Gold Price Approaches 200-Day SMA for First Time Since February
2021-05-10 14:00:00
David Song,
Strategist
Gold Price Talking Points
The price of gold extends the series of higher highs and lows from the previous week even though the 10-Year US Treasury yield retraces the decline following the US Non-Farm Payrolls (NFP) report, and looming developments in the Relative Strength Index (RSI) may indicate higher gold prices if the oscillator breaks above 70 and pushes into overbought territory.
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Gold Price Approaches 200-Day SMA for First Time Since February
The price of gold appears to be on track to test the 200-Day SMA ($1851) for the first time since February after establishing a double-bottom formation in March, and the precious metal may continue to recoup the losses from the start of the year as long as longer-dated US Treasury yields remain under pressure.
Market Insights Podcast (Episode 194)
May 10, 2021SharePrint
Jonny Hart speaks to APAC Senior Market Analyst Jeffrey Halley about the week ahead. In this weeks episode, we look back at the head-scratching US Non-Farm Payrolls data, and how markets have interpreted it. A quick glance across Asia’s markets, including the impressive price action in commodities. We take a look at the British Pounds rally today after the Scottish elections and what they mean for the United Kingdom. Finally, we revisit our old friend Dogecoin and cryptos and Elon Musk after a rollercoaster weekend. Jonny finally manages to talk Jeff down from his Crypto soapbox as the podcast ends to take a look at the week ahead and what to watch out for.
Thursday s Close Shave, Troubling New Highs and Lows, Peloton Kicks Into Gear The market came within whiskers of a technical breakdown on Thursday, yet few people seem to know or care.
May 07, 2021 | 07:28 AM EDT
The timing of that late surge of demand across financial markets on Thursday was absolutely extraordinary. In this very column, 24 hours ago, I touched on the fact that the Nasdaq Composite had been put in the position of defending its own 50 day SMA (simple moving average) for a couple days. I went on to illustrate how Cathie Wood s ARK Innovation ETF (ARKK) had similarly spent days feeling around for support at the fund s 200-day SMA. All of this was ahead of Friday morning s expected release of April data for job creation and the entire employment situation.
May 7, 2021 07:36 GMTFXStreet News
USD/CHF defensive near 0.9070 in the early European session.
A softer US dollar prompts recent gains in the pair.
Swiss employment and US NFP eyed.
The USD/CAD pair seems vulnerable to the downside, as it holds onto the multi-month lows near 0.9070 in the early European session. The depreciative move in the greenback held responsible for the pair’s muted performance.
At the time of writing, USD/CAD is trading at 0.9073, up 0.04% on the day.
The US dollar index (DXY), which tracks the movement of the USD against its rivals, pauses the downward slide near 90.80 after tracking recent traction in US Treasury yields with gains of 0.44% on Friday ahead of the US Non Farm Payrolls Data (NFP).
NFP and Forex: What is NFP and How to Trade It?
2021-05-07 10:30:00
David Bradfield,
Markets Writer
NFP and Forex Trading: MAIN TALKING POINTS
Non-Farm Payrolls (NFP) releases create volatility in the forex market.
NFP measures net changes in employment jobs.
Forex traders use an economic calendar to prepare for NFP releases.
What is the NFP?
The non-farm payroll (NFP) figure is a key economic indicator for the United States economy. It represents the number of jobs added, excluding farm employees, government employees, private household employees and employees of nonprofit organizations.
NFP releases generally cause large movements in the forex market. The NFP data is normally released on the first Friday of every month at 8:30 AM ET. This article will explain the role NFPs play in economics and how to apply NFP release data to a forex trading strategy.