XAU/USD Wedge Breakout and Retest! Market News in Description!!
#xauusd
Gold had a strong bearish engulfing followed by a trend breakout during non farm payroll that saw gold plummit. Now following a breakout of a smaller wedge and retest we could see gold drop again to the next key level.
Here's a summary of some of the key factors that have been impacting the US dollar (USD) and gold (XAU) over the past few days:
US Dollar:
- The US dollar has been impacted by recent economic data releases, including inflation and retail sales figures, which showed an increase in both metrics.
- The USD has been influenced by comments from Federal Reserve officials, with some suggesting that the central bank may start to taper its asset purchases in the coming months.
- The USD has been affected by global risk sentiment, with a decline in global stock markets and a rise in safe-haven currencies such as the USD causing it to appreciate against other currencies.
Gold:
- Gold (XAU) has been impacted by recent economic data releases, including inflation and retail sales figures, which showed an increase in both metrics.
- The price of gold has been influenced by comments from Federal Reserve officials, with some suggesting that the central bank may start to taper its asset purchases in the coming months.
- Gold has been affected by global risk sentiment, with a decline in global stock markets causing a rise in demand for safe-haven assets such as gold, causing its price to appreciate.
It's important to keep in mind that these are just some of the key factors that have been impacting the USD and XAU in recent days, and there may be other events and information that have not been covered here.
Gold had a strong bearish engulfing followed by a trend breakout during non farm payroll that saw gold plummit. Now following a breakout of a smaller wedge and retest we could see gold drop again to the next key level.
Here's a summary of some of the key factors that have been impacting the US dollar (USD) and gold (XAU) over the past few days:
US Dollar:
- The US dollar has been impacted by recent economic data releases, including inflation and retail sales figures, which showed an increase in both metrics.
- The USD has been influenced by comments from Federal Reserve officials, with some suggesting that the central bank may start to taper its asset purchases in the coming months.
- The USD has been affected by global risk sentiment, with a decline in global stock markets and a rise in safe-haven currencies such as the USD causing it to appreciate against other currencies.
Gold:
- Gold (XAU) has been impacted by recent economic data releases, including inflation and retail sales figures, which showed an increase in both metrics.
- The price of gold has been influenced by comments from Federal Reserve officials, with some suggesting that the central bank may start to taper its asset purchases in the coming months.
- Gold has been affected by global risk sentiment, with a decline in global stock markets causing a rise in demand for safe-haven assets such as gold, causing its price to appreciate.
It's important to keep in mind that these are just some of the key factors that have been impacting the USD and XAU in recent days, and there may be other events and information that have not been covered here.
