Global growth concerns, US slowdown signals, and shifting market dynamics. Our technical analysis covers US indices, major FX pairs, gold, and oil, providing insights for traders to navigate volatility and identify potential opportunities.
Gold rocketed to another fresh all-time ahead of FOMC
The OECD downgraded global growth to 3.1% in 2025 and 3% in 2026 due to an aggressive US trade tariff policy. In addition, retail sales in the US slowed to 3.1% y/y in February from 3.9% in the prior month, its slowest growth since October 2024, indicating a potential slowdown in US economic growth in the coming months.
The US benchmark stock indices rallied for the second consecutive session, but the mega-cap stocks did not take part in yesterday’s rally which suggests that the medium-term downtrend phases of the US stock indices remain intact.
The dollar strength resurfaced against the Japanese yen, but the overall medium-term trend of USD/JPY remains down potentially, with the Bank of Japan monetary policy meeting tomorrow where BoJ is expected to keep interest rates unchanged, and likely guide market participants for a potential interest hike in June or July.
Gold price may continue to accelerate due to the ongoing multi-week decline in the US 10-year Treasury real yield, with 2.10% as its key medium-term pivotal resistance.
The latest intraday technical analysis on US Wall Street 30, US Nas 100, Hong Kong 33, Japan 225, Germany 30, EUR/USD, GBP/USD, AUD/USD, USD/JPY, Gold (XAU/USD), and West Texas Oil can be found in our YouTube video above.
