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AUD/USD Analysis: Bulls looking to seize control amid sustained USD selling, 0.7815 holds the keyANALYSIS |
5/26/2021 6:11:54 AM GMT
AUD/USD gained strong traction on Wednesday and built on this week’s positive move.
Dovish Fed expectations, sliding US bond yields continued undermining the greenback.
The risk-on mood further benefitted the perceived riskier aussie and remained supportive.
Following the previous day s two-way/directionless price moves, the AUD/USD pair caught some fresh bids on Wednesday and built on this week s bounce from the vicinity of the 0.7700 mark. The momentum pushed the pair to one-week tops, with bulls now awaiting sustained move beyond the 0.7800 round-figure mark amid sustained US dollar selling bias. Worries about runaway inflation receded after various FOMC officials reiterated that any spike in prices is more likely to be temporary. The transitory inflation narrative convinced invest
May 26, 2021 00:31 GMTFXStreet News
XAU/USD is posting strong gains following Monday’s choppy session.
A daily close above $1,900 could open the door for additional gains.
10-year US Treasury bond yield is losing more than 2% on the day.
Update: Gold (XAU/USD) bulls catch a breather around $1,900, recently easing to $1,898.72, following a notable rise to refresh multi-day high, during the initial Asian session on Wednesday. The slump in the US dollar index (DXY) and the US 10-year Treasury yield, respectively to fresh lows since January and late April in that order, seem to have propelled the gold price rally the previous day. Also on the same side could be the market’s indecision over the reflation risk and tapering concerns even as the US Federal Reserve (Fed) officials tried to placate pessimism. Additionally, mixed data and cautious sentiment ahead of Friday’s US Core Personal Consumption Expenditure – Price Index, the Fed’s preferred gauge of inflation, also contri
5/25/2021 8:25:56 AM GMT | By Haresh Menghani
Sustained USD selling bias pushed GBP/USD higher for the second straight session on Tuesday.
Dovish Fed expectations, sliding US bond yields, the risk-on mood all weighed on the greenback.
The lack of follow-through buying warrants some caution before placing aggressive bullish bets.
The GBP/USD pair spiked to fresh daily tops during the early European session, albeit struggled to find acceptance above the 1.4200 mark and quickly retreated around 30-35 pips in the last hour. The pair was last seen trading near the 1.4175-80 region, still up nearly 0.20% for the day.
The pair built on the previous day s goodish intraday rebound from the vicinity of the 1.4100 mark and gained strong follow-through traction on Tuesday amid sustained US dollar selling bias. The White House pared down the infrastructure bill to $1.7 trillion from $2.25 trillion and eased fears about runaway inflation in the US.