FxWirePro: USD/JPY firms as Japanese Yen weakens after BoJ rate hike 
FxWirePro: GBP/AUD dive post-CPI short-lived as traders prepare for BoE decision 
EURJPY Surges Post-BOJ Hike: Bullish Momentum Builds – Buy Dips Targeting 185 
FxWirePro: NZD/USD dips as stronger U.S. dollar offsets NZ Q3 GDP surprise 
FxWirePro: USD/ZAR neutral in the near-term, scope for downward resumption 
FxWirePro: USD/CNY neutral in the near-term, scope for downward resumption 
EUR/JPY Holds Bullish Bias Post-ECB Pause: Buy Dips Toward 185 as 182 Support Stands Firm 
NZDJPY: Sell the Rallies as Bears Guard 90–91 Resistance Zone 
FxWirePro: GBP/USD climbs above 1.34 after BoE's relatively hawkish cut 
GBP/JPY Surges Post-BoE Cut: Bullish Momentum Eyes 210 as Support Holds at 207.80 
USDCHF Triple Bottom at 0.7920 Under Threat: Bearish Signals Dominate – Sell Rallies Targeting 0.7865 
FxWirePro: EUR/AUD runs out of steam but maintains bullish outlook 
AUD/JPY Stalls Ahead of BOJ Decision: Sell on Rallies as Bearish Bias Holds Below 103.70 
FxWirePro: USD/CAD downtrend slows, but bearish sentiment remains 
FxWirePro: AUD/USD struggle to extend its recovery,good to sell on rally 
FxWirePro: GBP/AUD runs out of steam but maintains bullish outlook 
NZDJPY Whipsaws After BoJ Hike: Buy-the-Dip Setup Above 89 With Eyes on 92 
Ichimoku Analysis (4-hour chart)
Tenken-Sen- $1970.25
Kijun-Sen- $1969.76
Gold prices pared most of their gains on the strong US dollar. US Fed meeting minutes show that Fed members are divided over more rate hikes. Fed officials also mentioned that further rate hikes will be data-dependent. It hits a low of $1955 yesterday and is currently trading around $1957.60.
Markets eye progress in US debt negotiations deals for further direction.
Major economic data for the day
May 25th 2023, US Prelim GDP Q/Q (12:30pm GMT)
US unemployment claims
Pending home sales (2 pm GMT)
US dollar index- Bullish. Minor support around 102.30/101.50. The near-term resistance is 104.20/105.
According to the CME Fed watch tool, the probability of a 25 bpbs rate hike in June increased to 29.5% from 28.40% a week ago.
The US 10-year yield continues to trade higher for the second consecutive week. The US 10 and 2-year spread narrowed to -65.7% 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- Bullish (Bearish Mixed for gold)
Technical:
The near–term support is around $1950, a break below targets of $1935/$1900.The yellow metal faces minor resistance around $1970, and a breach above will take it to the next level of $2000/$2020/$2040/$2070/$2100/$2150.
It is good to sell below $1950 with SL around $1960 for TP of $1935/$1930.
