Dear Client,

Please note that the dividends of the following products will be adjusted accordingly. Index dividends will be executed separately through a balance statement directly to your trading account, and the comment will be in the following format “Div & Product Name & Net Volume ”.

Please refer to the table below for more details:

The above data is for reference only, please refer to the MT4/MT5 software for specific data.

If you’d like more information, please don’t hesitate to contact [email protected].

The S&P 500 experienced a 0.3% decline driven by concerns over rising Treasury yields and upcoming remarks from Federal Reserve Chairman Jerome Powell. The decline was also impacted by a drop in banking and retail shares. The Dow Jones Industrial Average followed suit, slipping by 0.5% to 34,288.83, while the Nasdaq Composite managed a small gain at 13,505.87. Notably, Nvidia’s stock dipped 2.9%, offsetting an earlier increase.

Bank ratings adjustments and challenging operating conditions caused several banks, both regional and larger, to witness declines. Consequently, the financial sector saw a 0.9% drop, making it the day’s poorest-performing sector within the S&P 500. Major banks like KeyCorp, Comerica, and JPMorgan Chase faced declines of 4.1% and 2.1% respectively. Meanwhile, Dick’s Sporting Goods and Macy’s tumbled by 24% and 14%, leading to a downward trajectory for the SPDR S&P Retail ETF. Nike also recorded over a 1% slide, marking its ninth successive daily loss. Wall Street’s attention has been on the bond market, particularly the 10-year Treasury yield, which reached its highest point since 2007 during the week. The yield dipped slightly to 4.33% on Tuesday.

Market analysts anticipate a continued market pullback. They point to the influence of climbing yields and a cautious consumer sentiment as drivers of this trend. Investors are eagerly awaiting Federal Reserve Chairman Jerome Powell’s speech at the Jackson Hole economic symposium on Friday, which is expected to provide insights into the central bank’s future monetary policy decisions.

Data by Bloomberg

On Tuesday, most sectors experienced a slight decline, with the overall market slipping by 0.28%. The Real Estate sector managed a 0.28% gain, while Utilities and Communication Services saw increases of 0.26% and 0.18% respectively. On the positive side, Consumer Discretionary showed a marginal uptick of 0.09%. However, several sectors faced losses, including Energy and Financials, which saw declines of 0.77% and 0.88% respectively. The Consumer Staples sector had the largest drop at 0.53%, followed by Health Care at 0.37%, Information Technology at 0.24%, and Industrials at 0.20%.

Major Pair Movement

The dollar index exhibited a 0.24% increase, led by a 0.36% decline in EUR/USD, pushing the euro close to breaking its pivotal lows from July. The possibility of this break is tied to Federal Reserve Chair Jerome Powell’s upcoming speech at Jackson Hole and the potential for its content to align with statements from Richmond Fed President Barkin. Despite a temporary alleviation from recent events that might have contributed to the Treasury yield’s retreat from post-GFC highs, the 2-year bund-Treasury yield spreads hit new lows for 2023. This shift coincided with the Treasury curve inverting further due to the attraction of high 10-year yields and short-covering. Barkin’s comments, which deviated from his generally dovish stance, introduced the risk that Powell could emphasize relative U.S. economic strength and the importance of achieving the Fed’s 2% inflation mandate.

The uncertainty centers on the potential length of elevated interest rates by the Fed and the implications for inflation. The conversation also includes evaluating the impact of China’s economic challenges. Jens Eskelund, President of [unspecified institution], weighed in on these matters. Despite the Fed’s stance based on strong economic growth and a tight labor market, both S&P and Moody’s have expressed concerns, leading to a market prediction of almost 100 basis points of Fed rate cuts next year, coinciding with one of the most rapid rate increases in decades. The USD/JPY pair dropped by 0.25%, reflecting a retreat in Treasury yields, while sterling faced a 0.13% decline due to factors including the dollar’s broader rebound from Barkin’s comments and an equities pullback. USD/CNH saw a 0.22% rise, in contrast to USD/CNY’s 0.09% gain. The focus now shifts to the global PMIs scheduled for Wednesday and Powell’s upcoming presentation on Friday.

Picks of the Day Analysis

EUR/USD (4 Hours)

EUR/USD Hits Mid-June Lows Amidst Dollar’s Strength and Economic Concerns

The EUR/USD currency pair experienced a significant drop, marking its lowest daily close since mid-June. The decline came after a brief two-day recovery, highlighting the persistent pressure on the pair driven by a strong US Dollar. The Eurozone’s current account surplus of €35.8 billion in June, attributed to reduced imports due to lower energy prices, is juxtaposed against expectations of a slight dip in the August PMI composite index. The Eurozone’s economic concerns are further fueled by a cautious market atmosphere, contrasting the robustness of the US economy. As the US Dollar Index (DXY) surged above 103.50 and US Treasury yields rose, data from the US housing market added to the narrative. Attention now turns to the forthcoming Jackson Hole Symposium, where addresses by Federal Reserve Chair Powell and European Central Bank President Lagarde are eagerly anticipated.

Chart EURUSD by TradingView

According to technical analysis, the EUR/USD moved lower on Tuesday and managed to reach the lower band of the Bollinger Bands. Currently, the price is slightly above the lower band of the Bollinger Bands. The Relative Strength Index (RSI) currently stands at 39, indicating that the EUR/USD is currently back in a bearish mode.

Resistance: 1.0935, 1.1038

Support: 1.0837, 1.0789

XAU/USD (4 Hours)

XAU/USD‘s Volatile Rally Amidst Dollar’s Rebound and Market Uncertainty

The XAU/USD currency pair experienced a fluctuating rally, surging to $1,904.44 in London trading before reversing due to renewed US Dollar demand, prompted by S&P Global Ratings’ downgrade of US bank ratings following a similar move by Moody’s. Equities maintained a bullish tone as Wall Street and European indexes held onto gains despite retracements from intraday highs, and XAU/USD recovered from its low of $1,889.12. The Dollar’s performance was influenced by rising government bond yields, with the 10-year Treasury note hitting 4.366% and the 2-year note reaching 5.01%. Market unease prevailed ahead of the Jackson Hole Symposium, where speeches by US Federal Reserve Chair Jerome Powell and European Central Bank President Christine Lagarde are anticipated.

Chart XAUUSD by TradingView

Based on technical analysis, the XAU/USD moved higher on Tuesday and was able to reach the upper band of the Bollinger Bands. Currently, the price is moving just below the upper band of the Bollinger Bands. The Relative Strength Index (RSI) is currently at 55, indicating that the XAU/USD pair is now in a neutral stance with a slight bull mode.

Resistance: $1,907, $1,916

Support: $1,896, $1,885

Economic Data

Dear Client,

Please note that the dividends of the following products will be adjusted accordingly. Index dividends will be executed separately through a balance statement directly to your trading account, and the comment will be in the following format “Div & Product Name & Net Volume ”.

Please refer to the table below for more details:

The above data is for reference only, please refer to the MT4/MT5 software for specific data.

If you’d like more information, please don’t hesitate to contact [email protected].

U.S. stock futures held steady after a month marked by losses across major indices, as the Nasdaq Composite and S&P 500 finally halted their four-day negative streak. Futures tied to the Dow Jones Industrial Average dipped slightly by 0.1%, while S&P 500 and Nasdaq 100 futures also saw marginal declines of the same magnitude. During the main trading session, the Nasdaq Composite posted its most significant gain of the month, surging by 1.6%, and the S&P 500 recorded a nearly 0.7% increase. Impressively, these advances occurred even as the 10-year Treasury yield reached its highest level since November 2007, climbing by around 9 basis points to 4.34%. This simultaneous rise of tech-heavy stocks and yields drew attention in Wall Street, where the historically challenging relationship between tech shares and higher interest rates was defied. Despite the current optimism, analysts remain cautious, highlighting potential vulnerabilities associated with the recent Treasury yield surge, including impacts on refinancing and concerns for tech and growth stocks with high price-to-earnings ratios.

Looking ahead, market watchers await crucial corporate earnings releases from prominent retail giants Lowe’s and Macy’s, as well as Nvidia, a significant tech gainer that plays a pivotal role in gauging sentiment within the AI sector. Economic data releases, such as the Philadelphia Fed’s nonmanufacturing survey, Richmond Fed’s manufacturing survey results, and July’s existing home sales data, will also be scrutinized for insights into the health of the economy. Additionally, all eyes are on Fed Chairman Jerome Powell’s forthcoming remarks at Jackson Hole, expected to provide further clarity on the central bank’s perspective regarding inflation trends. This context underscores the delicate balancing act investors face as they assess the interplay between market performance, interest rates, and economic indicators in the months ahead.

Data by Bloomberg

On Monday, the overall market displayed a positive trend with all sectors collectively gaining 0.69%. The Information Technology sector led the way with an impressive surge of 2.26%, followed by Consumer Discretionary at 1.15% and Communication Services at 0.80%. Health Care experienced a marginal uptick of 0.09%, while Materials and Financials saw minimal gains of 0.02% and -0.09% respectively. On the other hand, Industrials and Utilities witnessed slight declines of -0.14% and -0.60%, while Energy, Consumer Staples, and Real Estate faced more substantial decreases, sliding by -0.62%, -0.64%, and -0.88% respectively.

Major Pair Movement

On Monday, the US Dollar faced a slight decline as major currency pairs remained relatively stable due to a lack of significant macroeconomic events. Market sentiment stayed negative, causing government bond yields to rise. The US Treasury yield reached its highest point since 2007, reflecting concerns that global central banks might extend monetary tightening measures to control inflation.

China continued to face challenges, with reports showing a continued decline in government land sales revenue for the 19th consecutive month in July. The People’s Bank of China (PBoC) made a minor expected adjustment by reducing the one-year Loan Prime Rate by 10 basis points to 3.45%. However, this fell short of more aggressive expectations, causing the Yuan to weaken. UBS also lowered China’s 2023 real GDP growth forecast from 5.2% to 4.8%.

The German Bundesbank’s monthly report indicated that inflation might persist above central bank targets for a while, while Q3 growth is predicted to remain largely flat.

Currency pairs displayed varied trends: EUR/USD struggled to surpass 1.0900, GBP/USD appeared better positioned for gains at around 1.2740, the Australian Dollar gained against the US Dollar alongside rising Gold prices, and USD/CAD rose due to decreased oil prices impacting the Canadian Dollar.

USD/JPY traded above 146.00 and near its recent high of 146.53, with growing speculation that the Bank of Japan might need to adjust its ultra-loose monetary policy soon.

The upcoming week’s macroeconomic calendar had limited offerings, with attention turning to the Jackson Hole Symposium starting next Thursday. Federal Reserve Chair Jerome Powell and European Central Bank President Christine Lagarde were scheduled to speak on Friday, raising anticipation for potential hints about future policy decisions.

Picks of the Day Analysis

EUR/USD (4 Hours)

EUR/USD Holds Near 1.0900 Amid USD Struggles and Chinese Woes

The EUR/USD pair remains steady around 1.0900 as the US Dollar faces challenges despite a sour mood. Asian stocks dip due to ongoing Chinese real estate concerns, while the People’s Bank of China (PBoC) cuts rates as expected, impacting the Yuan. Global bond yields rise, led by the US 10-year Treasury note hitting a 2007 high. Germany sees mixed economic news, with Producer Price Index (PPI) decline but Bundesbank’s caution on inflation. Upcoming data includes Euro Zone’s June Current Account and US July Existing Home Sales and August Richmond Fed Manufacturing Index, alongside insights from Fed officials.

Chart EURUSD by TradingView

According to technical analysis, the EUR/USD moved higher on Monday and managed to reach the upper band of the Bollinger Bands. Currently, the price is slightly below the upper band of the Bollinger Bands. The Relative Strength Index (RSI) currently stands at 51, indicating that the EUR/USD is currently back in a neutral stance.

Resistance: 1.0935, 1.1038

Support: 1.0865, 1.0789

XAU/USD (4 Hours)

XAU/USD Recovers Briefly as USD Strengthens Amid Economic Uncertainties

Spot Gold hit a low of $1,884.77 on Monday before recovering slightly as XAU/USD responded to reduced US Dollar demand, eventually stabilizing around $1,890. The USD rebounded due to a deteriorating market sentiment, causing US indexes to dip and government bond yields, including the 10-year Treasury note, to surge to their highest levels since 2007, with the 2-year note nearing 5%. Growing concerns about a potential economic setback persist as global central banks remain cautious about ending the ongoing monetary tightening cycle, and worries intensify due to China’s currency struggles and limited action. The macroeconomic calendar offers little this week, heightening anticipation for insights from Federal Reserve Chair Jerome Powell and European Central Bank President Christine Lagarde at the Jackson Hole Symposium on Friday, as investors seek guidance on future directions.

Chart XAUUSD by TradingView

Based on technical analysis, the XAU/USD moved higher on Monday and was able to move near the upper band of the Bollinger Bands. Currently, the price is moving just below the upper band of the Bollinger Bands. The Relative Strength Index (RSI) is currently at 48, indicating that the XAU/USD pair is now in a neutral stance.

Resistance: $1,899, $1,912

Support: $1,892, $1,885

With horror movie franchise The Nun returning to the big screens, here’s something that might come as a genuine shocker: Sister Irene’s world of gothic scares is the perfect backdrop for learning how to navigate the topsy-turvy world of the financial markets.

If the thought of bear markets and red candlesticks sends chills running down your spine, here are some invaluable lessons that The Nun II can teach you about navigating fear and the psychology of trading.

Strap in.

Navigating the Unknown 

H.P. Lovecraft famously said that the oldest and strongest kind of fear is that of the unknown. This concept is precisely what horror movies like The Nun and The Nun II capitalise on. In these films—a nun, steadfast and resolute in her beliefs—is abruptly thrown into a realm of unfamiliarity, left to contend with malevolent spirits and demons.

Similarly to Sister Irene and Father Burke, traders are familiar with navigating through unfamiliar and daunting territories. In fact, it’s one of the first lessons most of us learn: the future can’t be predicted with any certainty. 

However, if there is one thing that unites horror movies and the world of trading, it is the fact that scary things hidden in the shadows are (relatively) far less scary when brought into the light.

Much like blood-curdling jump scares only work when you can’t see what’s coming, the most terrifying things for a trader only exist when they decide to trade in the dark. In the absence of knowledge and research, all manner of catastrophe could potentially arise. While often repeated to the point of cliche, it’s a truism that certainly bears repeating: do your due diligence!

Embracing Fear as Catalyst 

Within a landscape frequently dominated by fear, traders would be wise to draw inspiration from Sister Irene. Under incredible amounts of stress and duress in the first The Nun movie, Sister Irene nonetheless responded to her fears with an equal amount of grit and courage. In doing so, she was able to overcome the demon Valak where a multitude of others failed.

In the same way, managing emotions can help traders channel negative reactions into positive actions. This is a crucial first step to mastering trading psychology and ultimately building the right mindset to handle the ups and downs that come with trading.

While fear can admittedly be overwhelming, acknowledging and managing its existence can be transformative. In fact, it can empower individuals to overcome both literal challenges and metaphorical demons. Just as characters in horror movies harness fear’s power to fuel their journey, so too can traders leverage fear’s energy to navigate the uncertain terrain of trading with purpose and poise.

Discovering Opportunities in Chaos 

In the world of trading, things often don’t go as planned. Similar to what happens in horror movies, these moments can be the scariest and most confusing. But just like in those movies, these tough times can surprisingly bring the most interesting chances for growth and success.

In The Nun, Sister Irene faces a chaotic moment when she realises that her fellow nuns aren’t real and that Sister Victoria made a sacrifice to stop Valak from taking over her body. Even though this was one of Sister Irene’s lowest moments, it also gave her the idea to use Sister Victoria’s vial with the Blood of Christ to close the rift that Valak was using to escape. This moment showed how even the hardest times can lead to the biggest opportunities.

Traders should see losses and difficult situations in a similar way. Maybe a loss can help you notice something you need to fix in your trading strategies. Perhaps the loss could push you to find better investment options. Whatever the case may be, by learning from setbacks and using them as stepping stones, you can build the resilience needed to thrive in the trading world.

Being Comfortable With Fear 

The fear of the unknown—of making the wrong decisions—is something that traders experience on a day-to-day basis. Much like the demon Valak, the uncertainty of making a critical trading mistake lurks around every corner, leaving traders dripping with anxiety.

Nonetheless, just like the movie characters who find themselves thrown into the midst of scary circumstances, traders will eventually have to accept that fear is part and parcel of their own reality.

Rather than trying to will charts to move upwards indefinitely, the most realistic way to navigate an unpredictable market might be to implement a sound strategy and trust it to pay off over the long term.

The next time you encounter news or major events that threaten to throw everything into chaos, remember to take a deep breath, keep a cool head, and allow rational decision-making to guide you from the darkness into the light.

Banish your inner demons and bring your mental A-game to your next trading session. Open your live VT Markets account here and seize the opportunities that await.

Dear Client,

Please note that the dividends of the following products will be adjusted accordingly. Index dividends will be executed separately through a balance statement directly to your trading account, and the comment will be in the following format “Div & Product Name & Net Volume ”.

Please refer to the table below for more details:

The above data is for reference only, please refer to the MT4/MT5 software for specific data.

If you’d like more information, please don’t hesitate to contact [email protected].

This week, key economic players such as Germany, the UK, and the US will publish their flash manufacturing PMI and flash services PMI figures. These releases have the potential to impact market volatility. We advise traders to stay cautious and keep an eye on the latest updates.

Here are some notable highlights for the week:

Flash Manufacturing PMI for Germany, the UK, and the US (23 August 2023)

Germany’s manufacturing PMI declined from 40.6 in June 2023 to 38.8 in July 2023, marking deteriorating business conditions within the country’s manufacturing sector. This figure for July is also the lowest reading since May 2020.

Meanwhile, the UK’s manufacturing PMI for the same period fell from 46.5 to 45.3. In contrast, the US’ manufacturing PMI for the same period increased from 46.3 to 49.

The next set of data will be released on 23 August. Analysts predicted manufacturing PMIs are 38.6 for Germany, 46.2 for the UK, and 49.5 for the US.

Flash Services PMI for Germany, the UK, and the US (23 August 2023) 

Germany’s services PMI declined from 54.1 in June 2023 to 52.3 in July 2023, indicating the slowest growth in five months. Similarly, the UK’s services PMI declined from 53.7 to 51.5 during this period, making July the third consecutive month of slowing activity across the country’s service sector. Finally, the US’ services PMI also fell from 54.4 to 52.3 during the same period. 

Analysts’ predicted services PMIs for August 2023 are as follows: Germany at 51.5, the UK at 53, and the US at 52.

Germany’s Ifo Business Climate Index (25 August 2023)

Germany’s Ifo Business Climate Index fell for the third consecutive month in July 2023, indicating pessimistic expectations for the coming months. The July figure of 87.3 is also the lowest level since November 2022. 

The figure for August 2023 will be released on 25 August, with analysts expecting a reading of 86.9.

Jackson Hole Economic Symposium (25–27 August 2023) 

The Jackson Hole Economic Symposium is an annual symposium that focuses on key economic issues affecting the world.

Its participants include prominent financial figures and leading market players from all around the globe. Proceedings from the symposium might hence have an impact on market sentiment and movements.

Dear Client,

Please note that the dividends of the following products will be adjusted accordingly. Index dividends will be executed separately through a balance statement directly to your trading account, and the comment will be in the following format “Div & Product Name & Net Volume ”.

Please refer to the table below for more details:

The above data is for reference only, please refer to the MT4/MT5 software for specific data.

If you’d like more information, please don’t hesitate to contact [email protected].

The stock market endured its third consecutive session of decline as investors grappled with the latest earnings reports and economic indicators, compounded by a surge in interest rates to new highs. The Dow Jones Industrial Average experienced a notable drop of 290.91 points, or 0.84%, marking its first close below the 50-day moving average since early June. This downturn raised concerns about a potential downtrend. Similarly, the S&P 500 and Nasdaq Composite also faced losses of 0.77% and 1.17%, respectively, exacerbating the market’s unease.

The unsettling trend was exacerbated by the 10-year U.S. Treasury yield’s climb to levels unseen since October 2022. The rise in rates followed the Federal Reserve’s release of minutes from its July meeting, which highlighted lingering concerns about the risk of inflation surging upward. The market witnessed a mix of outcomes among major companies, with retail giant Walmart’s stock dipping over 2%, despite exceeding expectations for earnings, revenue, and revised annual projections. Conversely, computer networking company Cisco Systems bucked the trend, gaining more than 3% thanks to its better-than-anticipated quarterly earnings report. As the market faced a turbulent August, characterized by losses and a broad index slump of over 4%, analysts like Chris Fasciano from Commonwealth Financial Network acknowledged the pullback as a potentially healthy recalibration after an earlier robust rally.

While some respite was found in the form of lower jobless claims and a positive uptick in the Philadelphia Federal Reserve’s manufacturing index for August, the overarching narrative remained one of caution and uncertainty as investors navigated through the intricate interplay of earnings releases, economic data, and interest rate fluctuations.

Data by Bloomberg

On Thursday, the stock market witnessed a mixed performance across various sectors. Energy saw a notable gain of +1.11%, while materials experienced a slight decline of -0.18%. The utilities and financial sectors also dipped, with losses of -0.33% and -0.50% respectively. Communication services and real estate faced setbacks of -0.59% and -0.75%, while health care and industrials both saw decreases of -0.76% and -0.84%. The information technology sector experienced a larger drop of -0.96%, while consumer staples and consumer discretionary sectors recorded more significant declines of -1.01% and -1.58% respectively.

Major Pair Movement

Amidst risk aversion and rising Treasury yields, the US Dollar surged across the board during the American session. The Dow Jones index faced a third consecutive day of losses, sliding by 0.85% and registering its lowest close in a month. Concerns about China’s economic prospects combined with expectations of prolonged higher interest rates contributed to market unease.

US Treasury yields displayed a mixed performance, with the 10-year yield hitting 4.32%, its highest since 2007, before retracting, while the 30-year yield rose to 4.42%, its peak since 2011. The US Dollar Index ended the day steady at 103.40 after briefly touching two-month highs at 103.59.

US Initial Jobless Claims dropped to 239,000 for the week ending August 12, surpassing expectations. However, Continuing Jobless Claims increased to 1.716 million in the week ending August 5, reaching their highest point in four weeks. The Philadelphia Fed Manufacturing Survey provided a positive surprise by climbing from -13.5 to 12.

Looking forward, attention shifted to the upcoming Jackson Hole Symposium, as Friday’s US releases were not anticipated to be top-tier. The EUR/USD initially rose before declining during American trading hours, marking a six-week low. The Japanese Yen recovered ground despite rising government bond yields, benefiting from equity market declines and a slight US Dollar slowdown. GBP/USD experienced significant gains but failed to hold above the 20-day Simple Moving Average, while the Australian jobs report impacted the Aussie’s performance. USD/CAD continued its upward trajectory, and NZD/USD fell before slightly recovering from its lows.

Picks of the Day Analysis

EUR/USD (4 Hours)

EUR/USD Extends Losses Amidst Dollar Strength and Market Caution

During the American session, the EUR/USD currency pair faced its fifth consecutive day of decline, shifting into negative territory. The US Dollar maintained its robust stance, benefiting from risk aversion and higher Treasury yields. Initially rising to approximately 1.0920, the pair later weakened, settling around the 1.0860 range.

The Euro’s initial surge in the American session gave way to a reversal, driven by the diminishing yield difference between US and German bonds, which exerted downward pressure on the EUR/USD. Furthermore, a drop in equity values amplified demand for the US Dollar. Looking ahead, Eurostat is set to release the final July Consumer Price Index, expected to hold no significant surprises with an annual rate of 5.3%. Additionally, Construction Output data for June will also be reported.

The prevailing narrative continues to favor the US Dollar, supported by recent US economic indicators and a climate of general market caution. As such, any potential recoveries in the EUR/USD are likely to be restricted until a shift in market sentiment occurs.

Chart EURUSD by TradingView

Based on technical analysis, the EUR/USD moves lower on Thursday, creating a push for the lower band of the Bollinger Bands. Currently, the price is moving around the middle band of the Bollinger Bands. The Relative Strength Index (RSI) presently stands at 44, signifying that the EUR/USD is currently in a bearish sentiment with a potential to goes back to neutral stance.

Resistance: 1.0935, 1.1038

Support: 1.0865, 1.0789

XAU/USD (4 Hours)

XAU/USD Hits Lowest Levels Since March Amid Gloomy Market Mood and Central Bank Concerns

Gold prices are facing downward pressure, falling to their lowest since March and hovering around the $1,890 mark, as a somber market sentiment persists. The risk-averse stance among investors was triggered by the US Federal Reserve’s recent release of the August meeting minutes, revealing apprehensions regarding inflation risks and potential for further rate hikes. This uncertainty extends beyond the Fed, with the Bank of England hinting at prolonged rate hikes and the Reserve Bank of New Zealand considering potential increases in the future. Amid these central bank concerns, gold’s value remains under strain.

Chart XAUUSD by TradingView

Based on technical analysis, the XAU/USD witnessed a slight decrease on Thursday, the price managed to create a push for the lower band of the Bollinger Bands during this movement. Currently, the price is moving near the middle band of the Bollinger Bands. The Relative Strength Index (RSI) is currently at 39, indicating that the XAU/USD pair is exhibiting a somewhat bearish sentiment.

Resistance: $1,899, $1,912

Support: $1,892, $1,885

Dear Client,

Please note that the dividends of the following products will be adjusted accordingly. Index dividends will be executed separately through a balance statement directly to your trading account, and the comment will be in the following format “Div & Product Name & Net Volume ”.

Please refer to the table below for more details:

The above data is for reference only, please refer to the MT4/MT5 software for specific data.

If you’d like more information, please don’t hesitate to contact [email protected].