Commodities

The weekly trade levels that matter on the US Dollar Index, GBP/USD and USD/CAD charts this week.

Deteriorating steelmaker profitability, seasonal weakness and bearish technicals are weighing on iron ore. But with the price testing critical support, there's genuine two-way directional risk despite the substantial headwinds facing bulls.

Gold has bounced from a major inflection zone, but bulls still need follow-through as next week’s CPI report puts the recovery to the test.

As the trading week continues to unfold, gold is once again facing difficulties in regaining momentum in the short term. This can be seen in the performance of the last three trading sessions, where the metal has declined by approximately 0.9%, resuming a bearish dynamic that has once again become evident in recent market activity.

Gold is testing a major inflection zone as stretched downside momentum raises the risk for a reaction into key support.

WTI crude holds support as bearish momentum fades, while Brent shows relative strength and positioning hints at a possible rebound.

Gold bears remain in control as futures positioning weakens, but the 4,000 level could provide support and trigger a countertrend rebound.

Softer inflation has revived expectations for a Fed pause, but Friday’s payrolls could put gold’s recovery prospects to the test.

Having fallen 17% from its cycle highs in just five days and now holding above $90, perhaps it could be time for crude oil to bounce over the near term.

A hawkish Fed, surging short-dated Treasury yields and a firmer dollar failed to deliver the kind of damage usually seen in precious metals.

Gold is attempting to stabilize near a pivotal technical zone, with the Fed decision poised to provide the catalyst for the next major move.

WTI crude oil holds above $100, but bearish price action near resistance suggests the powerful rally may be losing momentum.