Gold (XAU)
Key news events today
Unemployment Claims (12:30 pm GMT)
What can we expect from Gold today?
Unemployment claims surprised to the upside last week and another reading higher than this week’s forecast of 210k could potentially indicate that the US labour market is finally showing some signs of weakening. Higher-than-expected claims could function as a bearish catalyst for the DXY later today and thus provide a potential lift for gold.
Next 24 Hours Bias
Weak Bullish
Oil
Key news events today
No major news events.
What can we expect from Oil today?
Crude prices rebounded this morning as a ‘dovish’ FOMC meeting diminished the probability of more rate hikes by the Federal Reserve. Rising interest rates could dampen global economic growth and thus add downward pressure on oil prices. WTI oil found support around the $80.00 per barrel region and could edge higher today.
Next 24 Hours Bias
Weak Bullish