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What happened last week During the previous week, there was a significant decline in the value of gold, a precious metal that is often perceived as a safe-haven choice during times of economic uncertainty. Gold prices experienced significant fluctuations last week. Despite holding up against a hawkish Federal Reserve outlook, the precious metal suffered heavy…

GOLD (XAUUSD) Forecast The US Federal Reserve meeting last week was a hot topic, and it lived up to expectations. The Fed changed its approach by updating its projections and reducing the expected rate cuts for 2024 from 100 to 50 basis points. Additionally, the Fed improved its growth estimates and expressed confidence in the…

The US dollar took center stage during the past week, after the release of mixed US Consumer Price Index (CPI) figures, which set the stage for an intriguing sequence of events, later in the week, the Producer Price Index (PPI) and retail sales data were released. These reports not only reinforced the prevailing narrative of…

EURUSD forecast Over the past several weeks, the EURUSD currency pair has exhibited a strong and consistent bearish trend, starting from its peak in mid-July. This prolonged downward movement has caused the pair to trade well below its crucial 200-day Simple Moving Average (SMA), indicating sustained selling pressure. As we look ahead to the upcoming…

NFP Data Release Summary In a week marked by optimistic shifts, The overall mood of the market has improved significantly, mainly influenced by the latest non-farm payroll data. Last Friday’s report revealed a net increase of only 187,000, a figure lower than anticipated earlier in the week, indicating a cooling off of the US economy….