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Treasure Secretary Bessent’s news conference to outline the Economic D-Day sanctions is scheduled sometime after noon EDT
Gold is building on last week’s breakout above the 200-day SMA, trading near 4,650, its highest level since mid- May. While the near-term bias remains 📈bullish and prices continue to track the upper Bollinger Band, the rally is approaching a key resistance hurdle at the 50% Fibonacci retracement of the 📉pullback from the record high.
BTCUSD 4 HOUR: PLAYING BOTH SIDES
Trend: UP
Momentum” UP
Fin XBITCOIN IS PLAYING BOTH SIDES Bitcoin is increasingly behaving as both a risk asset and a hedge against inflation, government debt and geopolitical uncertainty. That strengthens its long-term “hard asset” appeal, according to Zaye Capital Markets. But further gains will require genuine investor demand, not just traders closing bearish positions. Institutional inflows, regulatory progress and Treasury-market conditions could therefore become more important than momentum alone. strong>Source: Fin X on Newaquawk.com
Newsquawk Daily US Opening News – 24th August 2026
(Right click on any image (or chart) to open a full screen in a new tab)
Market Uppdate (1 hour charts)
RURUSD: Breaking bottom of 1.1669-1.1711 range but only a further break of 1.1650 would turn sentiment.
US500: Crrently stuck between 7600-7700 with upside limited unless the top end trades.
XTIUSD: Down on the day raises the question whether it has been trading bid in an offered market or vice versa (when it dips).
XAUUSD (GOLD) 4 HOUR: 4650 holds the key
Trend: UP Momentum: UP
With no resistance until 4778 except the most recent high (4660 today), here is a way to look at XAUUSDL
If 4650 is broken and becomes support, risk is for 4778 with 4800 a key target. If it fails to establish 4650 as support, momentum cools with range still bounded by 4500. In any case, needs to hold 4600 to maintain its current bid (actual support 4594).
Forex Market Snapshot
The dollar is starting the week on a firmer note as traders await details of Economic D-Day,
CAD is the underperformer following a USDCAD opening week gap higher after tariff talks broke down, the U.S. imposed 50% duties on selected goods and Canada retaliated. Scroll below for a USDCAD chart and update.
USDCAD 4 HOUR: Opening week gap
Trend: Down
Momentum: Stalled by opening week gap higher
Opening week gap (vs.1 3768 close) so far holding 1.3813 resistance.
Big void above it so use 1.38 as the pivotal level that would need to become support to signal higher
Low at 1.3732 paused 2 pips above our (cited) 1.3730 support
A risk filled week ahead from more than economic events
Newsquawk Week Ahead in Focus 24-28th August 2026
Highlights include NVDA earnings, US PCE, BLS revisions, Bessent on Iran, and Jackson Hole
US MARKET WRAP: Stocks and yields gain ahead of key risk week
SNAPSHOT: Equities up, Treasuries down, Crude up, Dollar flat, Gold up
(Right click on any image (or chart) to open a full screen in a new tab)
USDFCHF DAILY: Negative interest rate risk?
SNB’s Tschudin said the bank would cut its policy rate below 0% if warranted by inflation
- Swiss inflation is low because inflation expectations are low and oil has a small weight in Switzerland’s consumption basket.
- Ready to take interest rates below zero if necessary.
- We don’t publish interest rate forecasts; current inflation forecast should not be taken to mean interest rates will remain at current level for three years.
Source: Try Newsquawk free for 7 days
XAUUSD 4 HOUIR: 4500 or 4800?
Trend UP Momentum: UP
With XAUUSD slicing through key resistance, here is another way to look at what may come next.
Next target: 4650. If broken and then becomes support, then 4800 is targeted.
If below 4650, then upside slows in a range bounded by 4500. High today: 4632
Market Update: Summer Friday trading
What caught my eye is EURUSD testing both sides of its range, running into sellers on top and buyers at the bottom rather than typical stops.
With US yields moving up, downside should be more at risk but only if there are stops to run.
If not, then it will be a dull end to a summer Friday.
Same for US stocks while above earlier lows.
