Page 50 - Simple Moving Average News Today

- The USD Index (DXY) clinched its third weekly gain in a row.

- Gold managed to bounce off multi-week lows near $2,000. - Further consolidation seems the name of the game so far.

Gold price (XAU/USD) ticks higher during the Asian session on Thursday and for now, seems to have snapped a two-day losing streak to over a one-month low touched the previous day.

The EUR/USD pair builds on the overnight bounce from the very important 200-day Simple Moving Average (SMA) support near the 1.0845 region and gains some positive traction for the second straight day on Thursday.

The Japanese Yen (JPY) is seen oscillating in a narrow band during the Asian session on Thursday and consolidating its recent heavy losses against the US Dollar (USD) registered since the beginning of this week.

US stocks saw broad-base declines on Wednesday after investors were forced to adjust their bets on rate cuts from the Federal Reserve (Fed) after US Retail Sales rose more than expected, implying the US domestic economy remains too strong for the US central bank to begin cutting their main reference rate as soon as investors are hoping for.

The Dow Jones Industrial Average (DJIA) traded lower for its third consecutive session on Wednesday.

Gold price is trying hard to find a floor just above $2,000 early Thursday, despite a broad US Dollar (USD) pullback and ongoing Middle East geopolitical tensions.

The EUR/USD pair builds on the overnight bounce from its lowest level since December 13, around the 1.0845 region, which coincides with the 200-day Simple Moving Average (SMA) and gains some follow-through traction on Thursday.

The US Dollar (USD) trades slightly higher in the aftermath of US Jobless Claims numbers that went from 203,000 to 187,000. The upbeat number got overshadowed with another contraction print for the Philadelphia Fed Manufacturing Survey