FxAnalysis

Gold (XAU/USD) registered weekly losses, pressured by persistent uncertainty surrounding the Middle East conflict and hawkish guidance from major central banks.

USD/CHF dipped sharply before bouncing off the 0.7825 support level, with analysts favoring long positions on dips as the wide interest rate differential and an eventual Swiss franc weakening support a bullish longer-term outlook.

Gold (XAU/USD) meets with a fresh supply on Friday and slides back below the $4,600 mark during the early European session, eroding a part of the previous day’s modest recovery gains.

USD/CAD remains range-bound between 1.35 and 1.3750 as easing US 10-year yields weigh on the dollar, with crude oil and tight rate differentials keeping the pair in a consolidation pattern short-term.

EUR/AUD extends its downtrend as RBA rate hikes, commodity strength, and Europe’s energy concerns keep selling pressure elevated, with traders eyeing rallies to fade and a critical breakdown level at 1.61.

The British pound rallied above 1.35 after the Bank of England meeting, with bulls targeting the 1.36–1.37 range, though US bond yields and Middle East geopolitical tensions are likely to keep gains in check short-term.