Gold (XAU/USD) attracted some dip buyers near the $2,689 region during the Asian session on Monday (20/1) and for now, seems to have stalled its retracement slide from one-month tops touched last week. The US dollar (USD) started the new week on a weaker note and eroded part of Friday's positive move amid bets that the Federal Reserve (Fed) will cut interest rates twice this year amid signs of easing inflation in the US. This, coupled with uncertainty over US President-elect Donald Trump's tariff plans, lifted the safe-haven precious metal back above the $2,700 mark in the last...
The USD/CHF pair moved lower near 0.9130 during the Asian trading hours on Monday (1/20), pressured by a weaker US Dollar (USD). Cautious market sentiment ahead of the inauguration of President Donald Trump provided some support to the safe-haven flows, which benefited the Swiss Franc (CHF). Technically, USD/CHF maintains the current bullish sentiment as the price is well supported above the 100-day Exponential Moving Average (EMA) on the daily chart. Moreover, the upside momentum is supported by the 14-day Relative Strength Index (RSI), which is located above the midline near 60.50,...
The Australian Dollar (AUD) halted its two-day losing streak against the US Dollar (USD) on Monday (1/20), receiving support from rising metal prices. However, the upside in the AUD/USD pair may remain limited as the US Dollar (USD) could strengthen amid market caution ahead of President-elect Donald Trump's inauguration later in the day. US markets will remain closed on Monday for the Martin Luther King Jr. holiday. The People's Bank of China (PBOC) announced on Monday that it will keep the Loan Prime Rate (LPR) unchanged. The one-year Loan Prime Rate (LPR) remains at 3.10%, while the...