Gold price edges higher for the second consecutive day on Friday. Weak employment data bolstered the speculation that the weakening economy would force
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O preço do ouro amplia sua vantagem apesar do discurso hawkish do Fed
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Gold price edges higher for the second consecutive day on Friday.
Weak employment data bolstered the speculation that the weakening economy would force the Fed to cut rates.
The hawkish Fed talks could create bearish headwinds for gold.
Gold price (XAU/USD) gains momentum on Friday despite the modest rebound in US Dollar (USD). The yellow metal edges higher as many economists expect a weakening labor market could prompt the Federal Reserve (Fed) to cut interest rates sooner than currently expected to stimulate economic growth. Furthermore, the renewed geopolitical concerns are likely to be a positive factor for golds value on the market.
However, the hawkish US Fed talks on the interest rate, and the stronger US dollar (USD) might weigh on gold prices. Gold traders will keep an eye on the first reading of the US Michigan Consumer Sentiment Index for May, along with the speeches from the Feds Bowman, Goolsbee, and Barr. Next week, the US Consumer Price Index (CPI) report will be in the spotlight.
Daily Digest Market Movers: Gold price holds positive ground amid Feds hawkish remarks
San Francisco Fed President Mary Daly said that uncertainty over the inflation outlook makes policy projections difficult until the Fed gets more clarity.
The US Initial Jobless Claims for the week ended May 4 rose to 231K from the previous week of 209K, higher than the market consensus of 210K. This figure registered the highest level since August 2023, signaling the labor market was cooling.
Coupled with Aprils downbeat US Nonfarm Payrolls (NFP) of 175,000 new jobs. These reports paint a picture of a cooling US economy.
Israeli forces massed tanks and opened fire close to built-up areas of Rafah on Thursday after President Joe Biden said the US would withhold weapons from Israel if its forces mounted a major invasion of the southern Gaza city.
The rise in global gold demand was mainly driven by strong over-the-counter market investment, persistent central bank purchasing, and growing demand from Asian buyers, according to the WGCs report.
The preliminary US University of Michigan Consumer Sentiment Index is expected to drop in May from 77.2 in April to 76.0.
Technical Analysis: Gold prices uptrend remains intact
The gold price trades on a positive note on the day. The yellow metal keeps the bullish vibe unchanged as it holds above the key 100-day Exponential Moving Average (EMA) on the daily timeframe.
In the near term, XAU/USD breaks above a descending trend channel that formed in mid-April, with the 14-day Relative Strength Index (RSI) standing in bullish territory around 67.50, which supports the buyers for the time being.
If gold bulls step in at the $2,400 psychological mark, then yellow metal could see a rally to an all-time high near $2,432, en route to the $2,500 figure. On the flip side, the first downside target will emerge at the resistance-turned-support level at $2,340. Extended losses for gold price expose XAU/USD to a potential support level at the $2,300 round mark, followed by a low of May 2 at $2,281.
Preço do dólar americano esta semana
A tabela abaixo mostra a variação percentual do dólar americano (USD) em relação às principais moedas listadas nesta semana. O dólar americano foi o mais fraco em relação ao dólar neozelandês.
USD | EUR | GBP | CAD | AUD | JPY | NZD | CHF | |
USD | -0.18% | 0.19% | -0.03% | 0.03% | 1.40% | -0.24% | 0.08% | |
EUR | 0.17% | 0.36% | 0.15% | 0.19% | 1.56% | -0.07% | 0.25% | |
GBP | -0.20% | -0.37% | -0.22% | -0.16% | 1.20% | -0.43% | -0.14% | |
CAD | 0.03% | -0.15% | 0.21% | 0.05% | 1.44% | -0.22% | 0.11% | |
AUD | -0.03% | -0.21% | 0.16% | -0.05% | 1.37% | -0.27% | 0.02% | |
JPY | -1.43% | -1.59% | -1.21% | -1.44% | -1.37% | -1.62% | -1.34% | |
NZD | 0.23% | 0.05% | 0.42% | 0.21% | 0.26% | 1.63% | 0.31% | |
CHF | -0.06% | -0.25% | 0.13% | -0.08% | -0.03% | 1.34% | -0.30% |
O mapa de calor mostra as variações percentuais das principais moedas umas contra as outras. A moeda base é selecionada na coluna da esquerda, enquanto a moeda de cotação é selecionada na linha superior. Por exemplo, se você escolher o Euro na coluna da esquerda e mover ao longo da linha horizontal para o Iene Japonês, a variação percentual exibida na caixa representará EUR (base)/JPY (cotação).
Isenção de responsabilidade:
Os pontos de vista expressos neste artigo representam a opinião pessoal do autor e não constituem conselhos de investimento da plataforma. A plataforma não garante a veracidade, completude ou actualidade da informação contida neste artigo e não é responsável por quaisquer perdas resultantes da utilização ou confiança na informação contida neste artigo.
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