May 24, 2023 - Fundamental Reminder
On Tuesday, spot gold V-shaped rebounded, hitting an intraday low of 1954.28; however, due to the lack of progress in debt ceiling negotiations and data indicating that the U.S. manufacturing sector is back in contraction, gold prices reversed their intraday losses and eventually closed up 0.29% at $1975.09 per ounce.
May 23, 2023-MHM European Perspective
Spot gold weakened slightly during the Asian session on Tuesday (May 23), once losing the 1960 mark, which was a new low for the past two trading days.
May 23, 2023 - Fundamental Reminder
On Monday, under pressure from renewed optimism in debt ceiling negotiations and hawkish comments from Fed officials, spot gold retreated, falling below the 1,970 mark during the session and eventually closing down 0.24% at $1,971.
AUS Global: Celebrating Excellence – Best STP Forex Broker Award at the Forex Traders Summit Dubai 2023!
This prestigious event brought together industry professionals, enthusiasts, and potential clients under one roof. AUS GLOBAL’s dynamic presence at the summit showcased their commitment to excellence and innovation in the forex trading market.
Market exuberance takes DAX to a new record high
Markets in Europe have observed another day of strong gains after the Nikkei 225 closed at its highest levels since 1990 and finished the week higher by 4.8%.
Ichimoku Cloud Analysis 19.05.2023 (GBPUSD, XAUUSD, USDCHF)
GBPUSD is pushing off the support area. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Kijun-Sen line at 1.2460 is expected, followed by a decline to 1.2275. An additional signal confirming the decline will be a rebound from the upper border of the descending channel. The scenario can be cancelled by a breakout of the upper border of the Cloud, securing above 1.2595, which will mean further growth to 1.2685.
Forex Today: US Dollar holds firm despite improving risk appetite
The US Dollar Index (DXY) rose for the second consecutive week despite improving market sentiment. The debt ceiling drama is set to continue as the deadline approaches, and although there are hopes for a deal, it has not been reached yet. The banking sector remains in the spotlight, particularly after Treasury Secretary Yellen's comments on Friday. Next week, the market will get a glimpse of the performance of the global economy with the preliminary May PMI that will likely weigh on sentiment.
AUS Global: Celebrating Excellence – Best STP Forex Broker Award at the Forex Traders Summit Dubai 2023!
Discover the Highlights of AUS Global’s Memorable Participation.
Market Closure in May
Please refer to the following table for the changes in the trading hours during the month of May 2023.
May 22, 2023-MHM European Perspective
On Monday (May 22) , spot gold oscillated slightly lower during the Asian session and is currently trading near $1,975.77 per ounce. Although the impact of the Fed chairman's slightly dovish speech on Friday is still fermenting, the dollar and U.S. bond yields fell, gold prices rebounded sharply on
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05/22 Market report
【Dow Jones】 【Euro】 【Gold】 【Crude Oil】
May 22, 2023 - Fundamental Reminder
On Friday, as debt ceiling negotiations resumed at an impasse and Yellen's speech reignited market concerns about the stability of the banking sector; Meanwhile traders cut their bets on another Fed rate hike after Powell's slightly dovish speech, spot gold pulled up sharply during the U.S. session, eventually closing up 0.94% at $1,976.56 per ounce. Despite recovering some of this week's losses, it still recorded its worst one-week performance since February. Spot silver rose more than 2% at on
STARTRADER launched a financial seminar in India to promote international financial cooperation
On the 14th and 18th of this month, STARTRADER, one of the fastest growing traders in the world, successfully held a far-reaching financial seminar in India. STARTRADER invited old and new partners to participate together with the company CEO Peter Karsten, aiming to deepen the relationship with partners and enhance their understanding and trust in STARTRADER.
05/19 Market report
【Dow Jones】 【Euro】 【Gold】 【Crude Oil】
MHMarkets: Debuting at the Trading.Live Global Trading Summit, Connecting the Leading Forces of Global Traders
Recently, MHMarkets was invited to participate in the Global Trading Summit event organized by Trading.Live. As the world's first multilingual live financial learning community, Trading.Live provides a platform for traders to interact and exchange ideas. At the summit, MHMarkets showcased its superior technology and professionalism to exhibitors from around the world, winning widespread acclaim.
May 19, 2023-MHM European Perspective
On Thursday (May 18) , spot gold shocked slightly up during the Asian session , and is currently trading near $1962.79 per ounce. After the gold price fell sharply overnight, it demands short - term rebound adjustment. On the one hand, there is support around the 1950, on the other hand, geopolitica
May 19, 2023 - Fundamental Reminder
On Thursday, as the U.S. released more strong economic data further weakened market bets that the Federal Reserve may hold off on interest rate hikes, spot gold extended its decline, extending losses in the U.S. session and once plunged to $1952.01, which was a new low in a month and a half, plunging more than $30 from the daily high, and finally closed down 1.22% at $1957.55 per ounce. Spot silver fell by more than 1% during the day, eventually closing down 1.04% at $23.49 per ounce.
May 18, 2023-MHM European Perspective
On Thursday (May 18) , spot gold shock slightly down during the Asian session , and is currently trading near $1978.41 per ounce. Recent U.S. data is stronger than expected by the market, the Fed officials speak to the hawkish, the market on the Fed to cut interest rates during the year is expected to cool, the dollar index continued to rise, forming a pressure on gold prices; and the U.S. debt ceiling agreement is expected to heat up, the market risk aversion cooling, but also reduce the attrac
May 18, 2023 - Fundamental Reminder
On Wednesday, due to Biden's commitment to the debt ceiling, stronger-than-expected U.S. economic data and hawkish comments from some Fed officials, the dollar index was once up to the 103 mark, approaching a seven-week high, and finally closed up 0.24% at 102.85. The onshore and offshore yuan against the dollar both fell below the "7" mark during the day, and the dollar hit a two-week high against the yen intraday.