The British pound and the New Zealand dollar were the strongest currencies last week, while the Swiss franc, the US dollar, and the euro were the weakest. Volatility decreased markedly over this period, and next week may see even less volatility.
The euro initially pulled back during the course of the trading week, only for it to then turn around and show signs of life again. At this point in time, I think the 1.15 level is going to continue to be a major resistance barrier.
Gold price extended its record streak for the third time in the week as the Greenback weakened due to tensions between China and the US related to trade policies.
Gold price (XAU/USD) continues scaling new record highs heading into the European session on Wednesday, with bulls eyeing to conquer the $3,300 mark as trade-related uncertainties continue to boost demand for traditional safe-haven assets.
Gold price ended Tuesday’s session on a higher note due to traders buying the precious metals amid uncertainty over US President Donald Trump's tariff plans, which has kept market participants on edge.
Asian stocks continued to decline following Wall Street's downturn on Wednesday as President Donald Trump appeared poised to move forward with hefty 104% tariffs on Chinese products.
Gold price (XAU/USD) climbs further beyond the $3,000 psychological mark during the Asian session on Wednesday and retests the overnight swing high as concerns about a tariffs-driven global recession continue to underpin safe-haven assets.
Gold price snaps three days of losses, consolidates below the $3,000 figure as US Treasury yields rise, making the non-yielding metal less appealing for investors.
Stocks in Asia bounced back after suffering historic losses, with Japan at the forefront of the recovery due to positive sentiment about its potential prioritization in US trade talks.
The Japanese yen and the Swiss franc were the strongest major currencies last week, while Australian dollar was the weakest. Volatility increased markedly over this period, as more than 75% of Forex currency pairs changed in value by more than 1%.
