Market News - Gold, Oil & Forex

The EUR/USD pair is consolidating with a neutral bias, hovering near 1.1600 after finding support at 1.1575. Meanwhile, GBP/USD shows renewed bullish strength, climbing above 1.3450. Traders are watching for a decisive move above 1.1660 for the Euro.

Brent oil opened with a gap-lower and hit the lowest in more than two weeks on Monday ($96.88), driven by fresh wave of optimism about potential US-Iran peace deal, although key points of negotiations are still to be discussed. Fresh weakness broke through initial supports, provided by triangle support line / 55DMA ($103.99/$102.73 respectively), dipped […] The post Brent Gaps Lower and Falls Below $100, on Growing Optimism over US-Iran Peace Talks appeared first on ActionForex.

HSBC Asset Management spotlights Asia’s small-cap stocks as a strong performer over the past five years, outperforming regional large caps with lower volatility and better sector diversification.

Gold (XAU/USD) rebounds sharply on Monday as hopes for a US-Iran deal to end the war in the Middle East and reopen the Strait of Hormuz weigh on the US Dollar (USD) and Oil prices. At the time of writing, XAU/USD is trading around $4,556, up 1.0% on the day.

Intraday bias in EUR/USD remains neutral for the moment moment. On the upside, firm break of 1.1660 resistance will argue that fall from 1.1848 has completed as a correction at 1.1575. Intraday bias will be back on the upside for 1.1795 resistance first. On the downside, break of 1.1575 will solidify the case that rebound […] The post EUR/USD Daily Outlook appeared first on ActionForex.

EUR/USD began the week around 1.1600. The main currency pair closed last week virtually unchanged. Markets continue to closely monitor the situation in the Middle East. Despite ongoing uncertainty, a series of conflicting signals from the US and Iran has bolstered investor hopes for a possible diplomatic agreement. At the same time, oil prices remain […] The post EUR/USD Starts the Week Quietly appeared first on ActionForex.

AUD/NZD faces a significant risk of a sharp downturn as the Reserve Bank of New Zealand (RBNZ) is anticipated to maintain a hawkish stance, potentially diverging from the Reserve Bank of Australia's (RBA) outlook. Traders are watching for signals of persistent inflation concerns from the RBNZ.

The US Dollar Index has retreated as markets rally on news of potential US-Iran peace talks, while US consumer sentiment hits a record low amid rising energy prices.

The European Central Bank is signaling a potential June rate hike as inflation forecasts are expected to be revised higher, while the Reserve Bank of New Zealand faces a divided outlook with some advocating for an immediate tightening. The EURUSD and NZDUSD currency pairs are key to watch.

The EUR/USD pair has reclaimed the 1.1600 level, recovering from recent lows near 1.1575. However, a dense cluster of resistance and subdued momentum indicators suggest caution is warranted. Traders are watching closely to see if bulls can overcome key technical hurdles.