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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

71% of retail investor accounts lose money when trading CFDs with this provider.

Market Insights

Trading Insights: Gold strengthens; USD weakens; US inflation expectations fall to 4.4%

Trading Insights: Gold strengthens; USD weakens; US inflation expectations fall to 4.4%

Gold strengthens; USD weakens Chart 1 Source: Tradingview May 09 2023 6:13 UTC

The above chart illustrates US inflation expectations at the one year ahead outlook.

Market Talk

Good news for consumers, better news for investors? US one year ahead consumer inflation expectations move lower


Today’s trading bullets

  • Gold price seven month uptrend seems to be holding firm; current price $2,026, all-time highs in sight at $2,075, downside risk below $1,986.

gold

  • Crude oil remains vulnerable towards the downside despite the recent upside move, current price $72.69, resistance at $77.70, support near $63.57 (52 week low).

Crude oil

  • SPX500 Index current price $4,133 holding above its 50 day moving average (bullish), prospects for $4,354 as upside extension; downside risk below $3,953.

SPX 500

  • GBP/USD current price 1.2630 remains in an uptrend, higher tops and higher bottoms on price (dow pattern daily chart), the focus is on the 1.2670s resistance area which if cleared places 1.3140s as a prospective extension, downside risk seen below the 1.23380s.

GBP/USD Source: Tradingview May 9 2023 6:42 UTC


Today’s economic calendar

Today’s economic calendar Source: TradingView / J. Knobel May 09 2023 5:56 UTC

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Not investment advice. Past performance does not guarantee or predict future performance.