News

Gold to alleviate downside pressure above $1755/65 - Credit Suisse

FXStreet reports that according to strategists at Credit Suisse, gold (XAU/USD) needs to hold below the $1755/65 neighborhood to maintain its immediate downside bias.

“Gold has retested and again held key support at $1682/71 – the 38.2% retracement of the entire 2015/2020 bull market and the recent and June 2020 lows. Resistance at $1755/65 needs to cap to suggest this is just a temporary hold ahead of an eventual break in due course, with support then seen next at $1620/15 and ultimately the ‘measured top objective’ and 50% retracement at $1564/61.”

“Above $1765, the yellow metal would see a near-term base established for a deeper recovery to $1855/75, but with a fresh cap looked for here.”

You may also be interested:

15:08 21.04.2021

European session review: USD appreciates on risk aversion

TimeCountryEventPeriodPrevious valueForecastActual06:00United KingdomProducer Price Index - Output (YoY) March0.9%1.7%1.9%06:00United KingdomProducer Price Index - Input (MoM)March0.9%0.6%1.3%06:00United KingdomProducer Price Index - Input (YoY) March3.3%4.4%5.9%06:00United KingdomProducer Price Index - Output (MoM)March0.7%0.3%0.5%06:00United KingdomRetail Price Index, m/mMarch0.5%0.3%0.3%06:00United KingdomHICP ex EFAT, Y/YMarch0.9% 1.1%06:00United KingdomRetail prices, Y/YMarch1.4%1.6%1

14:43 21.04.2021

Palladium to run out of steam ahead all-time highs at 2878 - Commerzbank

FXStreet reports that Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, notes that palladium’s new high has not been confirmed by the daily RSI and this reflects a loss of upside momentum ahead of the all-time high at 2878.04.“Palladium is approaching the 2020 peak and all-time high at 2878.04. The high so far has been 2848. While it is underpinned by the 20-day ma at 2680, we cannot rule out further upside attempts. However, we note that the new high has not been confirmed

14:19 21.04.2021

U.S. weekly mortgage applications jump 8.6 percent

U.S. weekly mortgage applications jump 8.6 percentThe Mortgage Bankers Association (MBA) reported on Wednesday the mortgage application volume in the U.S. surged 8.6 percent in the week ended April 16, following a 3.7 percent drop in the previous week. This was the first increase in seven weeks and the strongest advance since early January. According to the report, refinance applications surged 10.4 percent, while applications to purchase a home rose 5.7 percent. Meanwhile, the average