Analyzes

Looking at the weekly chart, the US Dollar (USD) has traded in a choppier, more volatile fashion, struggling to build on the strong gains seen the previous week.

The EUR/USD pair finished a second consecutive week a handful of pips above the 1.1500 level, seesawing between gains and losses in line with United States (US) President Donald Trump’s rhetoric on the Middle East war.

Another bearish week for the British Pound led to the second consecutive weekly retracement for GBP/USD, which was primarily driven by geopolitical concerns rather than domestic issues, while market participants currently do not expect the Bank of England (BoE) to resume interest rate cuts this year

Gold (XAU/USD) gathered bullish momentum and climbed to a fresh two-week high, but erased a large portion of its gains in the second half of the week.

The US Dollar (USD) gave away part of its previous gains and ended the week in the red, always amid increasing uncertainty surrounding the geopolitical landscape in the Middle East coupled with the equally vacillating message from the White House.

USD/CHF rallied to the key 0.80 level and 200-day EMA Thursday as spiking US rates and a 0% Swiss franc yield made for an easy carry trade, with a break above Tuesday’s high needed to confirm a sustained bullish move toward higher ground.