FxWirePro: EUR/NZD uptrend loses steam but outlook still bullish 
Aussie-Yen Holds Firm Post-BOJ Rate Boost: Intraday Bullish Momentum Intact 
FxWirePro: GBP/NZD retreats slightly but trend is still bullish 
FxWirePro: GBP/AUD runs out of steam but maintains bullish outlook 
GBPJPY Rockets Post-BOJ Hike: Bullish Surge to 210 in Sight – Buy Dips Targeting 212 
FxWirePro: USD/ZAR neutral in the near-term, scope for downward resumption 
FxWirePro:EUR/AUD eases but bullish outlook persists 
FxWirePro- Woodies Pivot(Major) 
CADJPY Pulls Back on Weak Canadian Retail Data: Dips to 113 Prime Buying Opportunity Targeting 116 
FxWirePro: GBP/USD dips lower on negative UK retail sales data 
NZDJPY Whipsaws After BoJ Hike: Buy-the-Dip Setup Above 89 With Eyes on 92 
USDCHF Triple Bottom at 0.7920 Under Threat: Bearish Signals Dominate – Sell Rallies Targeting 0.7865 
FxWirePro: USD/CAD downtrend slows, but bearish sentiment remains 
FxWirePro: GBP/AUD moves lower on weak UK data 
FxWirePro- Major Pair levels and bias summary 
FxWirePro- Major European Indices 
Ichimoku Analysis (4-hour chart)
Tenken-Sen- $2014.82
Kijun-Sen- $2024.62
Gold prices consolidating in a narrow range between $2022 and $2001 for the past two days. The standoff in US debt ceiling negotiations supporting the yellow metal at lower levels. Markets eye US debt limit extension talks between the white house and Congress. It hits an intraday high of $2022.15 and is currently trading around $2016.36.
The US empire state manufacturing index fell 42.6 points to negative 31.80 numbers.
Major economic data for the day
May 16th, 2023, US retail sales (12:30 pm GMT)
US dollar index- Bullish. Minor support around 102.30/101.50. The near-term resistance is 102.80/103.40.
According to the CME Fed watch tool, the probability of a 25 bpbs rate hike in June increased to 21.90% from 15.5% a week ago.
The US 10-year yield trading in a narrow range ahead of US retail sales. The US 10 and 2-year spread narrowed to -50.5% from -108%.
Factors to watch for gold price action-
Global stock market- bullish (negative for gold)
US dollar index - Bullish (negative for gold)
US10-year bond yield- Mixed (neutral for gold)
Technical:
The near–term support is around $2000, a break below targets of $1970/$1955/$1935.The yellow metal faces minor resistance around $2040, and a breach above will take it to the next level of $2070/$2100/$2150.
It is good to buy on dips around $1970 with SL around $1950 for TP of $2070/$2100.
