Dedollarisation vs. Gold; what to expect in April

Dedollarisation vs. Gold; what to expect in April

2023-04-14 • Updated

De-dollarization is the hot new trend, as countries give the greenback a break and seek alternatives for international trade. With geopolitical tensions and economic tangoes, the US dollar is feeling the heat. But fear not, gold might just be the star of the show! As nations diversify their reserves, our shiny friend could see its demand and value skyrocket. Imagine a world where gold's once-upon-a-time role as a global currency makes a comeback, how vintage! Inflation and currency woes might just have investors trading greenbacks for glittering gold. So, buckle up and watch the unfolding drama of global finance, as de-dollarization might just make gold the damsel of the ball! Technically speaking, however, there is somewhat of a  bumpy road ahead.

US DOLLAR - Weekly Timeframe


The weekly timeframe of the US Dollar presents a consolidating price action within a descending channel. The movement seems to be approaching a pivot zone which could provide some degree of relief from the forceful pull of gravity on the Dollar - I am not totally convinced though. Hence, you will notice I have marked this as a knife-edge scenario; which means, price could react either way. Before I hit the 'buy' or 'sell' button, I will patiently await a clear reversal chart pattern for further confirmation.

XAUUSD - Weekly Timeframe


The price action on Gold is pretty simple and easy to interpret. First of all, we see price stalling at the pivot zone, then, we also see that there is a confluence of resistance trend lines right within that pivot level. The logical conclusion from this is a bearish sentiment on Gold, however, I would rather err on the side of caution by waiting for further price action confirmations before squeezing the trigger.

Analysts’ Expectations: 

Direction: Bearish

Target: $2,006.59

Invalidation: $2063.32


The trading of CFDs comes at a risk. Thus, to succeed, you have to manage risks properly. To avoid costly mistakes while you look to trade these opportunities, be sure to do your due diligence and manage your risk appropriately.


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Australian GDP: What to Expect
Australian GDP: What to Expect

Let's take a closer look at Australia's recent economic performance. Brace yourselves for some interesting developments. The country's economy experienced its slowest growth since late 2021 in the first quarter, raising doubts about the Reserve Bank of Australia's rapid interest rate increases. Despite the bank's record-breaking 12 rate hikes in the last 13 months, the resource-rich economy only grew by a modest 0.2% in the quarter, falling short of economists' expectations.

Gold and the Majors ahead of the NFP
Gold and the Majors ahead of the NFP

Let's dive into the latest developments shaping the global economic landscape. Good news first: the threat of an unprecedented US debt crisis has receded, as US lawmakers passed a bill to raise the debt ceiling and avoid a catastrophic default. Phew! But don't pop the champagne just yet, because storm clouds are still looming. High inflation, rising interest rates, and sluggish growth are challenges that have yet to disappear.

What to Trade in June
What to Trade in June

Hey guys, this is the last full trading week in May, and many forward-looking individuals like myself are already preparing themselves to seize whatever opportunities June may have in store. On this note, I will review a few commodities that have satisfied my quest for swing-trading opportunities in the coming month. Follow me!

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SEC Crackdown and the future of Crypto
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Are you aware of the recent crackdown by the SEC on major cryptocurrency exchanges, Binance US and Coinbase? Surprisingly, savvy Bitcoin traders seem unfazed, as options-based implied volatility metrics indicate. It appears that the lawsuits were anticipated and already factored into the market. Implied volatility reflects investors' expectations of price turbulence, but little evidence of heightened concern exists.

US Dollar at Crucial Zone: What Next?
US Dollar at Crucial Zone: What Next?

Let's dive into the recent debt ceiling saga in the US and its implications for the economy, deficit, and inflation. The good news is that a new debt deal is on the horizon, saving us from a potential default on June 5. Phew! This deal will impact the economy by providing stability and avoiding a financial catastrophe.

CAD Outlook Ahead of BoC Overnight Rate
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Get ready for some suspense as the Bank of Canada faces a tough decision on whether to raise interest rates or keep them on hold. The resilient Canadian economy and the goal of curbing inflation further are at the heart of this dilemma. While some money markets and economists predict another rate hike, others believe the central bank should exercise caution and wait, hinting at a possible increase later in the summer.

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