Home/Commodities/FX/Technical analysis/Videos

Gold – Is the USD Driven Rally Stalling? (Video)

Share Print 0

Gold has been on a decent run since last Wednesday, spurred on by the profit taking we’ve seen in the US dollar after the Federal Reserve raised interest rates while maintaining its outlook for the next couple of years. This move was viewed by traders as a dovish hike which was fully priced in and therefore triggered the correction in USD.

While the correlation between USD and Gold did weaken throughout February, it would appear the perceived reduction of the political risk environment has strengthened the relationship once again. The question now is whether the small resurgence we saw in USD this morning can be sustained and take the edge of Gold’s run since the Fed meeting.

Senior Market Analyst Craig Erlam discusses all of this and gives his analysis on the daily, 4-hour, 1-hour and 15 minute charts.

USD/CAD – Canadian Dollar Edges Higher as Wholesales Sales Sparkle

GBPUSD – Article 50 Announcement Hits Sterling

Oil Settles Into A Range For Now.

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.

Craig Erlam

Craig Erlam

Former Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary.

His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News.

Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
, , , , , , , , , , , , , ,
Back to Top