EUR/USD 1.15610
0.037%
Gold 4128.86
0.317%
Oil 59.723
-0.364%
USD/JPY 154.191
0.043%
GBP/USD 1.31689
-0.043%
GBP/JPY 203.058
0.012%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
November 11 - Local time on the 11th, the general election for the Iraqi National Assembly officially began, with voting lasting from 7:00 am to 6:00 pm.On November 11th, ING stated that among Asian high-yield currencies, the Indian rupee has the greatest appreciation potential next year. The bank pointed out that a trade agreement between India and the United States could drive a rebound in the rupee, which has significantly underperformed its peers this year. In a report dated November 10th, ING economists, including Deepali Bhargava, predicted that the Indian rupee would appreciate to 87 rupees to the US dollar by the end of 2026, an increase of approximately 2% from current levels. The bank believes that based on real effective exchange rate calculations, the rupee is currently trading below its fair value and is one of the Asian currencies with the greatest potential for appreciation. The economists stated, "If trade negotiations turn in a favorable direction, the Indian rupee could achieve a substantial reversal. India remains a top performer among high-yield economies: solid fundamentals, manageable fiscal risks, and continued investment attraction through supply chain diversification."November 11th - According to the Financial Times, two prominent think tanks and the German central bank recently issued warnings about the use of new German borrowing. Economists have accused Chancellor Merz of diverting billions of euros in new debt originally intended for defense and infrastructure investment to increase welfare spending and other recurring expenditures. The German central bank and two economic think tanks pointed out that a significant portion of the governments planned new borrowing may be used in areas that should be covered by the regular budget—including tax cuts and subsidies. After winning the federal election in February, Merz reached a landmark agreement with the Social Democratic Party and the Green Party, loosening constitutional borrowing restrictions on infrastructure and defense spending. The new rules open the door to up to €1 trillion in new investment in these two sectors over the next decade, which is expected to boost GDP growth that has stagnated for four years. Tobias Henze, an economist at the German Institute for Economic Research, said, "This budget trick could damage Germanys future competitiveness."S&P 500 futures turned lower, Nasdaq futures fell 0.14%, and Dow futures rose slightly by 0.06%.November 11th, Futures News: Economies.com analysts latest view: WTI crude oil futures prices fluctuated around the previous trading days intraday level. The market attempted to improve its performance after a bullish overlap signal appeared on the Relative Strength Index (RSI), indicating some positive support that may limit price movements in the short term.

Predictions for Gold Prices — Gold prices rose as the dollar weakened

Alina Haynes

May 24, 2022 09:43

Gold prices rise as the dollar weakens to start the week. The currency experienced negative pressure on reduced growth prospects and likely march toward recession. Benchmark rates climbed as shares surged today. Today, the yield on the ten-year Treasury note rose by 3 basis points.

 

On Monday, there was little going on in the world of business. Focus continues on Fed Chair Powell’s speech tomorrow and major economic statistics including PCI and first-quarter GDP published this week. Investors are anxious about impending recession and sluggish economic growth.

Analytical Methods

Gold prices came back from session highs but are still higher and possibly be headed to the 1860s. This week's economic statistics might point to a slowdown in economic growth, which would benefit gold.

 

To begin the week, gold prices held above the 200-day moving average of $1839. Support is indicated near the 200-day moving average near 1839. Resistance is apparent at the May 12th peak of 1858.

 

The Fast Stochastic has formed a crossover buy signal, indicating that the short-term momentum is bullish. Prices are no longer oversold as the fast stochastic prints a value of 54.58, considerably above the oversold trigger level of 20.

 

Medium-term momentum turns bullish as the MACD can provide a crossover buy signal. This occurs as the 12-day moving average minus the 26-day moving average passes below the 9-day moving average of the MACD line.

 

Price declines are predicted by the MACD (moving average convergence divergence) histogram, which shows a downward trend in price.

 

 image.png


Suggestion