After consolidating during the early hours of Thursday's trading session, the EUR/USD pair revealed its course. It is going even higher on Friday.
The Bank of England left its monetary policy unchanged at its March meeting on Thursday.
The yellow metal has extended its gains into Thursday's trading session. However, it encountered notable resistance by the middle of the day and began to consolidate.
The common European currency jumped against the US Dollar on fundamental news from the Fed and the elections in the Netherlands. Due to that reason on Thursday morning the pair is consolidating.
The British unemployment rate hit its lowest level since 1975 in the three-month period to January, while the number of Britons filing for unemployment benefits dropped for the third consecutive month in February.
As analysts expected, the US Federal Reserve raised interest rates at its March monetary policy meeting on Wednesday amid rising inflation, solid economic growth and the strong labour market.
The seasonally adjusted Producer Price Index for final demand rose 0.3% in February, the Bureau of Labour Statistics revealed on Tuesday.
The seasonally adjusted Producer Price Index for final demand rose 0.3% in February, the Bureau of Labour Statistics revealed on Tuesday.
From both technical and fundamental perspectives the currency exchange rate is set to fall by the end of the day
The yellow metal awaits the Federal Reserve to announce its decision on the Federal Funds Rate. However,
The US private sector created more jobs than expected last month, providing support for a Fed interest rate hike on Wednesday.
The number of Americans filing for unemployment benefits rose more than expected last week, official figures showed on Thursday.
The yellow metal's price after all retreated back to previous levels, as the bullion trades indecisively near the 1,200 mark, which in accordance with some analysts is a psychological support level to the commodity price.
The surge of the Euro against the Greenback reversed itself during Monday's trading session, and the decline of the rate continue into Tuesday's trading.
The US private sector created more jobs than expected last month, providing support for a Fed interest rate hike on Wednesday.
In January, British total production experienced a 0.4% decrease compared to the previous month, the Office for National Statistics revealed on Friday.
It seems like the rebound of the yellow metal is occurring after all, as the medium term descending channel has been broken on Monday. However, the financial markets throughout the week will be more concentrated on fundamental events,
During the early hours of Monday's trading session the common European currency extended its gains against the US Dollar, as the currency exchange rate reached above the 1.07 mark.
The US private sector created more than expected jobs last month, surprising markets.
The number of Americans filing for unemployment benefits rose more than expected last week, official figures showed on Thursday.
During the early hours of Friday's trading session gold price fell below the last support level at 1,199.19 before the 1,182.37 mark, where the 23.60% Fibonacci retracement level is providing support.
The expected reversal of the EUR/USD currency exchange rate has occurred, as the pair has bounced upwards and already erased this week's losses.
The US private sector created more than expected jobs last month, surprising markets.
The yellow metal's price continues to decline on Thursday. However, it is highly possible that a rebound might occur soon.