Financial Markets Update

XAU/USD (GOLD):

Looking at the H4 chart, my overall bias for XAUUSD is bearish due to the current price being below the Ichimoku cloud, indicating a bearish market. To add confluence to this bias, price is also along a descending trendline.If this bearish momentum continues, expect the price to possibly continue heading towards the 1st support at 1782.920 where the overlap support intersects with the -61.8% Fibonacci expansion line.
In an alternative scenario, price could possibly head back up to retest the 1st resistance at 1824.515 where the overlap support is
Areas of consideration:

H4 time frame, 1st resistance at 1824.515

H4 time frame, 1st support at 1782.920

Global Markets:

Asian Stock Markets : Nikkei down 0.15%, Shanghai Composite down 0.05%, Hang Seng down 0.25%, ASX down 1.12%

Commodities : Gold at $1815.55 (-0.09%), Silver at $20.71 (-1.08%), Brent Oil at $82.60 (-0.27%), WTI Oil at $76.18 (-0.18%)

Rates : US 10-year yield at 3.945, UK 10-year yield at 3.779, Germany 10-year yield at 2.526

News & Data:

(USD) Revised UoM Consumer Sentiment 67 vs 66.4 expected

(USD) New Home Sales 670K vs 620K expected

(USD) Core PCE Price Index m/m 0.60% vs 0.40% expected

Gold (XAU)
Key news events today
No major news events.
We expect from Gold today
Gold traded down to the support level of 1810 on Friday as the DXY strengthened. Although the price retraced slightly to retest the 1815 price area, look for further downside on Gold, especially if the price breaks below the 1810 price level, with the next key support level at the round number price level of 1800.
Next 24 Hours Bias
Medium Bearish

CurdeOil
Key news events today
No Major News Events
We expect from Oil today
Energy traded slightly higher following the release of news that Russia plans on cutting oil exports to European and Atlantic buyers. However, while WTI and Brent traded higher, prices are likely to reverse and continue trading lower. Look for WTI to trade down to the 74.00 price level and for Brent to retest the near term support level of 80.00.
Next 24 Hours BiasWeak Bearish