.2900 area heading into the European session. Economists anticipate a rate hike by the Bank of England (BoE) to 5.25% in the next meeting. Investors will watch the Federal Open Market Committee's (FOMC) meeting and the press conference. (FXStreet) AUD/USD recovers some losses and holds above 0.6765. The key resistance level is located at 0.6800; the strong support level is seen at 0.6700. The Relative Strength Index (RSI) hovers around 50, indicating the non-directional movement of the pair. (FXStreet) USD/CAD reverses from intraday high on softer US Dollar ahead of Federal Reserve Interest Rate Decision. Oil price prints the first daily loss in five amid mixed sentiment, receding optimism about China stimulus. Cautious markets, light calendar will restrict Loonie pair’s immediate moves ahead of FOMC. Fed Chair Powell’s speech will be crucial as 0.25% rate hike is priced in. (FXStreet) The index loses further momentum and approaches 101.00. The Fed is anticipated to hike rates by 25 bps later on Wednesday. Markets’ attention remains on Powell’s upcoming comments. The greenback, in terms of the USD Index (DXY), remains offered and trades close to the 101.00 region on Wednesday. (FXStreet) USD/CHF drifts lower for the second straight day and is pressured by modest USD weakness. The risk-on mood could undermine the safe-haven CHF and help limit any further downside. Traders might also refrain from placing aggressive bets ahead of the crucial FOMC decision. (FXStreet) GBP/JPY struggles to defend the previous day’s gains amid sluggish session. Treasury bond yields remain sidelined amid mixed concerns about Japan economic forecasts, Bank of Japan. Intact UK growth forecasts, hawkish BoE concerns put a floor under cross-currency pair. Risk catalysts eyed for clear directions amid light calendar. (FXStreet) EUR/GBP remains sideways below 0.8600 ahead of ECB’s policy decision. The uncertainty about ECB’s guidance for September’s monetary policy is building pressure on the Euro. Investors are interested to know whether UK PM Rishi Sunak would meet his promise of easing inflation to 5% by the year-end. (FXStreet) EUR/JPY remains sidelined during the first profit-making day in three. Yields benefit from sour sentiment ahead of key central bank announcement, China news. Disappointing Euro data, IMF’s suggestion to BoJ prod pair buyers. Risk catalysts eyed for clear directions ahead of ECB, BoJ monetary policy decisions. (FXStreet) AUD/NZD takes offers to refresh intraday low after downbeat Australia inflation. Australia’s headline CPI, RBA Trimmed Mean CPI and Monthly CPI all print softer figures in the latest readings. 200-SMA, one-week-old rising support line test sellers despite bearish MACD signals. Bulls need clear break of 1.0945 to retake control. (FXStreet) NZD/USD attracts dip-buying on Wednesday and draws support from modest USD weakness. Hopes for more stimulus from China also benefit antipodean currencies, including the Kiwi. The fundamental backdrop favours bulls, though traders might wait for the FOMC decision. (FXStreet) WTI prints the first daily loss in five, reversing from three-month high. Bearish chart formation, impending bear cross on MACD and overbought RSI lures Oil sellers. Downside break of immediate support triggers commodity’s weakness towards mid-July top. 50-EMA adds strength to wedge’s support line, highlights $76.70 as the key level for energy bears. (FXStreet) Tuesday’s uptick in prices of natural gas was on the back of shrinking open interest, which hints at the idea of a corrective move in the very near term. Looking at the broader picture, prices of natural gas seem to have embarked on a gradual recovery since early April. Against that, the next target now emerges at the weekly high near $2.80 per MMBtu seen on July 20. (FXStreet) Gold price runs north swiftly as investors seem clear that a small interest-rate hike from the Fed cannot be ruled out. The US Dollar Index is under pressure as Fed’s July rate hike could be the last one in the current tightening spell. US GDP numbers are due Thursday, keeping FX in action. (FXStreet) Silver edges higher during the Asian session, though the downside remains cushioned. Traders now seem reluctant to place aggressive bets ahead of the key FOMC decision. The mixed technical setup further warrants some caution before placing directional bets. (FXStreet) Source: FXStreet, DailyFX 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.

2023-07-25 09:52

Market Update - 25 July 2023 USD/CHF edges lower on Tuesday and is pressured by a modest USD downtick. A positive risk tone could undermine the safe-haven CHF and help limit losses. Traders might also prefer to wait for the crucial FOMC decision on Wednesday. (FXStreet) USD/CAD oscillates in a narrow trading band through the early European session on Tuesday. A modest pullback in Oil prices undermines the Loonie and lends some support to the major. A positive risk tone prompts selling around the safe-haven USD and caps the upside for the pair. Traders now look to US macro data for some impetus, though the focus remains on the FOMC. (FXStreet) AUD/USD gains strong positive traction in the wake of hopes for more stimulus from China. A positive risk tone prompts selling around the USD and benefits the risk-sensitive Aussie. Traders look to US macro data for some impetus ahead of the Australian CPI on Wednesday. The focus remains on the outcome of the highly-anticipated FOMC monetary policy meeting. (FXStreet) GBP/USD struggles to gain and remains on the defensive around the 1.2840 mark on Tuesday. S&P Global Composite PMI showed that US business activity slowed to a five-month low in July. The preliminary UK PMI data revealed that economic activity in July was weaker than expected. Market participants will keep an eye on the Federal Open Market Committee (FOMC) meeting. (FXStreet) The index now faces some tepid selling pressure near 101.40. The Fed starts its 2-day meeting later on Tuesday. CB Consumer Confidence, housing data will be next on tap. The greenback, in terms of the USD Index (DXY), faces some selling pressure after hitting new multi-session peaks in the 101.40/45 band on turnaround Tuesday. (FXStreet) USD/JPY consolidates in a tight range above 141.45 on Tuesday. Market anticipated that the Federal Reserve (Fed) would hike rates by 25 basis points (bps) to 5.25–5.50%. Japanese policymakers are expected to maintain a dovish policy stance. Market participants will keep an eye on the FOMC meeting and BoJ meeting later this week. (FXStreet) EUR/USD struggles to defend the first daily gains in five at the lowest level in two weeks. China-inspired risk-on mood, mixed concerns about Fed prod US Dollar bulls at multi-day high. Euro bulls appear defensive as disappointing PMIs from Eurozone, Germany flag recession fears and push back ECB hawks. German IFO sentiment data, US CB Consumer Confidence can entertain EUR/USD traders but ECB vs. Fed drama is the key. (FXStreet) EUR/GBP drifts lower for the second straight day and drops to a nearly one-week low. Euro Zone’s economic woes undermine the Euro and continue to weigh on the cross. Bets for less aggressive BoE rate hikes could limit losses ahead of the ECB on Thursday. (FXStreet) GBP/JPY clings to mild gains, reverses week-start retreat from the highest level in two weeks. China stimulus expectations join concerns about major central banks’ proximity to policy pivot to fuel market optimism. Benchmark US 10-year Treasury bond yields renew two-week high but two-year counterpart retreats. Risk catalysts will direct intraday moves but BoJ announcements are key for clear view. (FXStreet) USD/MXN struggles to find a decisive move as investors shift focus toward Fed’s policy. The trigger that could turn investors anxious is the interest rate guidance from Jerome Powell. Semi-annual inflationary pressures in Mexico increased at a higher momentum in July. (FXStreet) NZD/USD defends the previous day’s corrective bounce off 12-day-low amid China-inspired risk-on mood. Sustained break of 200-EMA, upbeat RSI keeps Kiwi buyers hopeful. One-week-old descending trend line guards immediate upside ahead of 100-EMA, 50% Fibonacci retracement’s convergence. Multiple supports, pre-Fed positioning will challenge Kiwi pair sellers. (FXStreet) Prices of WTI rose to fresh highs past the $79.00 yardstick at the beginning of the week. The positive price action was accompanied by rising open interest and volume and exposes the probable continuation of the upside momentum in the very near term. Against that, the immediate hurdle still emerges at the key $80.00 mark per barrel. (FXStreet) Monday’s second daily pullback in prices of natural gas was on the back of diminishing open interest and volume, hinting at the probability that a near-term rebound could be in the offing. Against that, the next target for the commodity is expected at the June tops near the $2.90 mark per MMBtu (June 28). (FXStreet) Gold price trades sideways as investors await Fed policy announcement for further guidance. Fears of a recession in the US economy trim amid a tight labor market and softening inflation. The US Dollar Index’s upside looks restricted as investors have digested July’s interest-rate hike. (FXStreet) Silver price gains traction and holds above $24.55 on Tuesday. XAG/USD holds below the 50- and 100-hour EMAs with a downward slope. Immediate resistance is seen at the $24.60-$24.65 zone; $24.30 acts as an initial support level. (FXStreet) Source: FXStreet, DailyFX 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.

2023-07-24 09:33

Market Update - 24 July 2023 EUR/USD stays defensive at the lowest levels in eight days after snapping three-week uptrend. Three-month-old horizontal support zone challenges Euro sellers as MACD signals suggest easing bearish bias. Immediate descending trend line, 50-SMA restricts EUR/USD recovery before the multi-month high marked the last week. A slew of technical levels stand tall to challenge Euro bears beyond 1.0920 level. (FXStreet) USD/JPY consolidates its recent gains above the 141.50 mark heading into the European session. The critical resistance zone is located at 141.95–142.00; 140.85 acts as an immediate support level. The Relative Strength Index (RSI) stands above 50, indicating bullish territory. (FXStreet) GBP/USD meets with a fresh supply on Monday and drifts lower through the early European session. The disappointing UK PMIs reaffirm bets for a less aggressive BoE and weigh on the British Pound. The downside seems limited as the focus remains glued to the crucial BoJ policy decision on Friday. (FXStreet) AUD/USD has gauged temporary support near 0.6720 amid a cautious market mood. The Fed is expected to resume its rate-hike cycle after a skip in June. The RBA could borrow some more time for pausing the policy-tightening cycle if second-quarter inflation softens significantly. (FXStreet) The index extends its upside momentum above 101.00. Softer-than-expected PMIs hurt the euro on Monday. Flash PMIs, Chicago Fed National Activity Index next on tap. The greenback, in terms of the USD Index (DXY), extends the recovery further north of 101.00 the figure at the beginning of the week. (FXStreet) USD/CAD remains confined in a narrow trading band around 1.3220. USD/CAD holds above the 50- and 100-hour EMAs, which means further upside looks favorable. The pair will meet the immediate resistance level of 1.3230; 1.3200 is a critical support level. (FXStreet) USD/CHF grinds near intraday high, reverses Friday’s U-turn from one-week high. CFTC data suggests bearish US Dollar bets jump to record high. US statistics flag fears of Fed policy pivot despite lifting greenback from 15-month low in the last week. First readings of US S&P Global PMIs for July will direct intraday moves, Fed announcements, US Q2 GDP are crucial. (FXStreet) GBP/JPY lacks a firm intraday direction and oscillates in a range during the Asian session. Reports that the BoJ will stick to its dovish stance weigh on the JPY and lend some support. Reduced bets for more aggressive BoE rate hikes cap any meaningful upside for the cross. (FXStreet) NZD/USD struggles to defend the corrective bounce off two-week low. Key support line break, sustained trading below 200-SMA favor Kiwi pair sellers to aim for two-month-old rising trend line. Oversold RSI provides headwind to immediate declines but bearish MACD signals join technical breakdowns to favour bears. (FXStreet) EUR/GBP meets with heavy supply in reaction to the dismal Euro Zone PMI prints for July. The weaker data eases pressure on the ECB to hike rates further and weighs on the Euro. Diminishing odds for a more aggressive BoE cap gains for the GBP and could limit losses. (FXStreet) EUR/JPY meets with some supply on Monday and is pressured by a modest JPY strength. The occurrence of a negative RSI divergence on the daily chart prompts technical selling. Bulls need to wait for a sustained strength above the 158.00 mark before placing fresh bets. (FXStreet) WTI prices kept the optimism well in place in the second half of last week. Friday’s gains were on the back of rising open interest and leave the door open to further upside in the very near term. Against that, the immediate target remains at the July peaks past the $77.00 mark per barrel for the time being. (FXStreet) Natural Gas holds lower ground near intraday bottom after reversing from two-week high. Bearish moving average crossover, downbeat oscillators favor XNG/USD sellers. Natural Gas recovery appears elusive below $2.80; $2.62 appears a tough nut to crack for sellers. (FXStreet) Gold prices dropped for the third session in a row at the end of last week. The continuation of the weekly decline was on the back of shrinking open interest and volume, which removes strength from further losses in the very near term. In the meantime, there is still decent contention around the weekly at $1945 per troy ounce (July 17). (FXStreet) Silver finds support near mid-$24.00s and reverses an intraday dip to over a one-week low. The mixed oscillators on daily/hourly charts warrant caution for aggressive bullish traders. A convincing break below the 200-day SMA is needed to negate the near-term positive bias. (FXStreet) Source: FXStreet, DailyFX 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.

2023-07-21 09:50

EUR/JPY rallies near 80 pips to test 158.00 in the European session. BoJ is reportedly said to leave policy settings unchanged next week. The US Dollar recovers ground, tracking the upsurge in the USD/JPY pair. (FXStreet) GBP/JPY rallies hard to a nearly two-week high amid aggressive selling around the JPY. Reports indicate that the BoJ will stick to its dovish stance and weigh heavily on the JPY. The upbeat UK Retail Sales contribute to the British Pound’s relative outperformance. (FXStreet) USD/JPY jumps to near 142.00 as the US Dollar rallies amid a cautious market mood. Fed-BoJ policy divergence is expected to widen further as the BoJ is expected to continue its dovish stance. Japan’s inflation is accelerating more than expected but the key is whether the increase is sustainable. (FXStreet) Euro trades close to weekly lows near 1.1130 against the US Dollar. Stocks in Europe open mixed in Friday’s session. EUR/USD risks further decline in the short-term horizon. US, Eurozone economic calendars are empty at the end of the week. (FXStreet) The index appears slightly offered around 100.70. US yields trade with small losses in the European morning. Investors’ focus remains on the upcoming FOMC event. The USD Index (DXY), which tracks the greenback vs. a basket of its main rival currencies, looks mildly offered around 100.70 at the end of the week. (FXStreet) USD/CAD remains indecisive, struggles to extend previous day’s rebound from weekly low. Bullish chart formation needs validation from Canada Retail Sales for June. Convergence of 200-HMA, fortnight-long descending trend line guards immediate upside. Loonie pair sellers should wait for 1.3100 breakdown while targeting 1.3000 psychological magnet. (FXStreet) NZD/USD extends its downside for the sixth consecutive day. The 100-hour EMA is on the verge of crossing below the 200-hour EMA. The key support zone is located at 0.6200; the immediate resistance level is seen at 0.6285. USD/CHF edges higher during the first positive week, so far, in four despite snapping two-day uptrend. Overbought RSI, bearish MACD signals join short-term key resistance line to challenge pair buyers. 200-HMA, one-week-old horizontal region provide headwinds to Swiss Franc pair sellers. (FXStreet) EUR/GBP is oscillating around 0.8650 as investors await UK Retail Sales data for further guidance. The real income of UK households could grow as PPI has eased significantly.The ECB is expected to raise interest rates on July 27 and in September too. (FXStreet) AUD/USD meets with a fresh supply on Friday and drops back closer to the weekly low. China’s economic woes undermine the Aussie and exert pressure amid a stronger USD. A sustained breakdown below the 50% Fibo. should pave the way for deeper losses. (FXStreet) USD/TRY picks up bids to renew intraday high after declining in the last two consecutive days. CBRT lifts interest rates to 17.5% from 15.0%, versus 20.0% expected. Fed’s 0.25% bps rate hike is already given, policy pivot signals past July will be eyed for clear directions. Economic hardships for Turkiye keep Lira on the back foot despite likely future divergence between Fed and CBRT. (FXStreet) WTI crude oil extends its upside above the $76.20 mark heading into the European session. Market participants are repricing another Fed rate increase after the July meeting. Output cuts, the hope for China’s stimulus plan boosts the WTI price. (FXStreet) Prices of natural gas rose markedly and approached the key $2.80 region on Thursday. The daily gains, however, were amidst diminishing open interest and hints at the idea that a correction could be in store for the commodity in the very near term. In the meantime, there is a solid up-barrier at the June peak of $2.878 (June 28) ahead of the March high at $3.02 per MMBtu (March 3). (FXStreet) Gold price faces an intense sell-off as investors are confident that the Fed will raise interest rates further on July 27. More rate hikes are broadly anticipated as the United States' core inflation remains resilient. Support from BRICS’ gold-backed currency discussions is losing its appeal. (FXStreet) Silver regains positive traction on Friday and reverses a part of the previous day’s downfall. The technical setup remains tilted in favour of bulls and supports prospects for further gains. A convincing break below the $23.00 mark is needed to negate the near-term positive outlook. (FXStreet) Source: FXStreet, DailyFX 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.

2023-07-20 09:46

The index alternates gains with losses around 100.30. US yields attempt a modest recovery so far on Thursday. Weekly Claims, Philly Fed Index take centre stage later in the docket. The greenback bounces off earlier lows near the 100.00 region when gauged by the USD Index (DXY) on Thursday. (FXStreet) USD/CAD drifts lower for the fourth straight day and drops to a fresh weekly low on Thursday. A modest intraday USD downtick turns out to be a key factor exerting pressure on the major. Subdued Crude Oil prices do little to influence the Loonie or provide any impetus to the pair. (FXStreet) USD/JPY bounces off intraday low to reverse the first daily loss in three. Japan government cuts economic forecasts, PM Kishida advocates sustained exit from deflation. Mixed concerns about Fed, unimpressive yields prod Yen pair buyers. Japan Trade Balance improves in June, mid-tier US data eyed for fresh impulse. (FXStreet) GBP/USD loses ground around 1.2920, declining for the fifth consecutive day. UK’s June CPI, renewed USD demand exert pressure on the pair. Investors will watch the US Unemployment Claims and the UK Retail Sales for fresh impetus. (FXStreet) EUR/JPY oscillates in a narrow band above the 156.00 area. Markets have priced in a 25 basis point (bps) hike for the next ECB meeting, Japan's trade balance surprised with its first surplus since July 2021. (FXStreet) USD/CHF remains on the back foot at the lowest levels since January 2015 marked on Tuesday. Swiss trade surplus widens more than expected in June, Exports, Imports US Dollar drops on market’s reassessment of Fed bets amid mostly downbeat data. Risk catalysts eyed ahead of next week’s all-important FOMC. (FXStreet) EUR/GBP prints five-day winning streak despite retreat from two-month high the previous day. Clear break of multi-day-old resistance line, bullish MACD signals favor pair buyers. Nearly overbought RSI highlights 200-EMA, six-month-old horizontal area the key hurdles toward the north. (FXStreet) EUR/USD prints the first daily gains in three, grinds near intraday high of late. US Dollar retreats amid mixed markets, braces for next week’s FOMC. Talks about easing Eurozone inflation, downbeat employment prod Euro bulls. Preliminary readings of EU Consumer Confidence for July, mid-tier US employment, housing clues eyed for intraday directions. (FXStreet) GBP/JPY drifts lower for the fourth straight day and is pressured by a combination of factors. The softer UK CPI undermines the GBP while reviving safe-haven demand benefits the JPY. The BoJ-BoE policy divergence warrants some caution before positioning for further losses. (FXStreet) AUD/USD gains strong positive traction on Thursday and snaps a four-day losing streak. The upbeat Australian jobs data provides a goodish lift amid a modest USD downtick. China’s economic woes, US-China tensions and geopolitical risks could cap the upside. (FXStreet) Wednesday’s downtick in prices of WTI was in tandem with decreasing open interest and volume, exposing further recovery in the very near term. Against that, the immediate hurdle for the commodity remains at the July high past the $77.00 mark per barrel, an area that appears reinforced by the 200-day SMA. (FXStreet) Prices of natural gas retreated modestly on Wednesday. This daily pullback was amidst shrinking open interest and volume and leaves the door open to the continuation of the rebound in the very near term. In the meantime, prices of the commodity appear so far supported by the July low around the $2.50 zone per MMBtu. (FXStreet) Silver struggles to preserve its intraday gains to over a two-month high touched this Thursday. The technical setup remains tilted in favour of bulls and supports prospects for further upside. A convincing break below the $23.00 mark is needed to negate the near-term positive outlook. (FXStreet) Source: FXStreet, DailyFX 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.

2023-07-18 09:45

The index adds to Monday’s losses near 99.70. US yields keep the directionless mood on Tuesday. Retail Sales, Industrial Production next on tap. The USD Index (DXY), which tracks the greenback vs. a bundle of its rival currencies, trades with modest losses in the 99.80/70 band ahead of the opening bell in Euroland on turnaround Tuesday. (FXStreet) EUR/JPY fades bounce off intraday low after reversing from one-week high the previous day. Bearish candlestick formation, failure to cross 21-DMA keep sellers hopeful. Three-week-old horizontal area acts as extra filter towards the north. Ascending trend line from early April appears the key support to watch during fresh downside. (FXStreet) USD/CAD loses the momentum near 1.3180 in the Asian session. The US Dollar remains under pressure amid a less hawkish stance from the Federal Reserve (Fed). Crude oil reverses the pullback on Monday, boosts the commodity-linked Loonie. (FXStreet) EUR/USD climbs to a fresh YTD top and draws support from renewed USD selling bias. Bets that the Fed will soon end its rate-hiking cycle continues to weigh on the Greenback. Expectations for more rate hikes by the ECB underpin the Euro and also act as a tailwind. (FXStreet) USD/JPY grinds near intraday low, remains pressured for the second consecutive day after bouncing off two-month low. Traders from Tokyo fail to propel momentum despite returning from long weekend. Sluggish markets, mixed concerns about BoJ versus Fed divergence keep Yen prices dicey. Cautious mood, US Dollar’s retreats lure sellers ahead of US data. (FXStreet) GBP/JPY remains indecisive within the key trading range, fades previous week’s recovery. Convergence of 100-SMA, one-month-old horizontal region guards immediate upside. Nine-week-old rising support line, 200-SMA prods bears; monthly low acts as additional downside filter. Oscillators suggest further grinding toward the south but sellers seem cautious of late. (FXStreet) AUD/USD is consistently trading sideways above 0.6800 as investors await US Retail Sales data. The Aussie asset has failed to find action despite RBA minutes conveying that further interest rate hikes are required. S&P500 futures have posted nominal losses in Asia, portraying caution among market participants. (FXStreet) USD/INR remains confined in a narrow trading band around the 82.00 mark on Tuesday. Acceptance below the 200-day SMA supports prospects for some meaningful decline. Some follow-through selling below the monthly low will reaffirm the negative outlook. (FXStreet) USD/TRY prints three-day uptrend around the all-time peak, grinds higher of late. Turkish President Erdogan visits Saudi Arabia, signs deals of defense, energy, etc., UK also braces for trade deal with Ankara. CBRT braces for another heavy rate hike to tame inflation woes after the previous disappointment. US Retail Sales, Industrial Production will guide intraday moves. (FXStreet) WTI crude oil price grinds near intraday high during the first profit-making day in three. Bullish MACD signals favor commodity’s bounce off 10-DMA but three-week-old previous support line prods energy buyers. 100-DMA acts as additional downside support while 200-DMA appears a tough nut to crack for WTI bulls. (FXStreet) Natural Gas snaps four-day losing streak, bounces off the lowest level in a month. IEA warns of European gas crisis this winter if Russia halts supplies. End of maintenance at multiple Norwegian natural gas rigs propel XNG/USD output. Downbeat US Dollar, cautious optimism about Sino-US ties also underpin Natural Gas recovery. (FXStreet) Gold price attracts some buying on Tuesday, albeit lacks bullish conviction. A modest US Dollar weakenss is seen lending support to the precious metal. The uncertainty over the Fed's rate hike path caps gains for the XAU/USD. (FXStreet) Silver touches a fresh two-month peak on Tuesday, albeit lacks any follow-through. The technical setup favours bullish traders and supports prospects for further gains. Any meaningful corrective slide is more likely to get bought into and remain limited. (FXStreet) Source: FXStreet, DailyFX 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.