Gold is trading low from Wednesday after FOMC statement, and traders are awaiting the US Q4 advance GDP release for a fresh direction. XAU/USD lost ground once again on Wednesday after the Fed left its key rates unchanged. Fed left their benchmark interest rate unchanged near zero as they flagged a moderating U.S. recovery and [...]
The already uptrend Aussie dollar extends its gains as the Australian Bureau of Statistics (ABS) reported better-than-expected fourth-quarter inflation figures. Australia's Consumer Price Index (CPI) rose 0.9% quarter-on-quarter in the fourth quarter, leaving behind the estimate of a 0.7% rise but it is down from the preceding quarter's 1.6% rise. In December, the ABS had [...]
Sterling is under pressure amidst fears of new coronavirus strain in the UK and lockdown restrictions. Prime Minister Boris Johnson warned on Friday that the new UK COVID-19 variant might be associated with a higher level of mortality. Also, the British government has extended lockdown laws to give councils the power to close pubs, restaurants, [...]
Yellow metal is seeing very little action on Monday, as the dollar index and US Treasury yields are consolidating. The dollar index, gold's biggest nemesis, is currently side lined near 90.22, and the 10-year US Treasury yield is hovering near 1.09% for the seventh straight day. Most of the analysts believe that the path of [...]
