<h1>Sliver (XAG/USD) Analysis</h1>&nbsp;<h2>Key Points: -</h2>&nbsp;&nbsp;·&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The price of Silver is fluctuating near a 10-week high, experiencing a two-day winning streak, but showing limited upward momentum recently.·&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The clear break of the yearly horizontal resistance and bullish MACD signals favor buyers of XAG/USD (Silver/US Dollar).·&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;However, overbought RSI conditions present a challenge for further upside, potentially targeting the double tops recorded in April and May.&nbsp;<h2>Today's Scenario: - </h2>&nbsp;&nbsp;Silver price recorded slight gains despite the overall strength of the US Dollar (USD) against other major currencies. The decline in US Treasury bond yields contributed to the support for silver. Although the USD received a boost from soft US housing data and mixed Retail Sales figures, silver managed to trade at $25.14, showing an increase of 0.34% from its opening price. <h2>Diagram of XAG/USD (Silver): -</h2>&nbsp;<img src="https://cdn.forexoverflow.io/images/1689842410161-ufdujqn24buytww-xagusd2023-07-2013-59-14-1.png"> <h2>Economic Events: -</h2> <img src="https://cdn.forexoverflow.io/images/1689842430837-6nrr23vcety1qoe-economic-event-1.png"> <h2>Buy Scenario: - </h2>&nbsp;On the upside, if the bullish momentum persists, the intraday buyers may target the $26.00 round figure before attempting to breach the "double top" formation level around $26.10-15.&nbsp;Should the XAG/USD disregard the overbought RSI and successfully break above $26.15, it opens the possibility of a strong rally towards the previous yearly high of around $27.00. Till we did not recommend buying Silver (XAG/USD).&nbsp;<h2>Sell Scenario: - </h2>&nbsp;Silver price (XAG/USD) is currently trading around $25.15, taking a breather after a two-day uptrend that led to a 2.5-month high during the sluggish Asian session on Thursday. The price action justifies the overbought RSI, but the bulls are still in control.&nbsp;The bullish MACD signals, along with the breakout above a horizontal area around $24.50-55 (comprising multiple tops since early January), have enabled the silver price to reach the multi-day top.&nbsp;As long as the XAG/USD remains above $24.50 on a daily closing basis, the bullish sentiment is likely to continue. However, a decline towards the 50-day moving average (DMA) level, approximately $23.60, could be expected.&nbsp;In case of a deeper correction, the convergence of the 200-DMA and an upward-sloping support line from March 10, near $22.90, will be crucial for the bears to overcome to regain control.&nbsp;Till we do not advise selling silver (XAG/USD).&nbsp;<h2>Support and Resistance Level: -</h2>﻿&nbsp;Support&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Resistance&nbsp;&nbsp;&nbsp;S1 24.98&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R1 25.28&nbsp;S2 24.81&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R2 25.41&nbsp;S3 24.68&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R3 25.57&nbsp;&nbsp;

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With an overbought RSI, XAG/USD sets sights on the $26.10-15 obstacle. Discover more from the Silver Price Analysis.

Silver Price Outlook: XAG/USD Rally

Silver Price Forecast: XAG/USD Spikes -20-07-2023

<h1>WTI Crude Oil (US Oil) Analysis</h1>&nbsp;<h2>Key Points: -</h2>&nbsp;·&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The EIA Crude Oil Stocks Change data suggests a decrease in demand for crude oil.·&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The renewed trade war tensions between China and the United States could put pressure on WTI (West Texas Intermediate crude oil).·&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Market participants are expecting a more dovish policy stance from the Federal Reserve (Fed). <h2>Today's Scenario: - </h2>&nbsp;As of Thursday, Western Texas Intermediate (WTI), the US crude oil benchmark, is trading around the $75.40 mark. The WTI price edged lower after the release of the Crude Oil Stocks Change data, indicating lower demand for crude oil. The Energy Information Administration (EIA) reported that the Crude Oil Stocks Change for the week ending July 14 fell by 708,000 barrels, which was below the expected drop of 2.44 million barrels and lower than the previous week's gain of 5.946 million barrels. WTI price might also face pressure due to renewed trade war tensions between the US and China. China's Ambassador Xie Feng criticized the US's consideration of foreign investment and AI chip restrictions and threatened retaliation if the US imposes further curbs on its chip sector. On the other hand, market participants anticipate that the Federal Reserve (Fed) is nearing the end of its policy tightening cycle and will likely maintain interest rates following the expected 25 basis points increase in the July meeting. A more dovish stance from the Fed could limit the downside for WTI. It is worth noting that higher interest rates can slow the economy and reduce oil demand. Additionally, Russia is planning to cut its oil exports by 2.1 million metric tonnes in the third quarter, in line with its planned voluntary export cuts of 500,000 barrels per day in August. In the coming days, oil traders will closely monitor the developments in the US-China relationship and key economic data such as Unemployment Claims and the Philadelphia Fed Manufacturing Index. Looking ahead, next week's focus will shift to the US Flash Manufacturing Purchasing Managers Index (PMI) and Flash Services PMI, which could significantly impact the USD-denominated WTI price.&nbsp;<h2>Diagram of WTI Crude Oil (US Oil): -</h2>&nbsp;<img src="https://cdn.forexoverflow.io/images/1689841548699-3t1jn1khj01106i-usoil2023-07-2013-45-00-1.png">&nbsp;<h2>Economic Events: -</h2>&nbsp;<img src="https://cdn.forexoverflow.io/images/1689841566913-9a1fba5d0m6dx81-economic-event-1.png"> <h2>Buy Scenario: - </h2>&nbsp;if the price starts to climb, it may face resistance at 76.99, which is identified as an overlap resistance that could hinder further upward movement.&nbsp;If the price continues to rise, it might encounter the 2nd resistance level at 78.77, which is another overlap resistance level and could potentially act as a barrier to further upward movement.&nbsp;Till we do not advise to buy in WTI US oil.&nbsp;<h2>Selling Scenario: - </h2>&nbsp;The WTI US Oil chart currently indicates a weak bullish momentum with low confidence. There is a possibility that the price could decline towards the 1st support level in the short term before bouncing back and rising towards the 1st resistance level.&nbsp;The 1st support level at 73.76 is identified as an overlap support, and it could potentially serve as a rebound point for the price if it continues to decline.&nbsp;The 2nd support level at 72.50 is also an overlap support and coincides with the 50% Fibonacci retracement level, making it a significant level to watch for potential price barriers. Till we did not advise to sell WTI Crude oil.&nbsp;<h2>Support and Resistance Level: -</h2>﻿&nbsp;Support&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Resistance&nbsp;&nbsp;&nbsp;S1 74.64&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R1 76.47&nbsp;S2 73.91&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R2 77.57&nbsp;S3 72.80&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R3 78.30

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WTI holds above $75.40. Monitor Sino-US relations as they may influence the crude oil market.

WTI Price Resilient: Above $75.40

WTI Maintains Position: $75.40 and Beyond- 20-07-2023.

<h1>Gold (XAU/USD) Analysis</h1>&nbsp;<h2>Key Points: -</h2>&nbsp;<ul><li>The price of gold continues to show strength, reaching its highest levels in nine weeks, with traders successfully surpassing the support confluence at $1,970.</li><li>The weakness in the US Dollar and China's efforts to attract global investors provide support for the gold price.</li><li>Mixed concerns regarding the Federal Reserve's monetary policy and a light economic calendar contribute to the upward movement in the gold price.</li><li>The XAU/USD pair prepares for next week's Federal Open Market Committee (FOMC) meeting, even though a 0.25% rate hike in July is widely expected.</li></ul>&nbsp;<h2>Today's Scenario: - </h2>&nbsp;Gold Price (XAU/USD) has reached a two-month high, showing strength despite a slight retreat from the daily peak. This is mainly due to the broad decline in the US Dollar, which has resulted in sluggish markets. Positive headlines from China and lower yields have also contributed to the uptrend in XAU/USD. The People's Bank of China's efforts to ease controls on international investments into the country and their willingness to ease geopolitical tensions with the US if certain conditions are met have boosted the Gold Price. Additionally, weaker-than-expected US housing and consumer spending data have led to expectations of a policy pivot by the Federal Reserve after the anticipated 25 basis points rate hike in July. Moreover, there are discussions about optimism at US banks and BRICS countries' readiness to use gold-backed currency, which further supports the bullish sentiment for XAU/USD. However, concerns about higher interest rates for an extended period by major central banks and a lack of optimism in the Asia-Pacific market may be tempering the Gold buyers' enthusiasm. The light economic calendar ahead of the next week's Federal Open Market Committee (FOMC) monetary policy meeting announcements is also influencing the current market sentiment.&nbsp;<h2>Diagram of XAU/USD (Gold): -</h2>&nbsp;<img src="https://cdn.forexoverflow.io/images/1689840600893-w2yhuopq2kttf5e-xauusd2023-07-2013-29-39-1.png"> &nbsp;<h2>Economic Events: -</h2>&nbsp;<img src="https://cdn.forexoverflow.io/images/1689840622714-8ciy8cyqlrxf2z5-economic-event-1.png"> <h2>Buy Scenario: - </h2>&nbsp;On the upside, an immediate resistance level can be found at $1,990, where Fibonacci 161.8% on one-day intersects with the upper band of the Bollinger on the four-hour chart.&nbsp;If the Gold buyers manage to surpass this resistance, the next challenge awaits at the Pivot Point one-week R2 around $1,996, followed by the $2,010 hurdle, which corresponds to filling the upside gap. Till we did not advise to buy XAU/USD.&nbsp;<h2>Selling Scenario: - </h2>&nbsp;According to our Technical Confluence indicator, the Gold Price has moved higher, surpassing the $1,970 support confluence, which includes the Pivot Point one-day S1, one-month R1, and Fibonacci 23.6% on one-day.&nbsp;The next key support level is seen at $1,978, where the upper band of the Bollinger on the daily chart intersects with the Fibonacci 61.8% on one-day.&nbsp;In case the XAU/USD weakens below $1,970, there is an additional downside filter at around $1,965, comprising the Pivot Point one-day S2 and the 5-DMA, before encountering further bearish pressure. We do not advise to sell position in XAU/USD.&nbsp;<h2>Support and Resistance Level: -</h2> &nbsp;Support&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Resistance&nbsp;&nbsp;&nbsp;S1 1970.72&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R1 1981.90&nbsp;S2 1964.68&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R2 1987.04&nbsp;S3 1959.54&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R3 1993.08&nbsp;

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XAU/USD forecast signals gap filling below $2,010! Rely on the Confluence Detector for insights into the gold price movement.

Gold Price Analysis: XAU/USD Gap Concerns

Gold Price Outlook: XAU/USD Gap Filling-  20-07-2023

<h1>US Doller Index Analysis</h1>&nbsp;<h2>Key Points: -</h2>&nbsp;<ul><li>The US Dollar Index is consolidating its first weekly gain in four sessions, trading near its intraday low.</li><li>The US Dollar receives support from cautious optimism surrounding global growth concerns, as well as risk-positive news from China and Russia.</li><li>Market participants are closely watching upcoming US inflation data, the US Bank Stress Test results, and central bankers' speeches from the ECB Forum for clearer directions in the market.</li></ul>&nbsp;<h2>Today's Scenario: - </h2>&nbsp;The US Dollar Index (DXY) is facing selling pressure, leading to a pullback from its recent weekly gains around 102.70 during the early Monday morning in Asia. The consolidation in the US Dollar's value against six major currencies comes amid slightly positive market sentiment and preparations for upcoming top-tier US data and key central bankers' speeches. The uncertainty surrounding Russian President Vladimir Putin's power in Moscow and hopes of significant stimulus from China have contributed to cautious optimism and weighed on the US Dollar. There are concerns about Putin's grip on power after heavily armed Russian mercenaries withdrew from Rostov, which halted their advance on Moscow but raised questions about the situation. Ning Jizhe, a high-ranking Chinese official, flagged concerns about the need for additional stimulus to bolster the Chinese economy, leading to some optimism in the markets. However, some major investors have paused their optimism in China, and hawkish comments from Fed officials, along with relatively positive US data, have kept the DXY buyers hopeful. The mixed US S&amp;P Global PMIs for June have led to discussions about potential rate hikes, with some Fed officials suggesting two more this year. This has impacted sectors like services, which are sensitive to changes in borrowing costs. Despite the positive headlines from China and Russia, the US Dollar Index bulls remain hopeful, with potential risks arising from US inflation data and central bankers' speeches at the European Central Bank (ECB) Forum and US Bank Stress Test results. Overall, the DXY's performance will continue to be influenced by economic data, central bank actions, geopolitical developments, and market sentiment. <h2>Diagram of US Dollar Index (DXY): -</h2> <img src="https://cdn.forexoverflow.io/images/1689839687853-k2t4mxtca6ex8vp-dxy2023-07-2013-13-23-1.png">&nbsp; <h2>Economic Events : -</h2>&nbsp;<img src="https://cdn.forexoverflow.io/images/1689839703408-0ojqr78kdhmfyx4-economic-event-1.png"> <h2>Buy Scenario: - </h2>&nbsp;On the upside, the first resistance level at 100.84 could act as a barrier to any upward movement, as it is considered a pullback resistance. Additionally, there is an intermediate resistance at 100.53, which is recognized as a swing high resistance.&nbsp;Investors should closely monitor price action around these support and resistance levels to gauge the DXY's future direction. Till we do not advise to buy US Dollar Index.&nbsp;<h2>Sell Scenario: - </h2>&nbsp;The DXY chart shows a bearish momentum, indicating the potential for further downward movement towards the first support level at 99.42. This level is significant as it is an overlap support and may attract buying interest. Additionally, there is an intermediate support at 99.65, which is a multi-swing low support. Till we do not advise to sell in US Dollar Index&nbsp;<h2>Support and Resistance Level: -</h2>﻿&nbsp;Support&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Resistance&nbsp;&nbsp;&nbsp;S1 99.95&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R1 100.57&nbsp;S2 99.62&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R2 100.87&nbsp;S3 99.32&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R3 101.20&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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The US Dollar Index reacts to recent events, causing it to dip towards 102.50, with a close watch on inflation and bank stress test outcomes.

US Dollar Index Responds to News, target to 102.50

DXY Reverses: US Dollar Retreats to 102.50 - 20-07-2023

<h1>USD/CHF Analysis</h1>&nbsp;<h2>Key Points: -</h2> <ul><li>The USD/CHF pair continues to face selling pressure, reaching its lowest levels since January 2015, as indicated on Tuesday.</li><li>Switzerland's trade surplus expands beyond expectations in June, with both exports and imports showing positive growth.</li><li>The US Dollar experiences a decline as the market reevaluates its expectations regarding the Federal Reserve's monetary policy, following mostly negative economic data.</li><li>Market participants are closely monitoring risk catalysts ahead of next week's crucial Federal Open Market Committee (FOMC) meeting.</li></ul>&nbsp;<h2>Today's Scenario: - </h2>&nbsp;The USD/CHF pair continues to decline and is currently at its lowest levels since January 2015, down for the second consecutive day. The Swiss Franc (CHF) pair justifies the downtrend, driven by the weaker US dollar and stronger Swiss trade numbers, trading around 0.8560 during Thursday's European session. Swiss Trade Balance for June rose to 4,823M, exceeding expectations of 4,031M, despite being lower than the previous reading of 5,442M. Details indicate that exports grew to 24,917M from 23,879M, and imports also rose to 20,093M compared to 18,438M in May. The broad weakness in the US dollar is a contributing factor to the USD/CHF pair's decline. The US Dollar Index (DXY) drops 0.25% intraday, testing the 100.00 round figure, after rebounding for two days from its lowest level since April 2022. The greenback's performance is influenced by downbeat US housing data and mixed concerns about the Federal Reserve (Fed), while optimism at US banks is being overlooked. The Swiss Franc's safe-haven appeal and the market's cautious mood, driven by mixed headlines about China and global central banks, are also influencing the USD/CHF bears. Additionally, the Swiss National Bank's (SNB) hawkish bias contrasts with the market's uncertainty about the Fed's future actions beyond July, putting further pressure on USD/CHF prices. Amidst these factors, the S&amp;P 500 Futures are showing mild losses, and US Treasury bond yields are trading mixed at the weekly low. Traders of the USD/CHF pair should keep an eye on risk catalysts, including the US Initial Jobless Claims and Existing Home Sales data. However, the key event to watch for clear directions is the Federal Open Market Committee (FOMC) monetary policy meeting announcements scheduled for next week. &nbsp;<h2>Diagram of USD/CHF: -</h2>&nbsp;<img src="https://cdn.forexoverflow.io/images/1689838547874-5g4ezhiftki8x29-usdchf2023-07-2012-51-06-1.png"> <h2>Economic Events : -</h2>&nbsp;<img src="https://cdn.forexoverflow.io/images/1689838597379-ot2f5efyu2zrktp-economic-event-1.png">&nbsp;<h2>Buy Scenario: - </h2>&nbsp;On the upside, the 1st resistance level at 0.8759 is identified as a pullback resistance, which may act as an obstacle to upward price movement. It is crucial to monitor how the price reacts around this level, as a failure to break above it could indicate a continuation of the bearish momentum. Till we do not advise to buy USD/CHF.&nbsp;<h2>Sell Scenario: - </h2>&nbsp;The USD/CHF currency pair is currently showing a bearish trend, indicating the potential for further downward movement towards the 1st support level.&nbsp;The 1st support level at 0.8529 is particularly important as it aligns with the 100% Fibonacci Projection. This level could serve as a strong support zone, attracting buyers and potentially leading to a halt in the price decline. Furthermore, the 2nd support level at 0.8445 corresponds to the -61.8% Fibonacci Expansion, adding to its significance as a potential area of support. Till we do not advise to sell USD/CHF.&nbsp;<h2>Support and Resistance Level: -</h2> &nbsp;Support&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Resistance&nbsp;&nbsp;&nbsp;S1 0.8564&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R1 0.8610&nbsp;S2 0.8542&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R2 0.8635&nbsp;S3 0.8517&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R3 0.8657&nbsp;

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USD/CHF faces fresh lows! Positive Swiss trade data and a weaker USD weigh on the pair.

USD/CHF Eyes Multi-Year Low amid Strong Swiss Trade

USD/CHF at Risk: New Multi-Year Low Expected- 20-07-2023.

The global economy is dominated by the US dollar, with over 60% of global foreign exchange reserves held in the currency. This has led to concerns about the potential risks and vulnerabilities associated with such a concentration of economic power in a single currency. In response, the BRICS countries (Brazil, Russia, India, China, and South Africa) have been exploring the possibility of creating their own reserve currency to reduce their dependence on the US dollar. But is this move likely to succeed in reducing the dollar's dominance in the global economy?

**The US Dollar's Dominance in the Global Economy**

Before delving into the BRICS countries' attempt to reduce the US dollar's dominance, it is important to understand the reasons behind the currency's current dominance in the global economy. The US dollar has been the world's reserve currency since the end of World War II. The Bretton Woods agreement of 1944 established the US dollar as the standard currency for international transactions, and countries agreed to peg their currencies to the US dollar, which was in turn backed by gold.

However, the Bretton Woods system collapsed in 1971, when the US abandoned the gold standard, leading to a transition to a floating exchange rate system. Despite this change, the US dollar remained the dominant currency in the global economy due to the size of the US economy and the stability of the US financial system. The US dollar has become the default currency for international trade, with many countries requiring US dollars to conduct business.

**The Risks of the Dollar's Dominance**

While the US dollar's dominance has provided many benefits to the US economy, it also poses several risks and vulnerabilities for the global economy. For example, fluctuations in the US dollar can have significant effects on global financial markets and commodity prices. In addition, the US Federal Reserve's monetary policy decisions can have far-reaching impacts on other countries' economies. This has led to concerns about the potential for the US to use its economic power as a tool for geopolitical influence.

Furthermore, the US dollar's dominance has created a reliance on the US financial system and a vulnerability to potential disruptions in that system. For example, the 2008 financial crisis highlighted the risks associated with the concentration of economic power in a single country and currency. Countries with large foreign exchange reserves held in US dollars were particularly vulnerable to the crisis, as the value of the US dollar decreased, and many countries experienced significant economic downturns.

**The BRICS' Attempt to Reduce the Dollar's Dominance**

Given the risks and vulnerabilities associated with the US dollar's dominance, the BRICS countries have been exploring the possibility of creating their own reserve currency to reduce their dependence on the US dollar. The idea of a BRICS' reserve currency was first proposed in 2010, and the BRICS countries have since taken several steps towards its implementation.

One of the key steps taken by the BRICS countries was the establishment of the New Development Bank (NDB) in 2014. The NDB was created to provide financing for infrastructure and sustainable development projects in emerging economies, with the aim of reducing their dependence on Western-led financial institutions such as the World Bank and the International Monetary Fund. The NDB's capital is denominated in US dollars, but the BRICS countries have expressed a desire to eventually denominate it in their own currencies.

Another step taken by the BRICS countries was the establishment of the Contingent Reserve Arrangement (CRA) in 2015. The CRA is a $100 billion fund that provides liquidity to member countries in the event of a balance of payments crisis. The CRA is denominated in US dollars, but the BRICS countries have expressed a desire to eventually denominate it in their own currencies. In addition, the BRICS countries have been exploring the possibility of creating a cryptocurrency to facilitate trade and investment between member countries.

Despite these efforts, the BRICS countries face several challenges in their attempt to reduce the US dollar's dominance in the global economy. One of the biggest challenges is the sheer size and influence of the US economy. The US dollar's dominance is not just a result of its status as the world's reserve currency, but also due to the size and depth of the US financial system. The US financial system is home to some of the world's largest banks, and the US bond market is the largest and most liquid in the world. This means that any attempt to create a new reserve currency would need to be able to match the size and depth of the US financial system.

In addition, the BRICS countries face challenges in terms of coordination and cooperation. While the BRICS countries share a common goal of reducing their dependence on the US dollar, they also have their own unique economic and political interests. This can make it difficult to agree on a unified approach to creating a new reserve currency.

Finally, the BRICS countries also face challenges in terms of international acceptance. Any new reserve currency would need to be widely accepted and trusted by other countries and international financial institutions. This can be a difficult task, as the US dollar's dominance is deeply entrenched in the global financial system, and many countries may be reluctant to switch to a new currency.

**Conclusion**

In conclusion, the BRICS countries' attempt to reduce the US dollar's dominance in the global economy is a challenging and complex task. While the risks and vulnerabilities associated with the US dollar's dominance are well-known, the US financial system's size and influence, as well as the challenges of coordination and international acceptance, make it difficult to create a viable alternative. Nevertheless, the BRICS countries have taken several steps towards this goal, including the establishment of the NDB and CRA, and the exploration of a new cryptocurrency. Whether these efforts will succeed in reducing the US dollar's dominance remains to be seen, but the discussion and debate surrounding the issue is an important one for the global economy.


The global economy is dominated by the US dollar, with over 60% of global foreign exchange reserves held in the currency. This has led to concerns about the potential risks and vulnerabilities associa...

BRICS' Reserve Currency: A Rival to the Dollar's Dominance?

 Why Putin Declared a Part Mobilization of the Military Reserve in Russia

1. To bolster military mobilization before the country faces recession due to global oil prices.

2. To prepare for a possible war with Ukraine, Belarus or other countries that have been subject to sanctions by Russia.

3. To set up military bases near Crimea, which Moscow considers part of its traditional sphere of influence and not just Russian territory since 2014 annexation from Ukraine.

4. In response to NATO's buildup on Russia's borders in the past decade and large-scale drills near its borders in May 2016 (Warrior Strike) and September 2016 (Breeze).

5. In preparation for an escalation with US/NATO forces who are constructing an anti-Russia missile defense system in Romania, Poland and other Eastern European nations that could be operational as early as 2018.



 Why Putin Declared a Part Mobilization of the Military Reserve in Russia

1. To bolster military mobilization before the country faces recession due to global oil prices.

2. To prepare for a possibl...

Russia begins Mobilization of its reserve force, is it immediate threat to Ukraine?

A company's **Debt-To-Equity Ratio** is a key indicator of financial leverage, which is a measure of the size of a company's current liabilities relative to its assets. The debt-to-equity ratio is measured on a company's total liabilities and shareholder's equity.

The debt-to-equity (D/E) ratio has been a topic of discussion for a long time. This ratio is used to evaluate a company's financial leverage. In fact, the debt-to-equity ratio is one of the most important ratios that you should be aware of because it is often used to evaluate a company's financial strength. 

The debt-to-equity ratio is one of the most important financial ratios that one can use to assess a company's financial health.

A company's **Debt-To-Equity Ratio** is a key indicator of financial leverage, which is a measure of the size of a company's current liabilities relative to its assets. The debt-to-equity ratio is mea...

Debt-To-Equity Ratio

The **Securities and Exchange Board of India (SEBI)** is the regulatory body that oversees the securities market in India. It was established in 1988 and given statutory powers in 1992 through the Securities and Exchange Board of India Act.

**SEBI's main responsibilities include: -**

- Regulating the securities market and protecting the interests of investors

- Registering and regulating the working of stock exchanges, mutual funds, and other market intermediaries

- Promoting and ensuring orderly development of the securities market

- Regulating the issue and listing of securities, and enforcing compliance with securities laws and regulations.

SEBI has the power to make rules, regulations, and guidelines for the securities market, and it also has the authority to take enforcement action against market participants who violate securities laws and regulations.

SEBI also plays an important role in investor education, promoting awareness about the securities market and protecting investors from fraud and unfair practices. It also has a dedicated Investor Service Centre and a call center to assist investors with their queries and complaints.

SEBI's main objective is to protect the interests of investors and to promote the development of the securities market in India. It works closely with other regulatory bodies such as Reserve Bank of India and Ministry of Corporate Affairs, to ensure a coordinated approach to the regulation of the securities market.


The **Securities and Exchange Board of India (SEBI)** is the regulatory body that oversees the securities market in India. It was established in 1988 and given statutory powers in 1992 through the Sec...

Securities and Exchange Board of India (SEBI)

 **US Doller Index Analysis**

![US Doller Index](https://res.cloudinary.com/forex-overflow/image/upload/v1684221578/fx-overflow-assets/prdtsnrg9zioekqsunsw.png)

**Economic Events and Scenario for US Doller Index**

**Economic Events : -**
| GMT | Event | Impact |Currency |
  |:-:| :-| :- | :- |
| 01:30	| (Australia) Westpac Consumer Confidence Index	| High	| AUD |
| 01:30	| (Australia) Westpac Consumer Confidence Change	| High	| AUD |
| 02:30	| (Australia) RBA Meeting Minutes	| High	| AUD |
| 03:00	| (China) Unemployment Rate	| High	| CNY |
| 03:00	| (China) Retail Sales YoY	| High	| CNY |
| 03:00	| (China) Industrial Production YoY	| High	| CNY |
| 03:00	| (China) Fixed Asset Investment (YTD) YoY	| Medium	| CNY |
| 06:00	| (Finland) GDP YoY	| Low	| EUR |
| 06:00	| (Finland) GDP Growth Rate QoQ	| Low	| EUR |
| 06:00	| (Finland) GDP Growth Rate YoY	| Low	| EUR |
| 07:00	| (United Kingdom) HMRC Payrolls Change	| Low	| GBP |
| 07:00	| (United Kingdom) Average Earnings excl. Bonus (3Mo/Yr)	| Low	| GBP |
| 07:00	| (United Kingdom) Average Earnings incl. Bonus (3Mo/Yr)	| Medium	| GBP |
| 07:00	| (United Kingdom) Unemployment Rate	| High	| GBP |
| 07:00	| (United Kingdom) Claimant Count Change	| High	| GBP |
| 07:00	| (United Kingdom) Employment Change	| High	| GBP |
| 07:00	| (United Kingdom) Labour Productivity QoQ	| Low	| GBP |
| 08:00	| (China) FDI (YTD) YoY	| Medium	| CNY |
| 08:00	| (Slovakia) GDP Growth Rate YoY	| Low	| EUR |
| 08:00	| (Slovakia) GDP Growth Rate QoQ	| Low	| EUR |
| 08:30	| (Netherlands) Household Consumption YoY	| Low	| EUR |
| 08:30	| (Netherlands) GDP Growth Rate QoQ	| Medium	| EUR |
| 08:30	| (Netherlands) GDP Growth Rate YoY	| Medium	| EUR |
| 08:30	| (Netherlands) Balance of Trade	| Low	| EUR |
| 09:00	| (European Union) ECOFIN Meeting	| Medium	| EUR |
| 09:00	| (France) IEA Oil Market Report	| Medium	| EUR |
| 09:00	| (Italy) Inflation Rate MoM	| Low	| EUR |
| 09:00	| (Italy) Harmonised Inflation Rate MoM	| Low	| EUR |
| 09:00	| (Italy) Inflation Rate YoY	| Medium	| EUR |
| 09:00	| (Italy) Harmonised Inflation Rate YoY	| Low	| EUR |
| 09:00	| (Italy) CPI	| High	| EUR |
| 09:40	| (Spain) 3-Month Letras Auction	| Low	| EUR |
| 10:00	| (Cyprus) GDP Growth Rate YoY	| Low	| EUR |
| 10:00	| (Cyprus) GDP Growth Rate QoQ	| Low	| EUR |
| 10:00	| (Euro Area) GDP Growth Rate YoY	| Medium	| EUR |
| 10:00	| (Euro Area) GDP Growth Rate QoQ	| Medium	| EUR |
| 10:00	| (Euro Area) Employment Change QoQ	| High	| EUR |
| 10:00	| (Euro Area) Employment Change YoY	| High	| EUR |
| 10:00	| (Euro Area) Balance of Trade	| Medium	| EUR |
| 10:00	| (Euro Area) ZEW Economic Sentiment Index	| Medium	| EUR |
| 10:00	| (Germany) ZEW Current Conditions	| Low	| EUR |
| 10:00	| (Germany) ZEW Economic Sentiment Index	| High	| EUR |
| 10:00	| (Montenegro) Inflation Rate MoM	| Low	| EUR |
| 10:00	| (Montenegro) Harmonised Inflation Rate YoY	| Low	| EUR |
| 10:00	| (Montenegro) Inflation Rate YoY	| Low	| EUR |
| 13:15	| (United States) Fed Mester Speech	| Medium	| USD |
| 13:30	| (Canada) Manufacturing Sales MoM	| Low	| CAD |
| 13:30	| (Canada) Core Inflation Rate MoM	| Low	| CAD |
| 13:30	| (Canada) Core Inflation Rate YoY	| Medium	| CAD |
| 13:30	| (Canada) Inflation Rate MoM	| Medium	| CAD |
| 13:30	| (Canada) Inflation Rate YoY	| High	| CAD |
| 13:30	| (Canada) CPI Trimmed-Mean YoY	| High	| CAD |
| 13:30	| (Canada) CPI Median YoY	| High	| CAD |
| 13:30	| (United States) Retail Sales Ex Gas/Autos MoM	| High	| USD |
| 13:30	| (United States) Retail Sales YoY	| High	| USD |
| 13:30	| (United States) Retail Sales Ex Autos MoM	| High	| USD |
| 13:30	| (United States) Retail Sales MoM	| High	| USD |
| 13:55	| (United States) Redbook YoY	| Low	| USD |
| 13:55	| (United States) Fed Bostic Speech	| Medium	| USD |
| 14:15	| (United States) Manufacturing Production MoM	| Low	| USD |
| 14:15	| (United States) Industrial Production MoM	| Medium	| USD |
| 14:15	| (United States) Industrial Production YoY	| Medium	| USD |
| 14:15	| (United States) Manufacturing Production YoY	| Low	| USD |
| 14:15	| (United States) Capacity Utilization	| Low	| USD |
| 14:45	| (Euro Area) ECB Tuominen Speech	| Low	| EUR |
| 15:00	| (United States) Retail Inventories Ex Autos MoM	| Low	| USD |
| 15:00	| (United States) Business Inventories MoM	| Medium	| USD |
| 15:00	| (United States) NAHB Housing Market Index	| Medium	| USD |
| 15:00	| (United States) Fed Barr Testimony	| Medium	| USD |
| 15:00	| (Euro Area) ECB President Lagarde Speech	| Medium	| EUR |
| 16:00	| (New Zealand) Global Dairy Trade Price Index	| Low	| NZD |
| 16:30	| (United States) 52-Week Bill Auction	| Low	| USD |
| 17:15	| (United States) Fed Williams Speech	| Medium	| USD |
| 20:15	| (United States) Fed Logan Speech	| Medium	| USD |
| 21:30	| (United States) API Crude Oil Stock Change	| Medium	| USD |
***
**Today's Scenario: -** On Monday, the US dollar saw a significant increase in value against other major currencies, reaching its highest level in five weeks. This rise was driven by concerns surrounding inflation in the US and global economic growth.

The dollar had already experienced notable gains throughout the previous week, and its upward trend continued, surpassing levels not seen since April 10. Although it slightly retraced later in the day, it remains relatively strong.

In the past week alone, the dollar has gained 1.4%. Traders believe that the currency is currently undervalued and anticipate that the dollar index, which measures its value against other major currencies, will reach 104 by the end of June.

As of 05:51 GMT, June U.S. Dollar Index futures are trading at 102.430, showing a decline of 0.079 or -0.08%. This is a slight drop from the intraday high of 102.585. On Friday, the Invesco DB US Dollar Index Bullish Fund ETF (UUP) closed at $28.10, marking an increase of $0.18 or +0.63%.
***
**Buy Scenario: -** The US Dollar Index (DXY) reached fresh monthly highs near 102.80 on Monday but quickly retraced its gains. For the bullish momentum to continue, the index would need to surpass the previous weekly high at 102.80, which was recorded on April 10. If this level is breached, it could potentially pave the way for a visit to the April high at 103.05, which was reached on April 3. Till we do not advise to buy US Dollar Index.
***
**Sell Scenario: -** On the downside, there is currently strong support around the 101.00 level, acting as a significant barrier.

Taking a broader perspective, as long as the index remains below the 200-day Simple Moving Average (SMA), which is currently positioned at 105.83, the overall outlook for the index is expected to remain negative. Till we do not advise to sell in US Dollar Index
***
**Support and Resistance Level: -**
| Support |   |   | Resistance   |
  | - | -: | :- | :-: |
  | S1 102.29| - | |R1 102.68|
  | S2 102.13| - | |R2 102.91|	
  | S3 101.90| - | |R3 103.07|


 **US Doller Index Analysis**

![US Doller Index](https://res.cloudinary.com/forex-overflow/image/upload/v1684221578/fx-overflow-assets/prdtsnrg9zioekqsunsw.png)

**Economic Events and Scenario for US...

Daily Analysis For US Doller Index 16-05-2023

**USD/CAD Analysis**

![USD/CAD](https://res.cloudinary.com/forex-overflow/image/upload/v1683523290/fx-overflow-assets/gzduordidqzvxnmml3kf.png)

**Economic Events and Scenario for USD/CAD**

**Economic Events : -**
| GMT | Event | Impact |Currency |
  |:-:| :-| :- | :- |
| 00:50	| (Japan) BoJ Monetary Policy Meeting Minutes	| Medium	| JPY |
| 01:00	| (France) Victory in Europe Day	| None	| EUR |
| 01:00	| (United Kingdom) Bank Holiday for the coronation of King Charles III	| None	| GBP |
| 01:30	| (Japan) Jibun Bank Services PMI	| Medium	| JPY |
| 01:30	| (Japan) Jibun Bank Composite PMI	| Low	| JPY |
| 02:30	| (Australia) Building Permits MoM	| Medium	| AUD | 
| 02:30	| (Australia) Private House Approvals MoM	| Low	| AUD | 
| 02:30	| (Australia) Building Permits YoY	| Low	| AUD | 
| 02:30	| (Australia) NAB Business Confidence	| High	| AUD | 
| 06:00	| (Estonia) Inflation Rate YoY	| Low	| EUR |
| 06:00	| (Estonia) Inflation Rate MoM	| Low	| EUR |
| 06:00	| (Estonia) CPI	| Low	| EUR |
| 07:00	| (Finland) Balance of Trade	| Low	| EUR |
| 07:00	| (Germany) Industrial Production MoM	| Medium	| EUR |
| 09:00	| (Australia) Myfxbook AUDUSD Sentiment	| Medium	| AUD | 
| 09:00	| (Switzerland) Myfxbook USDCHF Sentiment	| Medium	| CHF |
| 09:00	| (Japan) Myfxbook USDJPY Sentiment	| Medium	| JPY |
| 09:00	| (European Union) Myfxbook EURUSD Sentiment	| Medium	| EUR |
| 09:00	| (United Kingdom) Myfxbook GBPUSD Sentiment	| Medium	| GBP |
| 09:00	| (Canada) Myfxbook USDCAD Sentiment	| Medium	| CAD |
| 09:00	| (New Zealand) Myfxbook NZDUSD Sentiment	| Medium	| NZD |
| 10:00	| (Greece) Balance of Trade	| Low	| EUR |
| 10:30	| (Germany) 3-Month Bubill Auction	| Low	| EUR |
| 11:00	| (Spain) Consumer Confidence	| Medium	| EUR |
| 11:00	| (Latvia) Industrial Production MoM	| Low	| EUR |
| 11:00	| (Latvia) Industrial Production YoY	| Low	| EUR |
| 15:00	| (El Salvador) Inflation Rate YoY	| Low	| USD |
| 15:00	| (El Salvador) Inflation Rate MoM	| Low	| USD |
| 15:00	| (United States) Wholesale Inventories MoM	| Low	| USD |
| 16:00	| (United States) Consumer Inflation Expectations	| Low	| USD |
| 16:30	| (United States) 3-Month Bill Auction	| Low	| USD |
| 16:30	| (United States) 6-Month Bill Auction	| Low	| USD |
| 23:45	| (New Zealand) Electronic Retail Card Spending MoM	| Low	| NZD |
| 23:45	| (New Zealand) Electronic Retail Card Spending YoY	| Low	| NZD |
***
**Today's Scenario: -** The USD/CAD pair initially dropped to near 1.3370 during the early Asian session, but has since found some support. However, it is expected to continue its downward trend due to rising oil prices and the expectation that the Federal Reserve will pause its policy-tightening measures. Additionally, strong labor market data from Canada has renewed fears of more interest rate hikes from the Bank of Canada. In April, Canada's Net Change in Employment was 41.4K, beating expectations of 20K, and the Unemployment Rate dropped to 5.0%, lower than the expected 5.1%. Annual Average Hourly Earnings remained steady at 5.2%.
***
**Buy Scenario: -** On the buying side for the USD/CAD Alternatively, if the pair rebounds and rises above the high on April 10 at 1.3554, it could potentially target the high on January 05 at 1.3595. If it breaks above this level, it could target the high on April 26 at 1.3651. Till we do not advise to buy USD/CAD.
***
**Sell Scenario: -** The USD/CAD pair is currently in a Symmetrical Triangle chart pattern on a daily timeframe, which signifies a reduction in volatility followed by an eventual increase in the same. The trendline of the pattern that is sloping downwards is connected from the high on October 10, 2022, at 1.3978, while the trendline that is sloping upwards is linked from the low on November 15, 2022, at 1.3226.

The 20-period Exponential Moving Average (EMA) at 1.3500 is closely aligned with the price of the Loonie, indicating a decrease in volatility.

The Relative Strength Index (RSI) (14) has marginally fallen below the bearish range of 20.00-40.00, and a continued decline below this range could potentially accelerate bearish momentum.

Looking ahead, if the USD/CAD pair falls below last week's low at 1.3371, it could extend its decline towards the low on April 17 at 1.3343, followed by the support level at 1.3300. Till we do not advise to sell USD/CAD.
***
**Support and Resistance Level: -**
| Support |   |   | Resistance   |
  | - | -: | :- | :-: |
  | S1 1.3317| - | |R1 1.3487|
  | S2 1.3259| - | |R2 1.3599|
  | S3 1.3146| - | |R3 1.3657|



**USD/CAD Analysis**

![USD/CAD](https://res.cloudinary.com/forex-overflow/image/upload/v1683523290/fx-overflow-assets/gzduordidqzvxnmml3kf.png)

**Economic Events and Scenario for USD/CAD**

**Econom...

Daily Analysis For USD/CAD  08-05-2023

**Sliver (XAG/USD) Analysis**

![Sliver (XAG/USD)](https://res.cloudinary.com/forex-overflow/image/upload/v1678694839/fx-overflow-assets/ckamktpbchxwj15rtp1s.png)

**Economic Events and Scenario for XAG/USD**

**Economic Events : -**
| GMT |  | Event |Currency  |
  | - | -: | :- | :-: |
  |13:00 |-  |(Ecuador) Balance of Trade| USD |
  |15:00 |-  |(United States) Consumer Inflation Expectations| USD |
  |15:30 |-  |(United States) 3-Month Bill Auction| USD |
  |15:30 |-  |(United States) 6-Month Bill Auction| USD |
***
**Today's Scenario: -**   The price of silver (XAG/USD) is holding onto slight gains around the $20.60 level as it tests a short-term key resistance line during early trading on Monday. Despite this, XAG/USD has managed to maintain a three-day winning streak and has extended its rebound from its lowest levels since November 4th, 2022.
***
**Buy Scenario: -** On the buying side, any potential uptrend for the XAG/USD may be difficult to sustain unless the price remains below the resistance line that has been sloping downwards since late February, with the latest level being around $20.90. Additionally, the round figure of $21.00 is also acting as a barrier for upward movements.

If the Silver buyers manage to push the price beyond $21.00, the bears' last line of defense could be the high of around $21.30 from last week. Till we did not recommend buying Silver (XAG/USD).
***

**Sell Scenario: -** The Silver price faces some bearish signals, including the potential bear cross on the MACD and the failure to stay above the 200-SMA and a two-week-old resistance line. These factors are giving hope to the Silver bears.

As a result, the Silver price may be on track to retest a horizontal support zone established two weeks ago, which is around $20.40 at the latest. If the price continues to decline, it may face difficulty in breaking below the psychological level of $20.00.

If the bearish trend continues, the Silver price may face further downside pressure, with the monthly low of $19.95 and the November 2022 bottom around $18.85 as potential targets for the bears. Till we do not advise selling silver (XAG/USD).
***
**Support and Resistance Level: -**
| Support |   |   | Resistance   |
  | - | -: | :- | :-: |
  |S1 18.28 | - | | R1 21.00 |
  | S2 16.66| - | | R2 22.71 |
  | S3 15.59 | - | |R3 23.28 |



**Sliver (XAG/USD) Analysis**

![Sliver (XAG/USD)](https://res.cloudinary.com/forex-overflow/image/upload/v1678694839/fx-overflow-assets/ckamktpbchxwj15rtp1s.png)

**Economic Events and Scenario for X...

Daily Analysis For Silver (XAG/USD)   13-03-2023

A professional who performs accounting functions such as account analysis, auditing and financial statement analysis is called an **Accountant.** 

Accountants may work for a variety of companies and organizations, either in the public or private sector. Accountants usually have bachelor's degrees in accounting and, in many cases, are Certified Public Accountants (CPAs).

A professional who performs accounting functions such as account analysis, auditing and financial statement analysis is called an **Accountant.** 

Accountants may work for a variety of companies and ...

Accountant

**WTI Crude Oil (US Oil) Analysis**

![WTI Crude Oil (US Oil)](https://res.cloudinary.com/forex-overflow/image/upload/v1680764692/fx-overflow-assets/xvgxklcnyj5dwhojbzxp.png)

**Economic Events and Scenario for WTI Crude Oil (US Oil)**  

**Economic Events: -**
| GMT | Event | Impact |Currency  |
  |:-:| :-| :- | :- |
| 00:50	| (Japan) Foreign Bond Investment	| Low	| JPY |
| 00:50	| (Japan) Stock Investment by Foreigners	| Low	| JPY |
| 01:00	| (El Salvador) Maundy Thursday	| None	| USD |
| 01:00	| (Portugal) Maundy Thursday	| None	| EUR |
| 02:30	| (Australia) Exports MoM	| Low	| AUD |
| 02:30	| (Australia) Imports MoM	| Low	| AUD |
| 02:30	| (Australia) Balance of Trade	| High	| AUD |
| 02:30	| (Australia) RBA Financial Stability Review	| Medium	| AUD |
| 02:45	| (China) Caixin Composite PMI	| Low	| CNY |
| 02:45	| (China) Caixin Services PMI	| High	| CNY |
| 04:35	| (Japan) 6-Month Bill Auction	| Low	| JPY |
| 04:35	| (Japan) 30-Year JGB Auction	| Low	| JPY |
| 06:00	| (Estonia) Industrial Production MoM	| Low	| EUR |
| 06:00	| (Estonia) Industrial Production YoY	| Low	| EUR |
| 06:00	| (Finland) Industrial Production YoY	| Low	| EUR |
| 06:45	| (Switzerland) Unemployment Rate	| High	| CHF |
| 07:00	| (Finland) Balance of Trade	| Low	| EUR |
| 07:00	| (Germany) Industrial Production MoM	| Medium	| EUR |
| 07:00	| (United Kingdom) Halifax House Price Index MoM	| Medium	| GBP |
| 07:00	| (United Kingdom) Halifax House Price Index YoY	| Medium	| GBP |
| 08:00	| (Austria) Balance of Trade	| Low	| EUR |
| 08:00	| (Austria) Wholesale Prices MoM	| Low	| EUR |
| 08:00	| (Austria) Wholesale Prices YoY	| Low	| EUR |
| 08:00	| (Slovakia) Balance of Trade	| Low	| EUR |
| 08:00	| (Switzerland) Foreign Exchange Reserves	| Low	| CHF |
| 08:30	| (Euro Area) S&P Global Construction PMI	| Low	| EUR |
| 08:30	| (France) S&P Global Construction PMI	| Low	| EUR |
| 08:30	| (Germany) S&P Global Construction PMI	| Medium	| EUR |
| 08:30	| (Italy) S&P Global Construction PMI	| Low	| EUR |
| 09:00	| (Germany) New Car Registrations YoY	| Low	| EUR |
| 09:30	| (United Kingdom) S&P Global/CIPS Construction PMI	| Medium	| GBP |
 | 10:00	| (France) New Car Registrations YoY	| Low	| EUR |
| 10:00	| (Cyprus) Construction Output YoY	| Low	| EUR |
| 10:00	| (Cyprus) Inflation Rate MoM	| Low	| EUR |
| 10:00	| (Cyprus) Inflation Rate YoY	| Low	| EUR |
| 10:00	| (France) 10-Year OAT Auction	| Low	| EUR |
| 11:00	| (Ireland) Industrial Production YoY	| Low	| EUR |
| 12:30	| (United States) Challenger Job Cuts	| Low	| USD |
| 13:30	| (Canada) Average Hourly Wages YoY	| Low	| CAD |
| 13:30	| (Canada) Part Time Employment Chg	| Medium	| CAD |
| 13:30	| (Canada) Full Time Employment Chg	| Medium	| CAD |
| 13:30	| (Canada) Participation Rate	| Medium	| CAD |
| 13:30	| (Canada) Employment Change	| High	| CAD |
| 13:30	| (Canada) Unemployment Rate	| High	| CAD |
| 13:30	| (United States) Initial Jobless Claims	| High	| USD |
| 13:30	| (United States) Jobless Claims 4-week Average	| High	| USD |
| 13:30	| (United States) Continuing Jobless Claims	| High	| USD |
| 15:00	| (Canada) Ivey PMI s.a	| High	| CAD |
| 15:00	| (Ecuador) Inflation Rate YoY	| Low	| USD |
| 15:00	| (United States) Total Vehicle Sales	| Low	| USD |
| 15:00	| (United States) Fed Bullard Speech	| Medium	| USD |
| 15:30	| (United States) EIA Natural Gas Stocks Change	| Low	| USD |
| 16:30	| (United States) 8-Week Bill Auction	| Low	| USD |
| 16:30	| (United States) 4-Week Bill Auction	| Low	| USD |
| 18:00	| (United States) Baker Hughes Oil Rig Count	| Low	| USD |
| 18:00	| (United States) Baker Hughes Total Rig Count	| Low	| USD |
***
**Today's Scenario: -** WTI crude oil has experienced a second consecutive day of decline, having recently reached a seven-week high. It is currently down by 0.50%, trading near $79.95 as Thursday's European session begins. This decline can be attributed to a corrective bounce in the US Dollar and a general negative sentiment, which has resulted in trimming gains during the third consecutive weekly uptrend.
***
**Buy Scenario: -** A potential uptrend may occur if the market rises above the resistance level of 81.81. If this happens, the next target level would be the resistance level of 83.04. Till we do not advise to buy in WTI US oil.
***
**Selling Scenario: -** If the market continues to trade below the resistance level of 81.81, it is likely that the downtrend will persist, potentially leading to a drop towards the support level of 75.70. Till will did not advise to sell WTI Crude oil.
***
**Support and Resistance Level: -**
| Support |   |   | Resistance   |
  | - | -: | :- | :-: |
  | S1 79.66| - | | R1 81.16|
  | S2 78.95| - | | R2 81.95|
  | S3 78.16| - | | R3 82.66|


**WTI Crude Oil (US Oil) Analysis**

![WTI Crude Oil (US Oil)](https://res.cloudinary.com/forex-overflow/image/upload/v1680764692/fx-overflow-assets/xvgxklcnyj5dwhojbzxp.png)

**Economic Events and Sc...

Daily Analysis For WTI Crude (US Oil) 06-04-2023

There is no doubt that **Capital Expenditures** are important for any company. Funds used by a company to acquire, upgrade, and maintain physical assets such as property, plants, buildings, technology, or equipment can help it grow and be successful. However, not all companies recognize the importance of capital expenditures and allocate the necessary funds for them.

One of the key benefits of capital expenditures is that they can help businesses become more efficient and productive. When companies invest in new technology or equipment, for example, they can often achieve significant cost savings by streamlining their operations. Additionally, businesses that upgrade or expand their physical infrastructure can often see an increase in production capacity and sales volume.

While there are many potential benefits to capital expenditures, there are also some risks involved. One risk is that businesses may not be able to recoup the costs of these investments through increased productivity or sales volume. Additionally, if a company chooses an inappropriate investment option it could lead to decreased efficiency and lost profits.
In spite of these risks however,. Capital Expenditures offer many opportunities for growth which is why all successful businesses should take them into account when making strategic decisions.

A lack of proper capital expenditure planning can lead to several negative consequences for a business. For example, if a company does not have updated technology it may fall behind its competitors. In addition, if a company does not have enough property or facilities it may not be able to meet customer demand or expand its operations. Finally, without properly maintained equipment there is an increased risk of accidents and injuries in the workplace.

It is clear that capital expenditures are essential for any business looking to grow and be successful in the long run. Allocating appropriate funds for these purposes should be a top priority for any organization.

There is no doubt that **Capital Expenditures** are important for any company. Funds used by a company to acquire, upgrade, and maintain physical assets such as property, plants, buildings, technology...

Capital Expenditure

A **Red Herring** is a term used to describe a piece of information or a statement that is designed to distract or mislead people, especially in the context of a discussion or debate. It is called a "red herring" because the phrase is often used to describe a type of fish that has a strong, pungent odor and is used to distract hunting dogs by dragging it across a trail, thereby leading the dogs away from their intended target. 

In a similar way, a red herring is something that is introduced into a discussion or debate in order to distract or mislead people and draw their attention away from the main issue at hand.


A **Red Herring** is a term used to describe a piece of information or a statement that is designed to distract or mislead people, especially in the context of a discussion or debate. It is called a "...

Red Herring

**West Texas Intermediate (WTI)** is a type of crude oil used as a benchmark in oil pricing and trading. WTI is extracted from oil wells in the Permian Basin region of West Texas and is considered to be a light, sweet crude oil due to its low density and sulfur content. It is one of the most widely traded and recognized crude oil benchmarks in the world.

WTI prices are closely watched by traders and investors because they provide insight into the overall health of the global economy. A higher price for WTI indicates strong demand for oil, which usually corresponds to economic growth. Conversely, a lower price indicates weak demand and can be an early indicator of an impending recession. 

The current price of WTI crude oil is $60 per barrel, which is up from its recent lows but still below its highs from earlier this year. The volatility in prices has been driven by concerns about trade tensions between the United States and China as well as worries about oversupply in the market. Despite these concerns, analysts believe that global demand will continue to grow in 2019, which should support higher prices for WTI crude oil.


WTI is used as a benchmark for the price of oil because it serves as a representation of the global oil market. Its price reflects the supply and demand dynamics of the world oil market, and it is used as a reference point for pricing other crude oils, petroleum products, and refined products such as gasoline and diesel fuel.

WTI is traded on several major commodity exchanges, including the New York Mercantile Exchange (NYMEX) and the Intercontinental Exchange (ICE). The NYMEX is the primary exchange for WTI futures contracts, which are used by market participants to hedge against price risks and speculate on the future price of oil. The futures contracts are settled daily based on the spot price of WTI, which is determined by the market price of physical deliveries of WTI crude oil at the Cushing, Oklahoma storage and delivery point.

The WTI benchmark is also used to price physical barrels of crude oil. Physical barrels of WTI are sold at the Cushing delivery point and are used as a benchmark for determining the price of oil for delivery to refineries in the United States and other countries. The WTI price is also used as a reference for determining the prices of other crude oils, such as Brent crude oil, which is used as a benchmark for pricing crude oil in Europe, Africa, and the Middle East.

WTI is considered to be an important benchmark for the global oil market because it provides a clear and transparent representation of the supply and demand dynamics of the market. Its price is widely quoted in the financial and energy industries, and it is used by governments, central banks, and investors to monitor and make decisions about the oil market.

In conclusion, West Texas Intermediate (WTI) is a type of crude oil that is widely recognized and used as a benchmark for the price of oil. It is extracted from the Permian Basin region of West Texas and is considered to be a light, sweet crude oil. WTI is traded on several major commodity exchanges and is used to price physical barrels of crude oil, as well as futures contracts. Its price is widely quoted in the financial and energy industries and is used as a reference point for pricing other crude oils and petroleum products.


**West Texas Intermediate (WTI)** is a type of crude oil used as a benchmark in oil pricing and trading. WTI is extracted from oil wells in the Permian Basin region of West Texas and is considered to ...

West Texas Intermediate (WTI)

**WTI Crude Oil (US Oil) Analysis**

![WTI Crude Oil (US Oil)](https://res.cloudinary.com/forex-overflow/image/upload/v1678694739/fx-overflow-assets/d5ovzxr0leqbe2ckxa8f.png)

**Economic Events and Scenario for WTI Crude Oil (US Oil)**  

**Economic Events: -**
| GMT |  | Event |Currency  |
  | - | -: | :- | :-: |
  |13:00 |-  |(Ecuador) Balance of Trade| USD |
  |15:00 |-  |(United States) Consumer Inflation Expectations| USD |
  |15:30 |-  |(United States) 3-Month Bill Auction| USD |
  |15:30 |-  |(United States) 6-Month Bill Auction| USD |
***
**Today's Scenario: -** WTI crude oil is currently trading around $77.00 as buyers face challenges in taking advantage of the overall risk-on sentiment and weakness in the US Dollar during early Monday. Despite this, the commodity is holding steady after bouncing back from a support line on the previous day. Traders are now awaiting the monthly oil market reports from the US Energy Information Administration (EIA) and the Organization of the Petroleum Exporting Countries (OPEC) to assess the market sentiment and potential price direction.
***
**Buy Scenario: -** If WTI crude oil manages to maintain a steady rise above the level of $76.71, it could indicate the presence of buyers in the market. In this scenario, we could see a labored rally with a target of $77.52 as the first resistance level, followed by a resistance cluster ranging from $78.18 to $78.29. Additionally, there is another 50% level of resistance at $78.83 that may come into play.  Till we do not advise to buy in crude oil.
***
**Selling Scenario: -** If WTI crude oil is unable to sustain its move above $76.71, it could indicate the presence of sellers in the market. This could lead to a potential retest of the support level at $74.96, followed by the main bottom at $74.17. A break below this level could signify a change in the main trend and potentially fuel further selling pressure, with the next support cluster seen at $73.03 - $73.05. Till will did not advise to sell WTI Crude oil.
***
**Support and Resistance Level: -**
| Support |   |   | Resistance   |
  | - | -: | :- | :-: |
  | S1 92.93 | - | | R1 105.59 |
  | S2 90.06 | - | | R2 108.75 |
  | S3 85.41 | - | |R3 116.64 |


**WTI Crude Oil (US Oil) Analysis**

![WTI Crude Oil (US Oil)](https://res.cloudinary.com/forex-overflow/image/upload/v1678694739/fx-overflow-assets/d5ovzxr0leqbe2ckxa8f.png)

**Economic Events and Sc...

Daily Analysis For WTI Crude (US Oil)  13-03-2023

A **Naked Put**, also known as an uncovered put or short put, is a type of options trading strategy in which a trader sells a put option without having a short position in the underlying asset. This means that the trader is essentially "betting" that the price of the underlying asset will not fall below the strike price of the put option.

**Here's how it works: -**

1-	The trader sells a put option at a certain strike price and receives a premium from the buyer.

2-  If the price of the underlying asset stays above the strike price, the option will expire worthless, and the trader will keep the premium as profit.

3-  If the price of the underlying asset falls below the strike price, the buyer of the put option will exercise their right to sell the underlying asset at the strike price. The trader will then be obligated to buy the underlying asset at the strike price, potentially incurring a loss.

It's important to note that the naked put strategy is considered to be a high-risk strategy, as the trader can potentially lose more than the premium received if the price of the underlying asset falls below the strike price. Therefore, it is recommended that traders only use this strategy if they have a high level of risk tolerance and are comfortable with potentially incurring significant losses.

In summary, A naked put, also known as an uncovered put or short put, is a type of options trading strategy in which a trader sells a put option without having a short position in the underlying asset, this means that the trader is essentially "betting" that the price of the underlying asset will not fall below the strike price of the put option. The strategy is considered to be a high-risk strategy, as the trader can potentially lose more than the premium received if the price of the underlying asset falls below the strike price.


A **Naked Put**, also known as an uncovered put or short put, is a type of options trading strategy in which a trader sells a put option without having a short position in the underlying asset. This m...

Naked Put

The **United Nations Commission on International Trade Law (UNCITRAL)** is a subsidiary body of the United Nations General Assembly established in 1966. Its primary purpose is to promote the harmonization and modernization of international trade law, with the goal of facilitating the flow of international trade and promoting economic development.

UNCITRAL develops and maintains a range of legal instruments and guidelines in the area of international trade law, including the UN Convention on Contracts for the International Sale of Goods (CISG) and the Model Law on International Commercial Arbitration. These instruments are designed to provide a common legal framework for international trade transactions, making it easier for businesses to conduct cross-border trade and reducing the risk of disputes.

UNCITRAL also provides technical assistance to countries that are in the process of modernizing their trade laws, and it provides a forum for the exchange of information and best practices among experts in the field of international trade law.

UNCITRAL has a membership of 60 countries, which are elected by the General Assembly for a six-year term. The Commission meets annually and is assisted by a secretariat located in Vienna, Austria.

In conclusion, the United Nations Commission on International Trade Law is a specialized body of the United Nations focused on promoting the harmonization and modernization of international trade law. Its legal instruments and guidelines, as well as its technical assistance and information-sharing activities, serve to support the flow of international trade and promote economic development.


The **United Nations Commission on International Trade Law (UNCITRAL)** is a subsidiary body of the United Nations General Assembly established in 1966. Its primary purpose is to promote the harmoniza...

United Nations Commission on International Trade Law (UNCITRAL)

**ECDSA** is an acronym for **Elliptic Curve Digital Signature Algorithm**. It's a cryptographic algorithm used to generate a key pair in public key cryptography. The curve used is an elliptic curve over a finite field, and the signature scheme is based on the discrete logarithm problem.

**ECDSA** is an acronym for **Elliptic Curve Digital Signature Algorithm**. It's a cryptographic algorithm used to generate a key pair in public key cryptography. The curve used is an elliptic curve o...

ECDSA

**EUR/USD Analysis**


![EUR/USD](https://res.cloudinary.com/forex-overflow/image/upload/v1684383878/fx-overflow-assets/qnt7xrjxxh1f2zjl2qz8.png)

**Economic Events and Scenario for EUR/USD**

**Economic Events: -**
| GMT | Event | Impact |Currency |
  |:-:| :-| :- | :- |
| 00:50	| (Japan) Foreign Bond Investment	| Low	| JPY |
| 00:50	| (Japan) Stock Investment by Foreigners	| Low	| JPY |
| 00:50	| (Japan) Imports YoY	| Low	| JPY |
| 00:50	| (Japan) Exports YoY	| Medium	| JPY |
| 00:50	| (Japan) Balance of Trade	| High	| JPY |
| 01:00	| (Austria) Ascension Day	| None	| EUR |
| 01:00	| (Belgium) Ascension Day	| None	| EUR |
| 01:00	| (Euro Area) Ascension Day	| None	| EUR |
| 01:00	| (Finland) Ascension Day	| None	| EUR |
| 01:00	| (France) Ascension Day	| None	| EUR |
| 01:00	| (Germany) Ascension Day	| None	| EUR |
| 01:00	| (Luxembourg) Ascension Day	| None	| EUR |
| 01:00	| (Netherlands) Ascension Day	| None	| EUR |
| 01:00	| (Switzerland) Ascension Day	| None	| CHF |
| 02:30	| (Australia) Part Time Employment Chg	| Medium	| AUD | 
| 02:30	| (Australia) Participation Rate	| Low	| AUD | 
|02:30	| (Australia) Full Time Employment Chg	| Medium	| AUD | 
|02:30	| (Australia) Unemployment Rate	| High	| AUD | 
| 02:30	| (Australia) Employment Change	| High	| AUD | 
| 04:00	| (East Timor) Inflation Rate YoY	| Low	| USD |
| 04:00	| (East Timor) Inflation Rate MoM	| Low	| USD |
| 04:35	| (Japan) 52-Week Bill Auction	| Low	| JPY |
| 07:30	| (Euro Area) ECB Guindos Speech	| High	| EUR |
| 09:00	| (Spain) Balance of Trade	| Medium	| EUR |
| 09:40	| (Spain) Obligacion Auction	| Low	| EUR |
| 09:40	| (Spain) 5-Year Bonos Auction	| Low	| EUR |
| 10:00	| (Euro Area) ECB President Lagarde Speech	| Medium	| EUR |
| 11:00	| (Portugal) PPI MoM	| Low	| EUR |
| 11:00	| (Portugal) PPI YoY	| Low	| EUR |
| 11:00	| (Slovakia) Unemployment Rate	| Low	| EUR |
| 11:30	| (Portugal) Private Consumption YoY	| Low	| EUR |
| 11:30	| (Portugal) Economic Activity YoY	| Low	| EUR |
| 13:30	| (United States) Philadelphia Fed Manufacturing Index	| Medium	| USD |
| 13:30	| (United States) Philly Fed Business Conditions	| Low	| USD |
| 13:30	| (United States) Philly Fed CAPEX Index	| Low	| USD |
| 13:30	| (United States) Philly Fed Employment	| Low	| USD |
| 13:30	| (United States) Philly Fed New Orders	| Low	| USD |
| 13:30	| (United States) Philly Fed Prices Paid	| Low	| USD |
| 13:30	| (United States) Initial Jobless Claims	| High	| USD |
| 13:30	| (United States) Jobless Claims 4-week Average	| High	| USD |
| 13:30	| (United States) Continuing Jobless Claims	| High	| USD |
| 13:30	| (Canada) New Housing Price Index YoY	| Medium	| CAD |
| 13:30	| (Canada) New Housing Price Index MoM	| Medium	| CAD |
| 14:05	| (United States) Fed Jefferson Speech	| Medium	| USD |
| 14:30	| (United States) Fed Barr Testimony	| Medium	| USD |
| 15:00	| (United States) Existing Home Sales MoM	| High	| USD |
| 15:00	| (United States) Existing Home Sales	| High	| USD |
| 15:00	| (United States) CB Leading Index MoM	| Low	| USD |
| 15:00	| (United States) Fed Logan Speech	| Medium	| USD |
| 15:30	| (United States) EIA Natural Gas Stocks Change	| Low	| USD |
| 16:30	| (United States) 8-Week Bill Auction	| Low	| USD |
| 16:30	| (United States) 4-Week Bill Auction	| Low	| USD |
| 18:00	| (United States) 10-Year TIPS Auction	| Low	| USD |
| 20:00	| (El Salvador) Balance of Trade	| Low	| USD |
| 23:45	| (New Zealand) Balance of Trade	| Medium	| NZD |
| 23:45	| (New Zealand) Exports	| Low	| NZD |
| 23:45	| (New Zealand) Imports	| Low	| NZD |
***
**Today's Scenario: -** The EUR/USD pair has experienced a slight recovery from its immediate support level of 1.0835 during the Asian trading session. This major currency pair is expected to gain further momentum as the US Dollar Index (DXY) has pulled back below 102.90 after a brief rebound.

During the Asian session, S&P500 futures recorded marginal losses, indicating a mild sense of caution in the overall market sentiment favoring riskier assets. On Wednesday, US equities witnessed significant buying activity, driven by President Joe Biden's confidence in raising the US debt ceiling. However, this approval is accompanied by a compromise that will result in a higher budget deficit.
***
**Buy Scenario: -** The EUR/USD pair is hovering around 1.0840 as the previous day's temporary recovery from a 1.5-month low diminishes in the early hours of Thursday.

Although the Euro pair managed to rebound from the 1.0800 level on Wednesday, supported by the downbeat RSI (14) conditions and the 100-day moving average (DMA), its upward momentum is restrained by a bearish MACD signal and cautious market sentiment ahead of a speech by European Central Bank (ECB) President Christine Lagarde. Additionally, concerns about a potential US default limit the buying interest in the pair.

Therefore, the recovery of the EUR/USD requires confirmation, with the 50-DMA and the support-turned-resistance line, which dates back to September 2022 and is located near 1.0900 at the moment, serving as a key level for further advances.

If the pair manages to surpass this level, it may face resistance near the early May low around 1.0940 and the February high around 1.1035, posing challenges for buyers. Moreover, multiple tops observed in April and May around 1.1090 and 1.1100 can also act as upside barriers,  till we do not advise to buy EUR/USD currency pair.
***
**Sell Scenario: -** On the downside, a daily close below the 100-DMA near 1.0800 would attract sellers in the EUR/USD pair. In such a scenario, the 23.6% Fibonacci retracement level of the pair's upward movement from September 2022 to April 2023, around 1.0725, could serve as an additional support.

It is important to note that a broad support zone encompassing various levels marked since November 2022, roughly between 1.0520 and 1.0480, presents a formidable obstacle for EUR/USD sellers.

To summarize, despite the recent corrective bounce, the EUR/USD pair is expected to maintain a bearish bias. Till then we do not advise selling EUR/USD.
***
**Support and Resistance Level: -**
| Support |   |   | Resistance   |
  | - | -: | :- | :-: |
  | S1 1.0810| - | | R1 1.0873|
  | S2 1.0778| - | | R2 1.0905|
  | S3 1.0746| - | | R3 1.0936|


**EUR/USD Analysis**


![EUR/USD](https://res.cloudinary.com/forex-overflow/image/upload/v1684383878/fx-overflow-assets/qnt7xrjxxh1f2zjl2qz8.png)

**Economic Events and Scenario for EUR/USD**

**Econo...

Daily Analysis For EUR/USD  18-05-2023

**GBP/JPY Analysis**

![GBP/JPY](https://res.cloudinary.com/forex-overflow/image/upload/v1675754015/fx-overflow-assets/ckautn1umpigzehi038s.png)

**Economic Events and Scenario for GBP/JPY**

**Economic Events : -**
| GMT |  | Event |Currency  |
  | - | -: | :- | :-: |
  |00:01 |-  |(United Kingdom) BRC Retail Sales Monitor YoY| GBP  |
  |03:35 |-  |(Japan) 30-Year JGB Auction| JPY  |
  |05:00 |-  |(Japan) Leading Economic Index| JPY |
  |05:00 |-  |(Japan) Coincident Index| JPY |
  |07:00 |-  |(United Kingdom) Halifax House Price Index YoY| GBP |
  |07:00 |-  |(United Kingdom) Halifax House Price Index MoM| GBP |
  |09:00 |-  |(United Kingdom) BoE Ramsden Speech| GBP |
  |10:00 |-  |(United Kingdom) 5-Year Treasury Gilt Auction| GBP |
  |10:15 |-  |(United Kingdom) BoE Pill Speech| GBP |
  |11:00 |-  |(United Kingdom) BBA Mortgage Rate| GBP |
  |15:30 |-  |(United Kingdom) BoE Cunliffe Speech| GBP |
  |23:50 |-  |(Japan) Bank Lending YoY| JPY |
  |23:50 |-  |(Japan) Current Account| JPY |
***
**Today's Scenario : -** Early on Tuesday, the GBP/JPY crosses to 159.40 while reversing the two-day advance. As a result, the cross-currency pair struggles against the 10-DMA barrier throughout a slow session, as shown by the erratic MACD.
***
**Buy Scenario : -** The GBP/JPY crosses to 159.40 early on Tuesday, reversing a two-day rise. As a result, as seen by the unstable MACD, the cross-currency pair battles the 10-DMA barrier throughout a sluggish session. The 160.00 round number and a downward-sloping resistance line from December 13, 2022, which was close to 160.15 at press time, look to be the GBP/JPY bears' final line of defence before the bulls take over. The previous monthly high and late December swing top, which are located respectively at 161.85 and 162.35, will then be the main points of interest, till we do not advise to buy GBP/JPY.
***
**Sell Scenario: -** On the other hand, the GBP/JPY price is restrained by the 61.8% Fibonacci retracement level of the cross-currency pair's upward movement from September to October 2022, which is close to 157.65. An upward-sloping support line from last September, which was at 156.85 at the time of press, is also serving as the main support. One cannot completely rule out a decline towards the previous monthly low of 155.35 should the GBP/JPY price remain lower past 156.85. Till we do not advise to sell GBP/JPY.
***
**Support and Resistance Level : -**
| Support |   |   | Resistance   |
  | - | -: | :- | :-: |
  |S1 158.21 | - | | R1 165.42 |
  | S2 155.75 | - | |R2 168.72 |
  | S3 151.87 | - | |R3 174.80 |


**GBP/JPY Analysis**

![GBP/JPY](https://res.cloudinary.com/forex-overflow/image/upload/v1675754015/fx-overflow-assets/ckautn1umpigzehi038s.png)

**Economic Events and Scenario for GBP/JPY**

**Econom...

Daily Analysis For GBP/JPY   07-02-2023

An **Investment Bank** is a financial institution that assists clients in raising capital by underwriting and issuing securities. Investment banks also provide advice on mergers, acquisitions, and other corporate finance transactions.

The modern investment banking industry has its roots in the early 19th century, when commercial banks began offering services to help companies raise capital. Investment banks typically work with large corporations and help them navigate the complex financial landscape.

Today, investment banks are a vital part of the global economy, helping companies raise capital to fuel growth and expansion. They play a critical role in facilitating economic activity and creating jobs.

An **Investment Bank** is a financial institution that assists clients in raising capital by underwriting and issuing securities. Investment banks also provide advice on mergers, acquisitions, and oth...

Investment Bank

**Gold (XAU/USD) Analysis**

![Gold (XAU/USD)](https://res.cloudinary.com/forex-overflow/image/upload/v1684395216/fx-overflow-assets/us9iszvmkiyqq7b5ezx2.png)

**Economic Events and Scenario for XAU/USD (GOLD)**

**Economic Events :-**
| GMT | Event | Impact |Currency |
  |:-:| :-| :- | :- |
| 00:50	| (Japan) Foreign Bond Investment	| Low	| JPY |
| 00:50	| (Japan) Stock Investment by Foreigners	| Low	| JPY |
| 00:50	| (Japan) Imports YoY	| Low	| JPY |
| 00:50	| (Japan) Exports YoY	| Medium	| JPY |
| 00:50	| (Japan) Balance of Trade	| High	| JPY |
| 01:00	| (Austria) Ascension Day	| None	| EUR |
| 01:00	| (Belgium) Ascension Day	| None	| EUR |
| 01:00	| (Euro Area) Ascension Day	| None	| EUR |
| 01:00	| (Finland) Ascension Day	| None	| EUR |
| 01:00	| (France) Ascension Day	| None	| EUR |
| 01:00	| (Germany) Ascension Day	| None	| EUR |
| 01:00	| (Luxembourg) Ascension Day	| None	| EUR |
| 01:00	| (Netherlands) Ascension Day	| None	| EUR |
| 01:00	| (Switzerland) Ascension Day	| None	| CHF |
| 02:30	| (Australia) Part Time Employment Chg	| Medium	| AUD | 
| 02:30	| (Australia) Participation Rate	| Low	| AUD | 
| 02:30	| (Australia) Full Time Employment Chg	| Medium	| AUD | 
| 02:30	| (Australia) Unemployment Rate	| High	| AUD | 
| 02:30	| (Australia) Employment Change	| High	| AUD | 
| 04:00	| (East Timor) Inflation Rate YoY	| Low	| USD |
| 04:00	| (East Timor) Inflation Rate MoM	| Low	| USD |
| 04:35	| (Japan) 52-Week Bill Auction	| Low	| JPY |
| 07:30	| (Euro Area) ECB Guindos Speech	| High	| EUR |
| 09:00	| (Spain) Balance of Trade	| Medium	| EUR |
| 09:40	| (Spain) Obligacion Auction	| Low	| EUR |
| 09:40	| (Spain) 5-Year Bonos Auction	| Low	| EUR |
| 10:00	| (Euro Area) ECB President Lagarde Speech	| Medium	| EUR |
| 11:00	| (Portugal) PPI MoM	| Low	| EUR |
| 11:00	| (Portugal) PPI YoY	| Low	| EUR |
| 11:00	| (Slovakia) Unemployment Rate	| Low	| EUR |
| 11:30	| (Portugal) Private Consumption YoY	| Low	| EUR |
| 11:30	| (Portugal) Economic Activity YoY	| Low	| EUR |
| 13:30	| (United States) Philadelphia Fed Manufacturing Index	| Medium	| USD |
| 13:30	| (United States) Philly Fed Business Conditions	| Low	| USD |
| 13:30	| (United States) Philly Fed CAPEX Index	| Low	| USD |
| 13:30	| (United States) Philly Fed Employment	| Low	| USD |
| 13:30	| (United States) Philly Fed New Orders	| Low	| USD |
| 13:30	| (United States) Philly Fed Prices Paid	| Low	| USD |
| 13:30	| (United States) Initial Jobless Claims	| High	| USD |
| 13:30	| (United States) Jobless Claims 4-week Average	| High	| USD |
| 13:30	| (United States) Continuing Jobless Claims	| High	| USD |
| 13:30	| (Canada) New Housing Price Index YoY	| Medium	| CAD |
| 13:30	| (Canada) New Housing Price Index MoM	| Medium	| CAD |
| 14:05	| (United States) Fed Jefferson Speech	| Medium	| USD |
| 14:30	| (United States) Fed Barr Testimony	| Medium	| USD |
| 15:00	| (United States) Existing Home Sales MoM	| High	| USD |
| 15:00	| (United States) Existing Home Sales	| High	| USD |
| 15:00	| (United States) CB Leading Index MoM	| Low	| USD |
| 15:00	| (United States) Fed Logan Speech	| Medium	| USD |
| 15:30	| (United States) EIA Natural Gas Stocks Change	| Low	| USD |
| 16:30	| (United States) 8-Week Bill Auction	| Low	| USD |
| 16:30	| (United States) 4-Week Bill Auction	| Low	| USD |
| 18:00	| (United States) 10-Year TIPS Auction	| Low	| USD |
| 20:00	| (El Salvador) Balance of Trade	| Low	| USD |
| 23:45	| (New Zealand) Balance of Trade	| Medium	| NZD |
| 23:45	| (New Zealand) Exports	| Low	| NZD |
| 23:45	| (New Zealand) Imports	| Low	| NZD |
***
**Today's Scenario: -** Gold price (XAU/USD) is holding onto slight gains around $1,985 as it rebounds from its lowest levels in three weeks. The recent downtrend has halted for now, thanks to the US Dollar's struggle to extend its recent rally to multi-day highs. Market sentiment remains mixed due to concerns over the US default situation and worries about declining retail sales in the US.

US President Joe Biden and House Speaker Kevin McCarthy's efforts to assure the markets that they will work together to prevent a "catastrophic" default have helped boost risk appetite and supported the US Dollar. The greenback's strength has also been influenced by mostly positive US data and hawkish comments from Federal Reserve officials.
***
**Buy Scenario: -** Gold price (XAU/USD) has rebounded from a three-week low, supported by oversold conditions indicated by the RSI (14) and bullish signals from the MACD. However, the bulls are facing strong resistance around $1,995, where the 50-hour moving average and the support-turned-resistance line from April 27 converge.

Even if XAU/USD manages to surpass $1,995, further hurdles await at the psychological level of $2,000 and the previous resistance line from May 3, around $2,010.  Till we did not advise to buy XAU/USD.
***
**Selling Scenario: -** On the downside, a sustained pullback in Gold price is unlikely unless it breaks below the horizontal support area established over the past three weeks, roughly between $1,975 and $1,974.

Additional support levels can be found near the mid-April low around $1,969 and the previous monthly bottom around $1,950.

In summary, the Gold price recovery remains limited below $2,010. We do not advise selling XAU/USD.
***
**Support and Resistance Level: -**
| Support |   |   | Resistance   |
  | - | -: | :- | :-: |
  | S1 1973.60| - | | R1 1991.66|
  | S2 1965.30| - | | R2 2001.42|
  | S3 1955.54| - | | R3 2009.72|


**Gold (XAU/USD) Analysis**

![Gold (XAU/USD)](https://res.cloudinary.com/forex-overflow/image/upload/v1684395216/fx-overflow-assets/us9iszvmkiyqq7b5ezx2.png)

**Economic Events and Scenario for XAU/U...

Daily Analysis For GOLD (XAU/USD) 18-05-2023

A **Bank Stress Test** is a critical analysis of a financial institution’s ability to withstand negative economic conditions. The goal of these tests is to ensure that banks have enough capital in reserve to cover any potential losses during times of recession or market instability. In the United States, all banks with assets totaling $50 billion or more are required to undergo regular stress tests conducted by their own risk management teams and the Federal Reserve.

Bank stress tests were put in place after the 2008 financial crisis as a way to prevent future meltdowns. Many banks and other financial institutions were left severely under capitalized after the crisis, which revealed their vulnerability to market crashes and economic downturns. As a result, federal and financial authorities greatly expanded regulatory reporting requirements focused on adequacy of capital reserves and internal strategies for managing capital levels. Banks must now regularly determine their solvency and document it accordingly.

A **Bank Stress Test** is a critical analysis of a financial institution’s ability to withstand negative economic conditions. The goal of these tests is to ensure that banks have enough capital in res...

Bank Stress Test

Gann fans are a form of technical analysis based on the idea that the market is geometric and cyclical in nature. A Gann fan consists of a series of lines called Gann angles. These angles are superimposed over a price chart to show potential support and resistance levels. The primary purpose of this charting technique is to identify potential swing highs and lows for traders who use this approach.

If you ask any Gann fan if they're an expert, they'll probably tell you yes. They are experts at reading charts, finding out where support and resistance levels lie and drawing lines based on this information. They have hundreds of charts that tell them when to buy and sell stocks.

**Diagram of Gann Fan**
![Gann Fan](https://res.cloudinary.com/forex-overflow/image/upload/v1661365851/fx-overflow-assets/snyfehh4lke50zomuvko.png)

These angles were developed by William Gann, who developed a pattern recognition system based on fractal geometry. Gann fans aren't just a bunch of nerds with terminal cases of neckbeard; they are an extremely effective form of technical analysis for finding support and resistance levels and setting trading ranges. For a full review, I recommend reading this fantastic article on the subject.

Technical analysis is one of the oldest and most utilized methodologies in trading. It can be used on stocks, commodities and forex markets. Technical analysis is based on the idea that price follows a typical trajectory: it rises and falls to form a ratio between supply and demand; ideally at a minimum loss or maximum gain.

Gann fans are a form of technical analysis based on the idea that the market is geometric and cyclical in nature. A Gann fan consists of a series of lines called Gann angles. These angles are superimp...

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