Al ForeX

𝐅̲𝐎̲𝐑̲𝐄̲𝐗̲ 𝐍̲𝐄̲𝐖̲𝐒̲ 𝐃̲𝐀̲𝐈̲𝐋̲𝐘̲🎤📰👩🏽

𝐄𝐮𝐫𝐨 𝐇𝐨𝐥𝐝𝐬 𝐆𝐫𝐨𝐮𝐧𝐝 𝐟𝐨𝐫 𝐍𝐨𝐰 𝐛𝐮𝐭 𝐑𝐢𝐬𝐤𝐬 𝐒𝐰𝐢𝐫𝐥 𝐨𝐧 𝐁𝐢𝐝𝐞𝐧 𝐍𝐀𝐓𝐎 𝐕𝐢𝐬𝐢𝐭. 𝐖𝐢𝐥𝐥 𝐄𝐔𝐑/𝐔𝐒𝐃 𝐑𝐞𝐬𝐮𝐦𝐞 𝐋𝐨𝐰𝐞𝐫❓

🔴EURO, EUR/USD, CRUDE OIL, US DOLLAR, RUSSIA, PUTIN, BIDEN - TALKING POINTS
🎯Euro threatened by energy supply risks heightened ahead of a series of summits
🎯APAC equities, commodities and related currencies soften slightly in a quiet day
🎯All eyes on commentary around the Ukraine war.Will EUR/USD breakdown?

The Euro has continued to consolidate ahead of a series of meetings in the next 2 days.

US President Joe Biden has a busy day ahead with meetings at the NATO summit, EU Leaders summit and the G-7. Tomorrow he is expected to meet with the Polish President Andrzej Duda.

There could be significant “announcement risk” for markets in the coming sessions.

Currencies had a fairly quiet day in the Asian session with the US Dollar and the Japanese Yen the largest gainers. The commodity currencies of AUD, CAD and NZD gave up some ground.

Markets continue to re-align in the aftermath of a more hawkish Fed this week. The US session saw bond markets recover somewhat with yields going lower, while equities took a hit. In Asia today, bonds eased off and futures are pointing to a small uptick to start Wall Street

APAC equities were slightly down to varying degrees across the region, with the exception of Australia’s ASX 200. Commodity markets continue to underpin that index.

Japanese PMI came out stronger than expected. The manufacturing index printed at 53.2, rather 52.7 anticipated....

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Euro Holds Ground for Now but Risks Swirl on Biden NATO Visit. Will EUR/USD Resume Lower? The Euro has settled into a range ahead of US President Joe Biden’s visit at the NATO summit as geopolitical tensions dominate markets. Can EUR/USD hold on?

𝐅̲𝐎̲𝐑̲𝐄̲𝐗̲ 𝐍̲𝐄̲𝐖̲𝐒̲ 𝐃̲𝐀̲𝐈̲𝐋̲𝐘̲🎤📰👩🏽

𝐆𝐨𝐥𝐝 𝐏𝐫𝐢𝐜𝐞 (𝐗𝐀𝐔𝐔𝐒𝐃) 𝐎𝐮𝐭𝐥𝐨𝐨𝐤 𝐋𝐨𝐨𝐤𝐬 𝐂𝐚𝐩𝐩𝐞𝐝 𝐢𝐧 𝐓𝐡𝐞 𝐒𝐡𝐨𝐫𝐭-𝐓𝐞𝐫𝐦

🔴GOLD PRICE (XAU/USD), CHART, AND ANALYSIS
🎯Gold remains highly volatile going into the weekend.
🎯Gold is below the 20-day simple moving average.

The ongoing crisis in Ukraine continues to fuel volatility in the gold market with the 14-day Average True Range indicator underpinned at highs last seen 18 months ago. Talks between Russia and Ukraine continue but with little common ground seen so far, volatility is set to remain elevated in the near future leaving the price of gold vulnerable to further sharp swings. Traders need to factor in volatility levels before entering any trade, especially short-term traders with the weekend coming up.

Another technical indicator is now in play with gold seemingly stuck below the 20-day simple moving average for the first time in five weeks. Gold tested, and rejected, the 20-dsma yesterday around the $1,950/oz. and this looks likely to remain as a short-term price cap during today’s session...

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Gold Price (XAUUSD) Outlook Looks Capped in The Short-Term Gold’s price action is muted today, despite the high levels of volatility seen in the precious metal, with one simple moving average now acting as a short-term barrier to higher prices.