Analyzes

The US Dollar’s (USD) upward momentum from the previous week seems to have encountered a tough nut to crack in the 98.00 region, as measured by the US Dollar Index (DXY).

EUR/USD is still struggling to find real traction. The pair has tried to stabilise, but momentum keeps fading, leaving the door open to further weakness.

The Pound Sterling (GBP) entered a bearish consolidation phase against the US Dollar (USD), after having tested critical support near the 1.3450 level on several occasions.

Gold (XAU/USD) gained traction and climbed above $5,200, ending the fourth consecutive week in positive territory. The next round of US-Iran talks and crucial macroeconomic data releases from the US will be watched closely by market participants in the short term.

Few major commodities have displayed the kind of price volatility Palladium has since 2020. After a wild ride, boom and bust included, the price of the metal approaches a key area that will help determine its medium- and long-term outlook. Fasten your seatbelts.   

USD/CAD is struggling to clear the 1.37–1.3750 resistance zone, with a breakout targeting the 200-day EMA near 1.3832 while 1.3550 and 1.35 mark key support below.