Gold bugs investing again, seeking a break of June swing highs and a close above 1430. Price has soared through the symmetrical triangle's resistance and bulls remain in control. Gold prices have soared through the symmetrical triangle's resistance and bulls remain in control, pressing towards 25th June and 3rd July tops. Gold is currently trading at 1436, +0.69% on the day, having travelled between $1,414.70 and $1,436.94 on the day so far. The moves come as the market price back in the likelihood of a prolonged trade war between the U.S. and China with tit for tat headlines creeping their way back through with Trump threatening additional tariffs on Chinese imports. Additional, we dovish central bank expectations baked into the gold cake, and Federal Reserve William's was recently crossing the wires, advocating a vaccine shot of easier monetary policy. Fed's Williams: Better to take preventative measures -RTRS U.S. stocks are also taking a hit, weeping ba..

Greenback tumbles after Fed’s Williams says it better to cut preventative that wait for disaster. US Dollar Index (DXY) erases weekly gains, drops back below 97.00. The greenback tumbled across the board, even against Emerging market currencies following comments from Fed’s Williams supporting a rate cut strongly. According to him, it is better to take preventative measures on interest rates than to wait for disaster to unfold. He added there might structural factors causing a decline in inflation expectations. Equity prices in Wall Street surged with main indexes erasing losses; while US bonds rose. The 10-year yield dropped back to 2.04%, approaching weekly lows. The DXY fell below 97.00 and bottomed at 96.82, the lowest since Monday. The index is back at the same level it had at the beginning of the week, after falling 0.65% from yesterday’s highs. At the same time, EUR/USD surged to 1.1270 after trading earlier today near 1.1200; GBP/USD climbed to 1.2530 and USD/JPY fell to..

Federal Reserve Williams is continuing to speak. Key comments: The natural rate of unemployment could be around 4%; Sees the link between economic strength and inflation; Inflation expectations are ‘far more anchored’ compared to 25 years ago; Standard inflation targeting approach may anchor inflation expectations too low. Concerned inflation expectations are anchored too low. Risk of lower rates risks asset bubbles and excessive credit. Would be worrisome if we are seeing a persistent decline in inflation expectations. Concerned there might be a structural matter causing the decline in inflation expectations. We have an economy growing above trend. Prior comments on the session: It is better to take preventative measures on rates than to wait for disaster to unfold; Says research shows that when neutral rates are low you should not 'keep your powder dry'; Says policymakers must move more quickly to vaccinate the economy and add monetary stimulus when rates ..

EUR/USD accelerates as the US Dollar falls across the board. Despite hitting fresh highs versus USD, the Euro is down against GBP, JPY, and CHF. The EUR/USD extended the move to the upside over the last hour, amid a decline of the US Dollar across the board after comments from Fed’s Williams. He mentioned that it is better to take preventative measures on rates than to wait for disaster to unfold. After William’s comments, US yields dropped to daily lows, and the US Dollar turned sharply lower. The EUR/USD pair printed fresh daily highs on top of 1.1250. Earlier today the pair dropped following a report from Bloomberg mentioning that the European Central Bank is considering modifying its inflation target. The common currency is still down for the day versus its European’s rivals. The EUR/USD found support above 1.1200 and rebounded, rising back to 1.1230. Recently it accelerated to the upside, breaking Asian session highs and climbed to 1.1268, the highest level since Tuesday. ..

Plan would allow enhanced, permanent nuclear inspections. Foreign minister: ‘It’s not about photo ops. We want substance’. The Guardian has reported that Iran has offered a deal with the US in which it would formally and permanently accept enhanced inspections of its nuclear programme, in return for the permanent lifting of US sanctions. The offer was made by the Iranian foreign minister, Mohammad Javad Zarif, on a visit to New York. But it is unlikely to be warmly received by the Trump administration, which is currently demanding Iran make a range of sweeping concessions, including cessation of uranium enrichment and support for proxies and allies in the region. Zarif insisted, however, that his offer was “a substantial move”. Headlines such as these offer positive implications for a resolution to the standoff between the U.S. and Iran and will likely weigh on the price of oil as speculative and temporary long postions get squeezed out of the market. For FX, long positions in saf..

Beijing is unlikely to use its US Treasury holdings as a weapon. China, now basking in an impressive 6.3 percent economic GDP growth rate in the first half of 2019. The Global Times has reported that the tit-for-tat trade conflict between the US and China of a magnitude and endurance the world has rarely witnessed before has entered a stalemate or seesaw phase. Key points from the article: Both Beijing and Washington are seen entrenching deeper, refusing to yield any ground. The months-long tussle, ignited by the US government in its desperate desire to impede and hold back China's growth, is actually a stress test for China's policymaking apparatus to steer the second-largest economy down a path of ad hoc responses, adaptation, regaining resilience and finally, counterattacks. Lately US President Donald Trump renewed his gambit by threatening to levy more tariffs on $325 billion worth of Chinese goods. hardly any Chinese economists or ordinary residents were unner..

Federal Reserve Williams has crossed the wires, advocating for a rate cut. Policymakers must move more quickly to vaccinate the economy. Fed's Williams says that if inflation gets stuck below the goal, people's expectations may push inflation lower, reducing fed's ability to be effective - Reuters news reported. Fed's Willaims says: It is better to take preventative measures on rates than to wait for disaster to unfold; Says research shows that when neutral rates are low you should not 'keep your powder dry'; Says policymakers must move more quickly to vaccinate the economy and add monetary stimulus when rates are close to zero; Says when rates are near zero, policymakers cannot afford to take a wait and see approach; Says lower-for-longer rates foster good financial conditions, allow stimulus to pick up steam, allows inflation to rise; Says promising temporarily higher inflation after rates touch zero can offset nearly all negative effects of ..

The Research Department at BBVA, points out that GDP growth recovered in 1Q19 in three major areas but slowed in most other countries while signs of an ongoing moderation remain. Key Quotes: “Global growth continues in a smooth downward path (BBVA-GAIN: steady 0.8% QoQ in 2Q19), led by the weakness of the industrial sector and exports in a context high uncertainty on trade tensions. Domestic demand remains broadly resilient across regions, but is growing at a more moderate pace, with increasing concerns of negative spillover effects from the manufacturing sector.” “With persistent uncertainty and low inflation, major central banks (Fed and ECB) have reassessed their monetary policy stance and consider new stimulus measures. We revise downward World GDP growth forecasts by 0.1pp to 3.3% in both 2019 and 2020. The impact of trade tensions is already apparent, and could be sizeable in the long term.” “US activity should gradually lose momentum towards its potential growth rate suppo..

Gold is tradinag at multi-month highs above its main DSMAs. The level to beat for bulls is the 1,430.00 resistance. Gold daily chart Gold is trading above its main daily simple moving averages (DSMAs) as the bulls are challenging the 1,430.00 resistance. Gold 4-hour chart The market is trading above the main SMAs suggesting a bullish bias in the medium term. If bulls can overcome the 1,430.00 resistance the market coule reach 1,440.00 on the way up. Gold 30-minute chart A failure above 1,430.00 can lead to a potential retracement down towards 1,420.00 and 1,414.00 and the 1,400.0 handle. Additional key levels

GBP/USD has rallied from 27-month lows on solid data and positive Brexit noise. Still room to the upside despite a bearish bias to below 1.22 handle. GBP/USD has been quite active towards the end of the week, with a steep decline yesterday to a 27-month low, while, today, a solid rebound of almost 100 pips. UK data was ignored at the start of the week, with Tuesday's earnings above forecast and unemployment coming in solid. However, the talks of the removal of the Irish backstop from any deal resulted in a drop to a fresh 2019 low vs the buck, the lowest since April 2017 - The candidates to replace PM May are indeed more aggressive with their tactics and the likely election of Boris Johnson as the next Conservative leader will add pressure to GBP - both potential leaders, Hunt and Johnson, have said that PM 'May's deal is dead'. However, the bearish tone around the Dollar has started to factor in on the upside since Trump made warnings over more tariffs on Chine..

The ECB and Italy’s politics keep the sentiment negative on the EUR. The level to beat for sellers are located at 1.1200 followed by 1.1164 to the downside. EUR/USD daily chart EUR/USD is in a bear trend below the main daily simple moving average (DSMA). The ECB (European Central Bank) might reconsider its inflation target. Italy 5-Star Movement’s Di Maio said the Lega could overthrow the government. All adding to the negative sentiment on the EUR. EUR/USD 4-hour chart EUR/USD is constrained below the1.1230 resistance and the main SMAs. Bears need a break below 1.1200 to reach 1.1164 and 1.1120, according to the Technical Confluences Indicator. EUR/USD 30-minute chart EUR/USD is under pressure below 1.1230 and the 50 SMA. Immediate resistances can be seen at 1.1230 and 1.1250, according to the Technical Confluences Indicator. Additional key levels

USD/CAD is hovering close to multi-month lows. On a recovery scenario, the levels to beat for buyers can be near 1.3050 and 1.3080/1.3100. USD/CAD daily chart USD/CAD is under bearish pressure near multi-month lows as the market is capped below 1.3100 and the main daily simple moving averages (DSMAs). USD/CAD 4-hour chart USD/CAD is trading between the 50 and 100 SMAs suggesting a consolidation in the medium-term. Bulls need to overcome 1.3100 to reach 1.3150/70 on the way up, according to the Technical Confluences Indicator. USD/CAD 30-minute chart USD/CAD is trading above its main SMAs suggesting bullish momentum in the near term. Support is seen at 1.3080, 1.3050 and 1.3015, according to the Technical Confluences Indicator. Additional key levels