
About 24% of global central banks intend to increase gold reserves in 2023. Rising inflation, geopolitical turmoil, and worries about interest rates are reasons to increase gold reserves.
As a result, USD/JPY tested the support at 110.80 but surged after. The pair has touched highs of July 20 near 111.60. The weak USD will let the pair trade within 110.80-111.60. The rise of the USD will pull the pair above 111.60. The next resistance is far, at 112.65.
In early trading, USD/CAD reached the resistance at 1.3090 (the pivot point). However, the weakness of the USD pulled the pair back. The pair is trying to recover. The strengthening of the USD will pull the pair back to the pivot point. However, the resistance is too strong. 50-day MA lies at that level. Canadian GDP data will be out at 15:30 MT time. If the actual data is greater than the forecast, the pair will go down. The support is at 1.2990.
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About 24% of global central banks intend to increase gold reserves in 2023. Rising inflation, geopolitical turmoil, and worries about interest rates are reasons to increase gold reserves.
Greetings to a brand new week full of events, economic releases and US debt frictions. We are here to tell you everything you need to know!
The US dollar index breaks one resistance after another. Read the report to learn the next target for the US dollar index!
Saudi Arabia agreed to cut oil production. What will happen with the oil price now?
The situation on the labor market still looks optimistic. Today we expect the Unemployment rate data. 3.5% is expected.
The first day of June should’ve brought us the US default. Unsurprisingly, the US House passes the debt ceiling bill at the latest possible moment.
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