FxAnalysis

Gold is licking its wounds in Friday’s Asian trades, languishing close to two-week lows, as sellers stay hopeful of clinching the biggest weekly loss in six weeks.

The Aussie Dollar ‘s recovery appears to have met some resistance, with the upside momentum in AUD/USD struggling to surpass the 0.7000 threshold in a convincing fashion for now. In the meantime, the pair’s constructive outlook remains unchanged while above its critical 200-day SMA around 0.6880.

The US Dollar (USD) changed course after a two-day losing streak and trades firmly higher against most major rivals on Thursday. Persistent tensions in the Middle East, as a result, XAU/USD pierced the $4,000 mark and established a fresh weekly low of $3,974.

Gold is replicating the depreciation seen in Wednesday’s Asian trades, turning negative once again, while heading toward the $4,000 threshold early Thursday.

The Bank of Canada (BoC) held its policy rate at 2.25% on Wednesday and published a Monetary Policy Report (MPR) whose entire disinflation path rests on one assumption: Brent falls to $75 and stays there.

FXStreet’s co-CEO Pere Monguió interviews Vitaly Bulinin, CEO of Versus Trade, to unpack the transformative shifts sweeping the forex markets and the profound impact of AI on trading.