No problem — we will send you a password reset link to your registered email
Still no joy? Contact us
Thanks — all done!
Please check your inbox and follow
the instructions
Still no joy? Contact us
... and now a few questions so we can create your bespoke configuration
(we will email it to you)
You can answer the questionnaire later, or choose the default TradeRadius profile if you prefer
You Are Subscribed To TradeRadius News!
Link is expired. Please try again.
Your comment has been sent for moderation.
You are skipping the configuration step. It means we will apply default Quant Model configuration to your account. You will be able to answer the questions later. If you would like to get personalized configuration, please, answer on the questionnaire
live commentary Post
XAU/USD dives amid stalled US debt-ceiling talks as the USD strengthens
By TradeRadius | Wed, 24 May 2023 15:48:52 UTC
Gold price faces solid resistance at the 50-day Exponential Moving Average (EMA) at $1976.47, retraces some of its earlier gains after hitting a daily high of $1985.27. Talks between the US Congress and the White House (WH) failed to provide any relief; hence market participants are triggering toward safe-haven assets, not being Gold one of them. At the time of writing, XAU/USD is trading at $1969.20, down by 0.20%.
Political uncertainty triggers flows toward safety, bolstering the US Dollar
Wall Street continues to print losses as sentiment remains dented by the political uncertainty in the United States (US). Several reports on Tuesday updated that talks between President Biden and US House Speaker McCarthy did not make much progress. Divisions are seen in spending cuts proposed by the Republicans, while the White House is pushing for more taxes as part of the agreement.
Recently, US Treasury Secretary Janet Yellen said that “It is hard to be precise exactly which day we will run out of resources,” on Wednesday, as reported by Reuters. The former Fed Chair Yellen added that her office would try to increase the level of precision on the date the US Government will rule out of money.
Before Wall Street opened, XAU/USD rallied towards its daily high above $1985 just to see those gains evaporate as the greenback is staging a comeback, propelled by US bond yields. US real yields are climbing, standing at 1.449%, as shown by Treasury Inflation-Protected Securities (TIPS), while the 10-year benchmark note yields 3.709%, up one bps.
In the meantime, the US Dollar Index (DXY), a gauge of the buck’s value against a basket of its rivals, advance 0.25%, up at 103.776, above its 200-day Exponential Moving Average (EMA) for the first time since March 15, 2023.
XAU/USD traders will focus on the release of the US Federal Reserve Open Market Committee (FOMC) minutes at around 18:00 GMT, where the Federal Reserve (Fed) delivered a dovish rate hike of 25 basis points (bps) at its May 2-3 meeting. Traders would scrutinize the minutes, looking for clues about Fed Chair Jerome Powell and Co’s forward path.
XAU/USD Price Analysis: Technical outlook
XAU/USD is still neutral-biased, though a daily close below the 50-day Exponential Moving Average (EMA) can open the door for further weakness. However, sellers are still pending from breaking below the $1950 psychological level, tested three times in the last five trading days, with Gold sellers unable to drag prices toward the 100-day EMA at $1933.84. In that outcome, the next support would be the $1900 mark. Otherwise, Gold’s daily close above $1977 will keep buyers hopeful of a re-test of the $2000 figure.
Partners News
USD/JPY Outlook: Yen Retreats From 2-Month Top After US GDP
The USD/JPY outlook is slightly bullish, with the yen retreating from a 2-month high. This shift comesas the dollar strengthens on the back of upbeat GDP data, indicating a robust economic landscape. At the same time, investors look forward to next week’s Bank of Japan policy meeting.
By TradeRadius | 21 Minutes Ago
GBP/USD Price Analysis: Weak Upside Ahead of US Inflation
The GBP/USD price analysis highlights a bearish trend despite a slight recovery ahead of the US inflation data. The pound fell as investors increased expectations for Bank of England rate cuts in the previous session. At the same time, the dollar was steady amid signs the US economy remains...
By TradeRadius | 21 Minutes Ago
Targeted dating apps make match with mainstream rivals left on shelf
Community knowledge is helping sites such as Grindr and Feeld reel in users, while Tinder and Bumble lose lustre
By TradeRadius | 36 Minutes Ago
Ceigall India opens bid for IPO on August 1. Check dates, other details
The IPO consists of a fresh issue of shares worth Rs 617.69 crore and an offer for sale (OFS) of up to 1.42 crore shares with a face value of Rs 5 per share. The company has informed that the price band, employee discount and the minimum bid lot will be decided by the company…
By TradeRadius | 45 Minutes Ago
Steve Kornacki breaks down the rules of Olympic Handball | Keeping Score
IE 11 is not supported. For an optimal experience visit our site on another browser. July 26, 202403:14 UP NEXT U.S. swimmer Torri Huske wins the 100m Butterfly Olympic heat race 02:10 Watch riveting moment from USA vs China in Olympic Badminton 01:15
By TradeRadius | 45 Minutes Ago
‘He always managed to play golf’: My husband of 14 years never worked and now we’re divorcing. He wants half of my $1 million home. What can I do?
“I made all the mortgage payments, in addition to paying for health coverage for both of us.”
By TradeRadius | 1 Hours Ago
Team USA push for first gold medals as Olympic Games kick off
21m ago / 8:45 AM UTC Freddie Clayton For those who caught last night’s opening ceremony, you may have noticed the torrential rain pouring down on Paris. And due to the adverse weather, organizers have pushed back the men’s street skateboarding event originally scheduled to start this morn...
By TradeRadius | 1 Hours Ago
High housing costs hitting record highs, Harvard University report says
Economists predict mortgage rates will remain elevated for the rest of the year and will only begin to fall once the Federal Reserve starts cutting rates. The high cost of housing is making it hard for many Americans to make ends meet, and monthly rents are rising faster than wages, according t...
By TradeRadius | 2 Hours Ago
Custom duty reduction impact: How gold prices may perform in near future
Government has slashed customs duties on gold and silver by 6 percent. The basic customs duty has been reduced to 5 percent from 10 percent, and the Agriculture Infrastructure and Development Cess lowered to 1 percent from 5 percent. This decision will effectively bring down the overall taxes...
By TradeRadius | 2 Hours Ago
Job losses, protests present difficulties for Chinese Communist Party
Job losses and wage cuts from China's economic downturn are hitting key industries, according to the South China Morning Post, and analysts say the situation could lead to political difficulties for the ruling Chinese Communist Party (CCP).
By TradeRadius | 3 Hours Ago
Subscribe to get news