Gold Forecast: Has XAU/USD Price Action Officially Bottomed?
2021-04-21 22:30:00
Rich Dvorak,
Analyst
GOLD PRICE OUTLOOK: XAU/USD PERKING UP AS REAL YIELDS WILT
Gold bulls push the precious metal to its highest level in eight-weeks
Gold outlook has improved largely thanks to a pullback in real yields
XAU/USD price action now challenges a key technical resistance zone
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Gold prices have been ripping higher recently since putting in a potential double-bottom pattern around $1,680/oz. In fact, the precious metal now trades at an eight-week high following a 7% climb off its 30 March swing low. A pullback in the US Dollar and real yields seem to be benefiting gold outlook and motivating the rebound being staged by XAU/USD price action.
Dow, Nasdaq, S&P 500 Sink with Biden to Pitch 43.4% Capital Gains Tax
2021-04-22 17:50:00
Rich Dvorak,
Analyst
STOCK MARKET OUTLOOK: DOW JONES, NASDAQ, S&P 500 UNDER PRESSURE ON THREAT OF HIGHER TAXES
The Dow, Nasdaq, and S&P 500 are sliding fast during afternoon trade due to tax fears
President Biden is reportedly set to propose a capital gains tax hike from 20% to 43.3%
Major stock indices like the Dow Jones, Nasdaq 100, and S&P 500 are turning broadly lower. Stocks seem to be getting hit in response to news that President Joe Biden will suggest hiking the US capital gains tax to 43.3% for wealthy individuals.
Bitcoin has struggled to regain altitude since BTC/USD price action plunged -10% this past weekend, and the cryptocurrency might remain under pressure below its 50-day moving average.
Crude Oil Price Outlook: Fresh Highs in Focus Post-Breakout
2021-04-15 22:15:00
Rich Dvorak,
Analyst
CRUDE OIL PRICES PUSH TOWARD YEAR-TO-DATE HIGHS FOLLOWING RANGE BREAK
Crude oil price action has surged 7% higher so far this week as bulls wrestle back control
Topside breakout above technical resistance opens the door to fresh year-to-date highs
Fundamental outlook for crude oil remains constructive and could propel the commodity
Crude oil bulls look to have regained control of price action after sending the commodity 7% higher so far this week. Oil prices now trade comfortably above prior resistance posed by the $62.00-handle with robust economic data likely helping fuel the move. This brings to focus potential for crude oil prices to continue its rebound back toward year-to-date highs.
US Dollar Outlook: DXY Index Tags 50-Day Simple Moving Average
2021-04-14 22:00:00
Rich Dvorak,
Analyst
US DOLLAR OUTLOOK: USD PRICE ACTION STILL UNDER PRESSURE, CAN BULLS DEFEND 50-DAY MOVING AVERAGE?
US Dollar edged another -0.2% lower on Wednesday gauging by the broader DXY Index
EUR/USD price action has climbed alongside ten-year Bund to Treasury yield spreads
Retail sales data due for release could drive currency volatility and US Dollar strength
The US Dollar weakened -0.2% on Wednesday and has now declined seven out of the last ten trading sessions. This stretch of US Dollar selling pressure, which seems to correspond with relatively subdued Treasury yield volatility, leaves the DXY Index down -1.7% on the month. US Dollar bulls might stage a rebound attempt, however, as nearside support provided by the 50-day simple moving average shows potential of spring-boarding the DXY Index back higher.