Fundamental

Whether Gold prices climb toward a $5,000 breakout or face a hard rejection partly hinges on the upcoming March Consumer Price Index (CPI) report due on Friday. 

GBP/USD is testing the key 1.35 resistance zone, where a rejection tied to higher US yields could trigger another short-term move back toward 1.34.

Gold remains at a crossroads in Friday’s Asian trades, trying to find a clear direction as markets remain cautiously optimistic ahead of the US inflation report and the US-Iran peace negotiations.

The Aussie Dollar’s continuous rebound seems to have strengthened in the last few days, giving bulls back control and paving the way for AUD/USD to perhaps test the upper end of its annual range sooner rather than later.

Spot Gold shows some signs of life on Thursday, after temporarily reviving buyers’ enthusiasm on war headlines. The XAU/USD pair topped $4,857 after United States (US) President Donald Trump announced a two-week ceasefire in the Middle East war, claiming diplomatic talks were underway.

Market players gear up for the release of the United States March inflation data, which will very likely bring bad news for the Fed. Higher inflation due to the Oil shock, coupled with a rapidly slowing economy, could put the central bank in a tough spot. Fasten your seatbelts.