XAUUSD pushing higher
The recent drive in XAUUSD indicates that buyers are still in the market.
- As global tensions remain heightened, XAUUSD remains sought-after as a precious metal and safe-haven asset.
- With over $100 added to the value of XAUUSD in the previous session, gold looks to reclaim another high.
- The ongoing geopolitical fallout and recession fears could boost safe-haven flows into XAUUSD even further.
- XAUUSD is bouncing towards 4500, with 4260 a key support.
EURUSD remains bearish
The Euro attempts to stop the rot as the EURUSD pair found some support after collapsing for most of last week.
- With last week’s rate hike, EURUSD prices are trying to recoup the 200-pip loss.
- Limited fundamentals this week mean that all eyes will be on Thursday’s Trump/Xi summit.
- Trade, investment and technology will be the key factors that could drive the dollar forward.
- The EURUSD pair is hoping to test 1.1600 with 1.1430 as fresh support.
NAS 100 no slowing down
US Indices and most global stocks remain bullish as the NAS 100 bounced away from the 29000 region.
- That wasn’t the only good news for bulls, as the S&P and the Dow also moved higher.
- The focus now shifts to how aggressive the Fed will be in its next meeting, as another rate hike is expected by 2027.
- The NAS 100 is shifting towards 30000, and 28800 is the first support.
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