Asian Open Wall Street Powers On Gold Bugs Set to Return
Wall Street hit new highs and bond yields fell as investors took comfort from the US inflation report, which was above (but not wildly beyond) expectations.
Share this:
U.S. Dollar is taking advantage of reports that U.S. Trade Representative Robert Lighthizer and Chinese Vice Premier Liu He will communicate on trade deal progress next week, which tends to give some relief in the Trade War. Later today, traders will have a close look at U.S. Jobs Report for April. It is widely expected that the economy cut a record 21.653 million Nonfarm Payrolls with the jobless rate surging to 16.0%.
From a technical point of view, on a daily chart, Dollar Index is searching for a trend as it stands between two trend lines and is trading around its 50-day moving average (in blue). The daily RSI stands around its neutrality area. Readers may therefore consider the potential for further advance in case of a break above April top at 101.00 which would lead to March high at 103.00. The nearest support would be set at Mar. 30 bottom at 98.30. A break below this threshold would lead to further weakness towards horizontal support at 97.40.
Source: TradingView, GAIN Capital
U.S. Dollar is taking advantage of reports that U.S. Trade Representative Robert Lighthizer and Chinese Vice Premier Liu He will communicate on trade deal progress next week, which tends to give some relief in the Trade War. Later today, traders will have a close look at U.S. Jobs Report for April. It is widely expected that the economy cut a record 21.653 million Nonfarm Payrolls with the jobless rate surging to 16.0%.
From a technical point of view, on a daily chart, Dollar Index is searching for a trend as it stands between two trend lines and is trading around its 50-day moving average (in blue). The daily RSI stands around its neutrality area. Readers may therefore consider the potential for further advance in case of a break above April top at 101.00 which would lead to March high at 103.00. The nearest support would be set at Mar. 30 bottom at 98.30. A break below this threshold would lead to further weakness towards horizontal support at 97.40.
Source: TradingView, GAIN Capital
Related tags:
The complete CFD trading experience
Award-winning platforms, competitive spreads, low commissions and dedicated support.
We live and breathe the markets and are dedicated to helping traders realise their ambitions as we continue to set the industry bar.
Economic calendar
Web Trader platform
Our sophisticated web-based platform is packed with features.
Related articles
Japanese Yen Forecast: USD/JPY 4% Rally Challenges Post-Intervention Downtrend 9 24 2026
USD/JPY momentum has shifted sharply higher, putting a major resistance confluence in focus as U.S. and Japanese event risk builds.
Oil Quietly Hands the Fed a Reason to Stay Hawkish
Oil prices and the U.S. dollar are both on the front foot as elevated energy costs feed Fed warnings that inflation may prove sticky.
S&P 500 forecast: Stocks extend drop as correction risks grow
US and global equity markets have extended Wednesday’s sell-off, with Wall Street opening lower after a weak handover from Asia and Europe. The deterioration in risk appetite has been spreading across global markets. The dollar was firmer, Treasury yields were holding onto yesterday’s gains, while gold, silver and bitcoin were all under pressure alongside equities and major currencies.
StoneX Europe Ltd may make third party material available on this website which may contain information included but not limited to the conditions of financial markets. The material is for information purposes only and does not contain, and should not be construed as containing, investment advice and/or investment recommendation and/or an investment research and/or an offer of or solicitation for any transactions in financial instruments; any decision to enter into a specific transaction shall be made by the client following an assessment by him/her of their situation.
StoneX Europe Ltd makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or other information supplied. You should always seek independent advice as to your suitability to speculate in any related markets and your ability to assume the associated risks, if you are at all unsure. We are not under any obligation to update any such material. Any opinion made may be personal to the author and may not reflect the opinion of StoneX Europe Ltd.