XAUUSD looking for another high
As Gold (XAUUSD) breaks higher, the main concern is whether a turnaround is on the horizon.
- Last week’s Fed signal that another rate hike is likely has seen a shift in momentum.
- With the yellow metal making higher highs, prices could turn around with this week’s inflation data.
- 4085 is a major support, and 4300 is the hurdle to clear to confirm another milestone.
GBPUSD awaits GDP data
Sterling remains under modest pressure as prices attempt to regain the recent peak above 1.3300.
- Sellers are regaining control as focus shifts to this week’s inflation data.
- The pound also awaits important fundamentals, including GDP figures that could drive prices lower.
- Worsening job-market conditions could make it difficult for the pair to move higher.
- 1.3180 is a fresh support and 1.3300 the main resistance.
SPX 500 stocks keep on giving
Indices keep on pushing to fresh records as AI and tech stocks remain in the spotlight.
- The market seems to be very jumpy to any incoming data, as traders seem to ignore speculation of a crash.
- As the three leading indices continue to close in positive territory, all eyes will be on the upcoming earnings season.
- The index is hovering above 7650, with 7850 the resistance ahead.
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