EURUSD attempting full recovery
The Euro (EURUSD) advances, hitting another high as the dollar remains on the back foot.
- This week’s income and spending data will be another indication of how healthy the U.S economy is.
- Consumer confidence from Germany could also lift the euro higher, if figures move away from negative territory.
- All eyes will be on Friday’s Fed speech for clues on whether they will adjust their monetary policy.
- The pair is on its way towards 1.1760 with 1.1580 as a fresh support.
XAUUSD on the rise
The recent weakness in the US Dollar provides more support for the yellow metal as prices hit another peak.
- Another swing at the recent high meant prices broke past 4600.
- Momentum has shifted towards the gold market as traders remain cautious about whether the bull run will continue.
- The ongoing geopolitical fallout and economic uncertainty could boost gold even further.
- The price is bouncing towards 4700, with 4520 a critical support.
NAS 100 falling from record highs
Indices edged lower as the ongoing Middle Eastern conflict weighs heavily on energy prices.
- Adding to the concern, recession fears linger as the current U.S.-Canada trade talks collapsed.
- The Nasdaq looks to break free of the back-to-back weekly losses.
- The focus will now shift to this week’s tariff talks and how aggressively Canada will retaliate.
- The index will look to test the 28500 support, with 30250 the target higher.
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