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📊 Key data releases from the US and the #Eurozone will keep #investors on edge this week, while #ChineseNewYear limits activity in Asian markets.
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📈 #XAUUSD surged to its highest since October 31, driven by China’s stimulus news and concerns over trade wars and #geopolitical tensions.
Despite a stronger $USD and mixed #market sentiment, gold #buyers remained focused on the rally.
🏦 This week, markets will closely watch the Bank of Japan's monetary policy meeting, UK employment data, and January’s preliminary economic readings.
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📈 #XAUUSD pauses near the key $2,710-20 resistance, but is set for a third straight weekly gain. Buyers focus on mixed US data, a softer $USD, stronger China statistics, and mixed risk news ahead of Trump’s inauguration on Monday.
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However, #gold’s safe-haven appeal, coupled with hopes for more stimulus from China and the People’s Bank of China’s increase in gold reserves, is providing some #support and preventing further #price declines.
#investment#MarketNews 🗞️
#XAUUSD remains under pressure, holding below the previous day's break of a month-old support line, which now acts as immediate resistance. The precious metal is weighed down by the hawkish #Fed stance and concerns about #China’s economic outlook.
#BTCUSD hits a fresh all-time high near $106.5K, testing a three-week-old resistance 🚀
Meanwhile, #ETHUSD struggles for upward momentum despite #bullish factors like Ukraine’s plan to legalize #crypto by 2025, strong ETF inflows, and Trump-backed World Liberty Financial (WLFI).
Hawkish concerns about the #FederalReserve in 2025 and ongoing issues in #China are limiting further gains for the precious metal.
#XAUUSD may pull back to support levels around $2,670 and $2,653 on a stronger $USD, but a downtrend is unlikely unless it drops below $2,627.
#forextrading#goldprice 🗞️
#XAUUSD prices are struggling to extend their 3-day winning streak, despite hitting a 2-week high. The retreat is likely due to a stronger $USD and consolidation ahead of the US #Inflation data.
🔈 This week picks up steam with key events, including #RBA Interest Rate Decision, US #CPI , and monetary policy announcements from the #ECB.
⏰ Don't miss out on #trading opportunities. Save this post to stay informed. Time: GMT, #MetaTrader server time.