fbpx

Register for MT4 Demo Account

Register for xStation Account

Gold Edges Higher While Indices Remain Range Bound

By Research Team Friday, Jan 20, 2023
NZD/USD

    • 9.12amw1
    • High0.64245
    • Low0.63914
    • Close0.6416

NZD/USD is trading at 0.64177, 0.02% up since previous day close. An upside resumed in Kiwi post correction seen in the previous trading session. On data front, the New Zealand’s Business NZ Manufacturing Index remained steady at 47.2 while the Visitor Arrivals grew by 43.1% from 6.8% in the prior month. On global front, the soft USD over chances of smaller interest rate hikes in the next Fed meeting led buying bias in the other basket of currencies. Improving Chinese economic conditions & easing down of Covid-19 restrictions further pushed up NZD/USD. As seen in the chart, the pair is strongly trading above the short term Moving Averages & further upside may make the pair to test MA (100) & MA (200).

Read More… Read Less

Daily Outlook

NZD/USD

Intra Day
Near Day

Technical Levels

R3 0.657
R2 0.64865
R1 0.64407
Turnaround 0.6403
S1 0.63572
S2 0.63195
S3 0.6236
By Research Team Friday, Jan 20, 2023
JAP225

    • 9.30amw1
    • High26443
    • Low26303
    • Close26433

JAP225 is trading at 26373.8, 0.08% up since previous close. A slight upside can be seen in Asian shares on Friday amid mixed cues over interest rate hike stance in the Fed’s next meeting. Earlier, the U.S issued weaker Retail Sales data which dragged down the global markets. Globally, ongoing corporate earnings further contribute positive outlook in equity markets. The Bank of Japan (BoJ) left an interest rate steady at -0.10% & maintained its long term bond yields curve which slightly subdues the YEN & JAP225 as well. The Japan’s National Core CPI grew by 4.0% from 3.7% in the previous month. As seen in the chart, the index is trading within the sideways channel pattern & if took a support at lower trend-line, then a sharp move can be seen on higher side.

Read More… Read Less

Daily Outlook

JAP225

Intra Day
Near Day

Technical Levels

R3 27033
R2 26698
R1 26498
Turnaround 26363
S1 26163
S2 26028
S3 25693
By Research Team Friday, Jan 20, 2023
GOLD

    • 9.48amw1
    • High1934.9
    • Low1928.39
    • Close1928.89

Gold is trading at $1929.05, 0.19% up since previous close. The higher highs can be seen in Gold prices on weekly basis as buying interest are growing up in commodity markets amid global cues. The mixed USD post release of soft U.S Retail Sales data & strong U.S Jobless Claims figures maintained an upside in precious metals. The Gold rallied on an account of better Chinese GDP figures, opening up of Chinese restrictions & lockdowns & rising chances of U.S smaller rate hikes in near term & improving labor data. The traders will be looking forward to the FOMC members’ speech today. As seen in the chart, a consistent upside in Gold makes the commodity to test the previous high of $1980 levels on short term basis.

Read More… Read Less

Daily Outlook

GOLD

Intra Day
Near Day

Technical Levels

R3 1991.03
R2 1956.83
R1 1944.28
Turnaround 1922.63
S1 1910.08
S2 1888.43
S3 1854.23
footer-logo

XFlow Markets provides an entirely transparent access to the FOREX Market through two powerful trading platforms (XFLOW & MT4) with excellent execution speed, a 24/5 client support system with no dealing desk involvement.

© 2022 XFlow Markets LLC, All rights reserved.

Risk Warning: Leveraged trading in foreign currency contracts or other off-exchange products on margin carries a high level of risk and may not be suitable for everyone. We advise you to carefully consider whether trading is appropriate for you in light of your personal circumstances.

You may lose more than you invest. Information on this website is general in nature. We recommend that you seek independent financial advice and ensure you fully understand the risks involved before trading. Trading through an online platform carries additional risks.

XFlow Markets does not offer Contracts for Difference to residents of certain jurisdictions including the Belgium, Iran, Canada, North Korea, the USA, Cuba, Syria and FATF Black Listed Countries.

XFlow Markets is incorporated in Saint Vincent and the Grenadines with registration no. 255 LLC governed by the Limited Liability Companies Act Chapter 151, registered by the Financial Service Authority of Saint Vincent and the Grenadines.

XFlow Markets is not required to hold any financial services license or authorization in Saint Vincent and the Grenadines to offer its products and services.

Telephone number: +44 20 3835 5241 Working hours: 7:00 AM - 5:00 PM (GMT+0)