2024-02-27 09:03

Market Update - 27 February 2024 EUR/USD continues its winning streak that began on February 14, with the subdued US Dollar (USD), potentially influenced by the lower US Treasury yields. Consequently, during Tuesday's Asian session, the EUR/USD pair hovers around 1.0850. (FXStreet) The GBP/USD pair extends the rally below the 1.2700 psychological barrier during the early Asian session on Tuesday. The FOMC minutes indicated that the Fed had reaffirmed a data-driven approach, leading to a more dovish outlook, which weighs on the US Dollar (USD) and creates a tailwind for the pair. At press time, GBP/USD is trading at 1.2685, gaining 0.02% on the day. (FXStreet) The USD/CHF pair consolidates in a narrow trading range during the early European session on Tuesday. Investors seem to prefer to wait on the sidelines ahead of key events from the US and Swiss dockets. Meanwhile, the decline of the US Dollar (USD) weighs on the pair. At press time, USD/CHF is trading at 0.8798, adding 0.02% on the day. (FXStreet) The USD/CAD pair oscillates in a narrow trading band of 1.3495–1.3515 during the early Asian session on Tuesday. Investors await the fresh catalysts from the incoming economic data this week. The US and Canadian Gross Domestic Product (GDP) will be released on Wednesday and Thursday, respectively. The pair currently trades around 1.3507, adding 0.01% on the day. (FXStreet) The NZD/USD pair remains under some selling pressure for the second straight day on Tuesday and drops to a one-week low, around mid-0.6100s during the Asian session. Spot prices, however, recover a few pips from the daily trough in the wake of a modest US Dollar (USD) downtick and currently trade around the 0.6165 region, down just over 0.10% for the day. (FXStreet) The People’s Bank of China (PBoC) set the USD/CNY central rate for the trading session ahead on Tuesday at 7.1057 as compared to previous day's fix of 7.1080 and 7.1945 Reuters estimates. (FXStreet) GBP/JPY halts its winning streak that began on February 20, edging lower to near 190.80 during the Asian session on Tuesday. However, speculation arose regarding a potential delay in rate cuts following a testimony to the UK Treasury Committee by Bank of England (BoE) Governor Andrew Bailey and other policymakers last week. Bailey mentioned that while he wouldn't forecast the exact number of cuts, the bank was moving towards a path of lowering rates. This speculation has lifted the Pound Sterling (GBP) against the Japanese Yen (JPY). (FXStreet) USD/MXN extends its losses for the second successive day, trading lower around 17.08 during the early European hours on Tuesday. This decline can be attributed to the weakened US Dollar (USD), primarily influenced by subdued US Treasury yields. Moreover, improved risk appetite in the market exerts additional downward pressure on the Greenback, acting as a headwind for the USD/MXN pair. (FXStreet) The EUR/JPY cross trades in negative territory after being rejected from the multi-month highs of 163.50 during the early European trading hours on Tuesday. The hotter-than-expected Japanese CPI data has prompted investors to be more cautious about the probability of the BOJ exiting negative interest rate policy at the March meeting, which provides some support to the Japanese Yen (JPY). At press time, the cross is trading at 163.28, losing 0.15% on the day. (FXStreet) EUR/GBP is closing in on multi-month support and traders should be aware of the multiple attempts to break lower. Traders should look for a reaction higher before considering any trade. A confirmed break of support will leave 0.8500 as the next level for traders to watch. (DailyFX) AUD/JPY also appears to have discovered a period of resistance after the Thursday and Friday daily candles presented higher upper wicks around a prior level of resistance. This typically suggests a rejection of higher prices and a waning of bullish momentum. The uptrend is still very much intact with price action rising above the 50 and 200 day simple moving average. Resistance at 98.70 remains in play for the pair. (DailyFX) The West Texas Intermediate (WTI) oil price has dipped slightly to near $77.30 per barrel during the Asian session on Tuesday. However, Crude oil prices have found support from ongoing geopolitical tensions in the Red Sea region. Specifically, the targeting of civilian shipping vessels by Iran-led Houthis has raised concerns about potential disruptions to supply lines between Europe and Asia. As a result, bids for Crude oil barrels remain elevated as market participants monitor the situation closely. (FXStreet) Gold price (XAU/USD) attracts some dip-buyers following the previous day's modest pullback and holds steady above the $2,030 level during the Asian session on Tuesday. The US Dollar (USD) remains depressed in the wake of a fresh leg down in the US Treasury bond yields and turns out to be a key factor acting as a tailwind for the commodity. Moreover, the cautious market mood is seen benefitting the precious metal's relative safe-haven status, though hawkish Federal Reserve (Fed) expectations keep a lid on any further gains. (FXStreet) Silver price (XAG/USD) recovers sharply to near $22.70 as the US Dollar comes under pressure in the London session on Tuesday. The white metal rises as the US Dollar faces a sell-off due to easing geopolitical tensions. (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.

2024-02-26 09:18

Market Update - 26 February 2024 The EUR/USD pair trades on a softer note amid a modest rebound of the US dollar (USD) during the early Asian session on Monday. The US January PCE inflation data will be in the spotlight this week. This data could trigger volatility in the market. At press time, EUR/USD is trading at 1.0819, losing 0.03% on the day. (FXStreet) GBP/USD breaks its four-day winning streak and trades slightly lower around 1.2660 during the Asian session on Monday. The US Dollar (USD) maintains its strength on hawkish comments from Federal Reserve’s (Fed) officials, which in turn, undermines the GBP/USD pair. Additionally, the lower February consumer confidence data from the United Kingdom (UK) might have put downward pressure on the Pound Sterling (GBP). (FXStreet) The USD/CHF pair trades sideways above the 0.8800 mark during the early European session. The US and Swiss Gross Domestic Product (GDP) for the fourth quarter (Q4) could provide a clear direction to the pair. The annualized US GDP growth number is estimated to remain steady at 3.3%. USD/CHF currently trades around 0.8811, unchanged for the day. (FXStreet) The USD/CAD pair attracts some buyers above the 1.3500 mark during the Asian session on Monday. The recovery of the pair is bolstered by renewed US Dollar (USD) demand. Investors await the Canadian Current Account and the US Gross Domestic Product annualized for the fourth quarter (Q4) for fresh impetus. At press time, USD/CAD is trading at 1.3512, adding 0.07% on the day. (FXStreet) The NZD/USD pair comes under heavy selling pressure on the first day of a new week and retreats further from a five-week peak, around the 0.6215-0.6220 region touched last Thursday. Spot prices drop to the 0.6165-0.6160 area during the Asian session and for now, seem to have snapped an eight-day winning streak amid a modest US Dollar (USD) strength. (FXStreet) On Monday, the People’s Bank of China (PBoC) set the USD/CNY central rate for the trading session ahead at 7.1080 as compared to Friday's fix of 7.1064 and 7.1998 Reuters estimates. (FXStreet) The AUD/JPY cross comes under some selling pressure during the Asian session on Monday and snaps an eight-day winning streak to the 99.00 mark, or its highest level since December 2014. Spot prices currently trade around the 98.60 region, with bears now awaiting a sustained break and acceptance below the 100-hour Simple Moving Average (SMA) before positioning for any further losses. (FXStreet) The USD/INR bearish short-term outlook remains unchanged as the pair trades below the crucial 100-day Exponential Moving Average (EMA) on the daily chart. Furthermore, the 14-day Relative Strength Index (RSI) is below the 50.0 midline, suggesting the path of least resistance level is to the downside. (FXStreet) EUR/GBP halts its three-day losing streak, edging higher to near 0.8540 during the Asian session on Monday. The Euro (EUR) receives upward support on hawkish comments from European Central Bank’s (ECB) members. Additionally, ECB Monetary Policy Meeting Accounts for January indicated that policymakers maintain caution regarding easing monetary policy. They expressed a consensus that it was premature to discuss rate cuts at the meeting. Traders will likely watch the ECB President Christine Lagarde’s speech later on Monday. (FXStreet) The EUR/JPY cross holds below the 163.00 mark during the early European session on Monday. The concern about a technical recession in Japan and the risk-on mood weigh on the Japanese Yen (JPY). However, the warning from Japanese authorities to intervene in the FX market might cap the downside of the JPY. The cross currently trades near 162.85, down 0.01% on the day. (FXStreet) The USD/MXN pair experiences a decline after two consecutive days of gains, trading around 17.10 during the early European session on Monday. This downward movement is attributed to subdued US Treasury yields, which are putting pressure on the US Dollar (USD), consequently, undermining the USD/MXN pair. (FXStreet) West Texas Intermediate (WTI) oil prices extend their decline for the second consecutive session, hovering near $76.00 per barrel during the Asian trading session on Monday. The downward pressure on Crude oil prices can be attributed to uncertainties surrounding demand, likely influenced by heightened global risk sentiment. This sentiment could prompt central banks to adopt a patient stance regarding the trajectory of interest rates. (FXStreet) Gold price (XAU/USD) reverses an intraday dip and climbs to the $2,035 region during the early European session, though remains below a two-week high touched on Friday. The US Dollar (USD) continues with its struggle to attract any buyers amid retreating US Treasury bond yields, which, in turn, is seen as a key factor acting as a tailwind for the commodity. Apart from this, persistent worries about geopolitical risks stemming from conflicts in the Middle East and the prolonged Russia-Ukraine war lend additional support to the safe-haven precious metal. (FXStreet) Silver (XAG/USD) meets with a fresh supply on the first day of a new week and erodes a major part of Friday's recovery gains from over a one-week low. The white metal maintains its offered tone around the $22.85-$22.80 zone through the first half of the European session and seems vulnerable to prolonging its recent downfall witnessed over the past week or so. (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.

2024-02-23 09:10

Market Update - 23 February 2024 EUR/USD consolidates following a volatile session prompted by the release of European and US Purchasing Managers Index (PMI) data on Thursday. The Euro (EUR) stabilized as investors processed the mixed figures concerning private business activity in the European Union (EU). The pair gets buoyed around 1.0820 during the Asian trading hours on Friday. (FXStreet) Cable (GBP/USD) is currently changing hands around 1.2675 after having touched a three-week high of 1.2710 earlier in the session. If today’s high can be reclaimed then a cluster of prior highs between 1.2750 and 1.2800 come into play. (DailyFX) The USD/CHF pair ticks higher during the Asian session on Friday, albeit lacks bullish conviction and remains confined within the previous day's broader range. Spot prices currently trade around the 0.8800 mark, comfortably above a one-and-half-week low touched on Thursday and remain at the mercy of the US Dollar (USD) price dynamics. (FXStreet) USD/CAD remains silent with a bias towards extending its losses for the third successive session, hovering around 1.3480 during the Asian session on Friday. The USD/CAD pair loses ground as the US Dollar (USD) remains subdued amidst speculation of potential interest rate cuts by the Federal Reserve (Fed). Additionally, the Canadian Dollar (CAD) received upward support following the release of mixed Retail Sales data from Canada on Thursday. (FXStreet) NZD/USD grapples to extend its winning streak that began on February 14 amid a stable US Dollar. The NZD/USD pair struggles around the psychological level of 0.6200 during the Asian trading hours on Friday. (FXStreet) The People’s Bank of China (PBoC) set the USD/CNY central rate for the trading session ahead on Friday at 7.1064 as compared to the previous day's fix of 7.1018 and 7.2008 Reuters estimates. (FXStreet) GBP/JPY remains around 190.60 during the Asian session on Friday, exhibiting a positive bias to extend its winning streak for the fourth consecutive day. Concerns about a potential recession in Japan may delay the Bank of Japan's (BoJ) plan to exit from negative interest rates in the near term. (FXStreet) The EUR/JPY cross extends its upside near the 163.00 psychological barrier during the early European session on Friday. The pair edges higher after the German GDP growth number for Q4 matched the market estimation. The cross currently trades around 163.07, gaining 0.12% on the day. (FXStreet) USD/INR is back to the lower end of the 82.70-83.50 range since the start of the year. Economists at Commerzbank analyze the pair’s outlook. (FXStreet) USD/MXN continues its upward trajectory for the second consecutive day, edging higher to near 17.10 during the early European hours on Friday. The pair receives upward support following softer data from Mexico and mixed data from the United States (US) released on Thursday. (FXStreet) EUR/GBP is closing in on multi-month support and traders should be aware of the multiple attempts to break lower. Traders should look for a reaction higher before considering any trade. A confirmed break of support will leave 0.8500 as the next level for traders to watch. (DailyFX) Western Texas Intermediate (WTI), the US crude oil benchmark, is trading around $78.00 on Friday. WTI prices edge higher as the EIA Crude Oil stockpiles report came in just below forecasts and the geopolitical tensions in the Middle East remain uncertain. (FXStreet) Gold price (XAU/USD) attracts some follow-through selling on Friday and retreats further from a nearly two-week high set the previous day. Hawkish FOMC meeting minutes released on Wednesday, along with comments by a slew of influential Federal Reserve (Fed) officials, suggested that the US central bank is in no hurry to cut interest rates. The higher-for-longer narrative remains supportive of elevated US Treasury bond yields. Furthermore, the recent risk-on rally across the global financial markets remains unabated and further contributes to driving flows away from the non-yielding yellow metal. (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.

2024-02-22 09:21

Market Update - 22 February 2024 EUR/USD extends its winning streak initiated on February 14, with the US Dollar (USD) facing downward pressure due to concerns raised over potential interest rate cuts in the Federal Reserve Meeting Minutes published on Wednesday. As a result, the pair edges higher to around 1.0820 during the Asian session on Thursday. (FXStreet) On the daily chart, the late October/early November double high just under 152 stands out as an area of interest. If USD/JPY approaches this multi-decade high then the market will be on high alert for any signs of official intervention, either verbal or actual. If Japanese officials effectively cap USDJPY around this level, and with rate differentials between the currencies narrowing in the months ahead, USD/JPY may have a way to fall this year. (DailyFX) The GBP/USD pair trades on a stronger note below the mid-1.2600s during the early European section on Thursday. Investors await the UK S&P Global/CIPS PMI report for February. The manufacturing PMI figure is expected to improve to 47.5 in February from 47.0 in January, while the Services PMI figure is projected to drop to 54.1 in January versus 54.3% prior. At press time, GBP/USD is trading at 1.2640, up 0.06% on the day. (FXStreet) USD/CHF continues to lose ground for the third consecutive session on Thursday. The decline in the US Dollar (USD) contributes to undermining the USD/CHF pair, trading around 0.8780 during the Asian hours on Thursday. (FXStreet) USD/CAD expands its losses to near 1.3490 during the Asian session on Thursday as the US Dollar (USD) shows weakness, which could be attributed to the subdued US Treasury yields. However, US Treasury yields gained ground on Wednesday following the cautious tone expressed in the Federal Open Market Committee (FOMC) Minutes regarding the interest rate reductions. (FXStreet) The NZD/USD pair gains positive traction for the seventh successive day on Thursday and hits a nearly five-week high during the Asian session. Spot prices, however, remain capped near the 0.6200 mark and retreat a few pips in the last hour amid the emergence of some US Dollar (USD) buying. (FXStreet) The EUR/JPY cross gains momentum for the third consecutive week during the early European trading hours on Thursday. However, the potential intervention in the market by the Japanese authorities might boost the Japanese Yen (JPY) and cap the upside of the EUR/JPY cross. At press time, EUR/JPY is trading at 162.80, gaining 0.19% on the day. (FXStreet) EUR/GBP recovers its recent losses on Thursday, trading higher around 0.8570 during the Asian session. On Wednesday, Swati Dhingra, a member of the Bank of England (BoE), suggested that delaying interest rate cuts could lead to increased living costs and potentially result in a harsh economic downturn for the United Kingdom (UK). Dhingra reiterated her argument in favor of implementing rate cuts. (FXStreet) Indian Rupee trades flat on the day. USD/INR remains confined within a multi-month-old descending trend channel between 82.70 and 83.20 since December 8, 2023. (FXStreet) The USD/ZAR continues to trade within a short-term range between levels 18.80 (support) and 19.15 (resistance). (DailyFX) WTI Crude oil it's lower on Tuesday and tests a very key level comprised of the 200 day simple moving average and the long-term level of significance at $77.40. Over the more medium term price action trades higher, within an ascending channel marking a series of higher highs and higher lows. (DailyFX) Gold price (XAU/USD) gains positive traction for the sixth successive day on Thursday and climbs back above the $2,030 level during the early part of the European session, closer to over a one-week high touched the previous day. Despite the Federal Reserve's (Fed) hawkish outlook on interest rates, the US Dollar (USD) drops to a three-week low and turns out to be a key factor underpinning the commodity. Apart from this, concerns about geopolitical tensions stemming from conflicts in the Middle East further benefit the precious metal's safe-haven status and remain supportive of the move up. (FXStreet) Silver (XAG/USD) builds on the overnight bounce from the 200-hour Simple Moving Average (SMA) support near the $22.75 area, or the weekly low and gains strong positive traction on Thursday. The momentum remains unabated through the first half of the European session and lifts the white metal to the $23.10-$23.15 region. (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.

2024-02-21 09:47

Market Update - 21 February 2024 EUR/USD continues its winning streak that began on February 14 as the US Dollar (USD) receives downward pressure, which in turn, underpins the EUR/USD pair. The pair edges higher around 1.0810 during the Asian session on Wednesday. (FXStreet) The GBP/USD pair edges higher above the 1.2600 mark during the early Asian session on Wednesday. The optimistic comments from Bank of England (BoE) Governor Andrew Bailey boosted the Pound Sterling (GBP). The major pair currently trades near 1.2625, unchanged for the day. (FXStreet) USD/CHF moves downward for the second consecutive day, trading lower near 0.8800 during the Asian session on Wednesday. The weakening of the USD/CHF pair can be attributed to a softer US Dollar (USD), which is influenced by subdued US Treasury yields. This downturn may reflect market sentiment regarding potential rate cuts by the Federal Reserve (Fed) in upcoming meetings. (FXStreet) The USD/CAD pair gains ground above the 1.3500 mark during the early Asian trading hours on Wednesday. A weaker-than-expected Canadian inflation data weighs on the Canadian Dollar (CAD) and acts as a tailwind for USD/CAD. The attention is shifted to the FOMC Meeting Minutes on Wednesday. The pair currently trades near 1.3526, up 0.03% on the day. (FXStreet) NZD/USD continues to extend its winning streak that began on February 14 on the subdued US Dollar, which could be chalked up to the lower US Treasury yields. The NZD/USD pair rises to near 0.6190 during the Asian trading hours on Wednesday. (FXStreet) The People’s Bank of China (PBoC) set the USD/CNY central rate for the trading session ahead on Wednesday at 7.1030 as compared to the previous day's fix of 7.1068 and 7.1877 Reuters estimates. (FXStreet) AUD/JPY extends its winning streak for the sixth consecutive day as the Australian Dollar (AUD) strengthens against the Japanese Yen (JPY) following the Reserve Bank of Australia's (RBA) meeting minutes, which has transformed market bias towards the possibility of no rate cuts soon. The AUD/JPY cross trades higher around 98.40 during the Asian hours on Wednesday. (FXStreet) EUR/GBP snaps its five-day winning streak, edging lower to near 0.8560 during the Asian session on Wednesday. The Pound Sterling (GBP) strengthens against the Euro (EUR) on the back of positive comments from the Bank of England (BoE) Governor Andrew Bailey. (FXStreet) For a highly volatile FX pair, USD/ZAR has been exceptionally quiet. Economists at ING analyze the pair’s outlook ahead of the South African annual budget. (FXStreet) WTI Crude oil it's lower on Tuesday and tests a very key level comprised of the 200 day simple moving average and the long-term level of significance at $77.40. Over the more medium term price action trades higher, within an ascending channel marking a series of higher highs and higher lows. (DailyFX) Gold (XAU/USD) rose for the fourth straight session on Tuesday (+0.50% to $2,027), firmly establishing itself above the $2,025 mark, supported by declining U.S. Treasury yields and a subdued U.S. dollar, with risk-averse sentiment on Wall Street likely reinforcing the metal’s advance. (DailyFX) Silver price (XAG/USD) turns sideways around $23.15 after a strong recovery in the European session on Wednesday. The white metal clings to solid gains as the US Dollar has shifted to the backfoot AS Federal Reserve (Fed) policymakers are confident that the secular inflationary trend is in the right direction despite a one-time rise in price pressures in January. (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.

2024-02-20 08:51

Market Update - 20 February 2024 EUR/USD retreats from the weekly high of 1.0789, which was recorded on Monday, snapping a four-day winning streak. The pair trades lower around 1.0770 during the Asian hours on Tuesday with positioning above the immediate support at the psychological level of 1.0750. (FXStreet) USD/JPY strengthens for the third consecutive trading day, supported by a stronger US Dollar (USD). This uptrend can be attributed to market sentiment, which is biased towards the possibility of the Federal Reserve (Fed) refraining from implementing any rate cuts in the upcoming meetings in March and May. This sentiment has been reinforced by stronger data on consumer and producer prices released last week. The USD/JPY pair trades higher around 150.30 during the early European session on Tuesday. (FXStreet) GBP/USD continues to remain in the negative territory, trading around 1.2580 during the Asian session on Tuesday. The strength of the US Dollar (USD) could be attributed to the improved US Treasury yields, which in turn, weighs on the GBP/USD pair. Traders are awaiting meeting minutes from the Federal Open Market Committee (FOMC) scheduled for Wednesday. (FXStreet) The USD/CAD pair trades on a stronger note above the 1.3500 psychological mark during the Asian session on Tuesday. The uptick of the pair is bolstered by the stronger US Dollar (USD). The Canadian inflation data will be in the spotlight on Tuesday and could trigger volatility in the market ahead of the FOMC Minutes. At press time, USD/CAD is trading at 1.3506, gaining 0.12% on the day. (FXStreet) NZD/USD: Retail trader data shows 48.93% of traders are net-long with the ratio of traders short to long at 1.04 to 1. In fact, traders have remained net-short since Feb 12 when NZD/USD traded near 0.61, price has moved 0.26% higher since then. The number of traders net-long is 2.33% lower than yesterday and 8.06% lower from last week, while the number of traders net-short is 28.43% higher than yesterday and 1.87% lower from last week. (DailyFX) On Tuesday, the People’s Bank of China (PBoC) set the USD/CNY central rate for the trading session ahead at 7.1068 as compared to Monday's fix of 7.1032 and 7.2080 Reuters estimates. (FXStreet) Indian Rupee (INR) trades firmly on Tuesday despite the stronger US Dollar (USD). The INR is expected to trade with a modest positive bias, supported by carry trades and the speculation that the Reserve Bank of India (RBI) will ease monetary policy more slowly than the Fed. However, a continuation of debt-related dollar inflows, higher crude oil, and rising US bond yields might cap the upside of the pair in the near term. (FXStreet) The USD/CNH pair trades in negative territory for the fifth consecutive day during the early European session on Tuesday. The People's Bank of China (PBoC) cut the five-year Loan Prime Rate (LPR) by 25 basis points (bps) from 4.20% to 3.95%, which is a key benchmark lending rate used to price mortgages. Meanwhile, the one-year LPR remained unchanged at 3.45%. USD/CNH is trading at 7.2090, down 0.03% on the day. (FXStreet) EUR/GBP is closing in on multi-month support and traders should be aware of the multiple attempts to break lower. Traders should look for a reaction higher before considering any trade. A confirmed break of support will leave 0.8500 as the next level for traders to watch. (DailyFX) West Texas Intermediate (WTI) oil price retraces its recent losses registered on Monday. WTI price trades higher around $78.30 per barrel during the Asian trading hours on Tuesday. The escalated threat of the oil supply disruption from the Middle East is supporting the prices of Crude oil. (FXStreet) Gold price gains momentum for the fourth straight day during the early European session on Tuesday. The yellow metal trades in positive territory despite the rebound of the US Dollar (USD) and higher bond yields. Trading activity was low on Monday as markets closed in the US. However, investors will take more cues from the FOMC Minutes on Wednesday about the outlook for US interest rates. At press time, the gold price is trading at $2,020, adding 0.09% on the day. (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.