Market heading towards the important areas – Gold and Fx Analysis

Gold: Tumbled in the morning due to US Robust data

Gold has retested the support zone 1690 range today (Monday) after market opening.

Gold has retested the support zone 1690 range today Monday after market opening

Gold prices tumbled significantly in Morning itself from 1764 to 1681$. The reason behind this is US NFP Report was showed excellent robust numbers as an outcome as 943K vs 870K expected.

Gold prices tumbled significantly in Morning itself from 1764 to 1681

The unemployment rate in the US had shown 5.4%, which was 0.5% lower than 5.9% Previous.

Showing results were Robust healthier domestic data, and Goals of FED is shining in this data.

By Considering this, Investors think that FED will announce the tapering decision soon this month or next month meeting, Jackson Hole Symposium meeting will decide the Tapering soon.

US Dollar: Geopolitical issues and Domestic data of US

USDCAD is trying to break the resistance level in an uptrend range.

USDCAD is trying to break the resistance level in an uptrend range

USDJPY has bounced back from the higher low of major ascending channel and it has broken the top of the minor descending channel recently.

USDJPY has bounced back from the higher low of major ascending channel and it has broken the top of the minor descending channel recently

US Dollar index now near to 93 levels after 1% fall in last 2 weeks.

Now Senate is ready to pass the infrastructure bill of $1 trillion, and US Joe Biden gets the valid vote for passing a bill in Senate.

Now Senate is ready to pass the infrastructure bill of 1 trillion and US Joe Biden gets the valid vote for passing a bill in Senate

Moreover, North Korea rejected the closure of nuclear weapons, and China inflation rates make higher as Fears surround the market.

NFP data shows 943K versus 870K expected, and Unemployment rates show 5.4% versus 5.9% previous reading. Both Domestic data are the Goals of FED to achieve the targets, and soon tapering is possible by the end of 2021.

EURO: German economy sentiment outlook

EURUSD is trying to break the bottom level of the descending Triangle, wait for the confirmation of breakout.

EURUSD is trying to break the bottom level of the descending Triangle wait for the confirmation of breakout

ECB has no chance of Tightening of Monetary policy meeting in the near term. The unemployment rate fell to 7.7% from 7.9% previous.

Germany economic sentiment index has been scheduled this week to publish.

Wide Travel ban on tourists affected the Revenue and Still under dark pandemic conditions.

And ECB Members shows some potential to tightening monetary policies, but other members will do for Holding policy meeting required.

ECB Members shows some potential to tightening monetary policies but other members will do for Holding policy meeting required.

EURUSD made stronger support at 1.17 level if breaks the support then go for next support at 1.16500 has previous touched at last year.

Otherwise, 1.17-1.18 level as sideway support and resistance formed.

Germany economic sentiment index is expected to be 58.0, down from the 63.3 level.

ECB’s Weidmann speech to cut PEPP,APP and Rise interest rates

ECB’s Weidmann, the ECB council member, said ECB would cut the pandemic emergency programme earlier to solve hot inflation rates in the market.

The first ECB do for Cut the PEPP’s then to APP and at last rise in interest rates.

More inflation rates will hurt markets soon than Lower inflation rates.

All producer prices index get higher, and Demand supply mismatch makes markets go for higher prices in cost of Buying.

ECB is not taking care of Solvency for Problems.

UK POUND: UK PM Johnson political party fears and Post Brexit issues

GBPUSD has formed a flag pattern in an uptrend in the 1-hour timeframe chart.

GBPUSD has formed a flag pattern in an uptrend in the 1 hour timeframe chart
GBPJPY has broken the top of the descending channel, retested the broken level and starts to range now..

GBPJPY has broken the top of the descending channel retested the broken level and starts to range now.

UK PM Boris Johnson demoting Rishi sunk Finance chancellor of England.

As complaint rises from him that PM has not thought the Right direction path for the economy.

UK PM Boris Johnson demoting Rishi sunk Finance chancellor of England

Ex Brexit party leader Nigel Farage said Brussels and French would agree to the summit; otherwise, more lives will be lost, and British communities continue to suffer.

GBPUSD pair losses more on Friday as US Dollar gains more after NFP data is released.

More Brexit and Political uncertainty prevailing in the UK makes unhealthy prices of UK Pound versus US Dollar. Vaccinations are 70% done in the UK, and now Delta variant also decreasing 1/3 in cases.

Now all eyes for Domestic political party coalition and Post Brexit fears.

Japanese Yen: Lamda virus variant detected in Tokyo more severe than Delta Variant

CHFJPY is falling harder from the resistance zone.

CHFJPY is falling harder from the resistance zone

USDJPY makes a Gain of 0.50% on Friday after US Domestic data gives Fine reading of the Unemployment rate at 5.4% and NFP at 940K. This domestic data makes Investors cheers for Hopes of Tapering by the FED tool.

FED’s Goals are now eye for the Unemployment rate and Jobless claims.

US 10-year Treasury yield jumped 1.30% on Friday after Domestic data shows the robust outcome.

Japanese Yen suffered more losses as the Lamda virus is detected in the Tokyo region more severely than Delta Virus

Japanese Yen suffered more losses as the Lamda virus is detected in the Tokyo region more severely than Delta Virus. First detected in Peru in South America, now visible in Tokyo regions.

And now closer soon to the Ceremony of Olympic games by this month, The Japanese Government announced more tight lockdowns and Vaccinations to provide fast.

Australian Dollar: Delta variant rise in Victoria

AUDUSD is still consolidating at this specific price levels.

AUDUSD is still consolidating at this specific price levels

AUDNZD is falling towards the support area.

AUDNZD is falling towards the support area

Australian Dollar made lower as Friday NFP and Unemployment data of US Shows robust numbers.

The state of Victoria reported higher cases, and only 20% of the Population only Vaccinated.

AustraliaVictoria Doctors and nurses wearing full PPE test for covid19 at outdoor drive through covid testing site in Albert Park during fourth covid 19 lockdown

Lambda Virus was detected in Japan, and the First variant originated from Peru. Now Tokyo games were near to the closing ceremony, and anyhow the Country has full lockdown initiated.

And now the Australian Tourism board also closed for foreign travellers to visit, Delta Variant was a more significant rise in Victoria and New South Wales.

New Zealand Dollar: Hot Housing market

NZDUSD is consolidating between these support and resistance zone.

NZDUSD is consolidating between these support and resistance zone

New Zealand Dollar makes lower after reaching higher last week, and US Domestic data gives robust numbers is the main reason for Dropdown of New Zealand Dollar.

And another Key reason is Housing markets prices climbing higher day by day in New Zealand,

New Zealand Government is ready to take action by hiking interest rates soon by the end of 2021

And now Government is ready to take action by hiking interest rates soon by the end of 2021, and more tight rules are fixed for Loan sanctioning for new homes.

Housing prices peak at this time after interest rates gets lower in Government.

By considering this scenario Government has to plan to avoid Housing bubbles in the real estate market in New Zealand.

Swiss Franc: Swiss Unemployment data scheduled this week

USDCHF is standing now at the lower high zone of the descending channel range in the 4-hour timeframe chart.

USDCHF is standing now at the lower high zone of the descending channel range in the 4 hour timeframe chart.

The US Dollar index climbed to 92.70 level last Friday after NFP and unemployment data shows full numbers as Robust Growth.

The US Dollar index climbed to 92.70 level last Friday after NFP and unemployment data shows full numbers as Robust Growth

Swiss Franc made losses after US Dollar domestic data numbers shine very much on last week.

Now, this week Swiss Unemployment rate is scheduled, and weaker or stronger numbers will decide the market directions in the coming days.

Vaccinations are slower in Switzerland, and Domestic data performed Slightly lower than expected.

Due to this, USDCHF climbed higher on Friday after US data shows positive and the Swiss Franc gets negative tone.

 

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