1.16 Analysis of Gold and Foreign Exchange Trends
Gold fluctuated upwards yesterday, hitting the 2700 mark, and the current exchange rate is trading around 2697. The continued weakness of the US dollar index, suppressed by weak economic data reigniting expectations of the Federal Reserve's March interest rate cut, is the main reason supporting the rise of gold. In addition, the decline in US Treasury yields has also provided some support for gold. However, the easing of geopolitical tensions has limited the upward potential of gold. Today, pay attention to the pressure situation around 2710, with support below around 2680.
The USD/JPY fluctuated downwards yesterday, hitting a 20 day low, and the current exchange rate is trading around 155.80. In addition to profit taking and technical selling near the 158.00 level, the weakening of the US dollar index also exerted some pressure on the exchange rate. In addition, the speech delivered by the Governor of the Bank of Japan during the period reignited the Bank of Japan's expectation of interest rate hikes, which also exerted some pressure on the exchange rate. Today, pay attention to the pressure situation around 156.50, with support below around 155.00.
The USD/CAD fluctuated downwards yesterday, with a slight decline in the daily chart. The current exchange rate is trading around 1.4350. In addition to the weakening of the US dollar index due to weak economic data reigniting expectations of the Federal Reserve's March interest rate cut, Canada's well performing economic data during the period also exerted some pressure on the exchange rate. In addition, the rise in crude oil prices has also exerted some pressure on the exchange rate. Today, pay attention to the pressure situation around 1.4450, with support below around 1.4250.
Tips：This page came from Internet, which is not standing for FXCUE opinions of this website.
Statement：Contact us if the content violates the law or your rights