Gold rebounded on Wednesday as the dollar fell ahead of crucial US inflation data. In the previous two sessions, gold eased amid reports of a looming ceasefire in the war between Israel and Hezbollah. Moreover, Trump’s pick for the next US Treasury Secretary boosted the dollar and weighed on the yellow metal. The greenback paused Read More…
As Thanksgiving approaches, please note the adjusted trading schedule for November 27–29, 2024. Stay informed to plan your trading effectively! Key Schedule Highlights: Wishing all traders a safe and happy Thanksgiving! For full details, please refer to the official CME Group holiday schedule.
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Gold futures introduction Building on the November 7 analysis, where we discussed the potential Head and Shoulders (H&S) formation, today’s updated chart confirms resistance at $2,707.6, aligning with the Right Shoulder level. Gold remains in its ascending channel, but a breakdown of $2,542.3, the “Last Support,” would validate the H&S pattern, triggering a reversal with Read More…
Most currency futures fell on Friday as the dollar rallied on upbeat business activity data. The trend continued on Monday as dollar bulls applauded Trump’s Treasury Secretary nomination. However, the Canadian dollar traded near a high hit on Friday after upbeat sales data. Trump nominated Scott Bessent as the new Treasury Secretary. The dollar rose Read More…
Interest futures fell on Thursday as the dollar, and Treasury yields rose on upbeat US employment data. However, by Friday, prices recovered as market participants awaited the US manufacturing and services PMI figures. US jobless claims (Source: Labor Department) Data on Thursday revealed that US initial jobless claims fell from 219,000 to 213,000 last week. Read More…
