fbpx

Register for MT4 Demo Account

Register for xStation Account

Oil extends gains as OPEC+ extends cuts, US index steady ahead of Super Tuesday, NZD awaits US data

By Research Team Monday, Mar 4, 2024
NZD/USD

Daily Outlook

    • 11:49AMD1
    • High0.6113
    • Low0.60936
    • Close0.60984

NZD/USD is trading at , 0.14% down since previous day close. The New Zealand Dollar (NZD) has lost ground amid a stable US Dollar, with a trade deficit of 7.8% in Q4. The CME Fed Watch Tool suggests a 5.0% probability of Fed rate cuts in March, with May and June estimates at 26.8% and 53.8%, respectively. Investors are closely monitoring economic data releases and Federal Reserve Chair Jerome Powell’s speech for further insights. As seen in the chart, the pair is moving towards the support area, hence, a bearish moment is expected.

Read More… Read Less

Daily Outlook

NZD/USD

Intra Day
Near Day

Technical Levels

R3 0.6106
R2 0.6103
R1 0.6101
Turnaround 0.6098
S1 0.6095
S2 0.6093
S3 0.6090
By Research Team Monday, Mar 4, 2024
US100

Daily Outlook

    • 12:21PMD1
    • High18365.23
    • Low18327.48
    • Close18343.01

US100 is trading at 18349.90, 0.08% up since previous day close. Stock index futures in the US are showing signs of cooling, with Nasdaq 100 Futures steadying at 18,340.50 points. The S&P 500 and NASDAQ Composite rose to record highs, while the Dow Jones Industrial Average remained near a recent peak. Focus is now on Fed Chair Jerome Powell’s testimony and nonfarm payrolls data for February. Super Tuesday and the Presidential primaries are also in focus. As seen in the chart, the index is in an upside rally, hence a bullish moment is expected today.

Read More… Read Less

Daily Outlook

US100

Intra Day
Near Day

Technical Levels

R3 18364.59
R2 18360
R1 18354.34
Turnaround 18349.42
S1 18344
S2 18339
S3 18333
By Research Team Monday, Mar 4, 2024
GOLD

Daily Outlook

    • 12:50D1
    • High80.28
    • Low79.73
    • Close79.87

XAU/USD is trading at 2085.37, 0.12% up since previous day close. Gold price has paused following a strong positive move to a new year-to-date top, with slightly overbought RSI acting as a headwind. Traders are cautious due to key US data and event risks, including the disappointing release of the US ISM Manufacturing PMI and less-hawkish remarks by Fed officials. The downside for Gold remains cushioned due to optimism over Gaza ceasefire talks and hopes for additional stimulus measures from China. As seen in the chart, gold is hovering around the resistance zone, hence a breakout is expected, if breaches the level.

Read More… Read Less

Daily Outlook

GOLD

Intra Day
Near Day

Technical Levels

R3 2110
R2 2100
R1 2088
Turnaround 2070
S1 2057
S2 2050
S3 2040
footer-logo

XFlow Markets provides an entirely transparent access to the FOREX Market through two powerful trading platforms with excellent execution speed, a 24/5 client support system with no dealing desk involvement.

 

© 2024 XFlow Markets, All rights reserved.

Risk Warning: Leveraged trading in foreign currency contracts or other off-exchange products on margin carries a high level of risk and may not be suitable for everyone. We advise you to carefully consider whether trading is appropriate for you in light of your personal circumstances.

You may lose more than you invest. Information on this website is general in nature. We recommend that you seek independent financial advice and ensure you fully understand the risks involved before trading. Trading through an online platform carries additional risks.

 

XFlow Markets INC is incorporated in Saint Lucia with registration no. 2023/C088 governed by the Companies Act, Cap 13.01 of the revised laws of Saint Lucia.

XFlow Markets does not offer Contracts for Difference to residents of certain jurisdictions including the Belgium, Iran, Canada, North Korea, the USA, Cuba, Syria and FATF Black Listed Countries.

Telephone number: UAE: +971 43304431 Working hours: 7:00 AM - 5:00 PM (GMT+0)

XFlow Markets does not offer any fixed returns & guaranteed profits. Forex and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Your capital is at risk. Please consider our Risk Disclosure.

XFlow Markets does not guarantee any returns or profits. Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.