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Market Update: XAUUSD vs. BTCUSD
XAUUSD hanging in with a bid and so far disconnecting from the uptick in US yields. Watch recent high 4372, key level 4382 as firmly above it would open a void to 4500+. Sub-4311 would cool the risk.
BTCUSD: Long down candle should shake bulls, who do not want to see 62K broken after failing to hold above 65K
Market Update: OIl up, no big ripple effects
USDCAD back below 1.3950 (holding above 1.3925, next target still 1.3900) as it follows firmer crude oil. Forex trading mixed despite higher bond yields, JPY remains the underperformer, firmer GBP outperforms, EURUSD unable to shake a focus from 1.1550
US stocks on sidelines holding a bid but consolidating.
Caught my eye: Oil in U.S. Strategic Petroleum Reserve falls below 300 million barrels, lowest since 1983
GBPUSD 4 HOUR: Battle for 1.35
Trend up
Momentum UP but trying for more
To make this more than a bounce within the range, 1.3509 followed by a break of 1.3550 would be needed.
Otherwise, still just a swing within a 1.3400-1.3500/10 range where 1.3434 needs to hold to keep the downside limited.
Note firmer GBP crosses (e.g. vs. JPY and EUR giving GBPUSD support)
GER40 returned to consolidation after marginally surpassing its previous high to set a new all-time 📈high at 26,444 on Friday. With the index now rotating near July’s support trendline and the 20-period EMA, the 📈bulls could stay in play, while the market structure itself seems to be resembling a bullish cup-and-handle pattern
World’s biggest chipmaker TSMC’s sales surge 45% amid buoyant AI demand
- TSMC reported revenue for July of 467.58 billion new Taiwan dollars ($14.5 billion), up 44.7% year-on-year.
- The group makes chips for Big Tech customers like Nvidia and Google, so the firm’s financial figures are closely watched as a sign of AI semiconductor demand.
- European semiconductor stocks rose on Monday, with ASML up more than 2%, and Infineon and STMicro also trading higher.(CNBC)
Market Update: Oil up but so far few ripple effects
XBRUSD holding its bid after an opening gap higher but yet to see much ripple effects elsewhere
EURUSD consolidating after extending its range to 1.1500-80. 1,1550 likely pivotal in setting its tone while wihin this range.
US500 consolidating between 7700-7900
Newsquawk Daily US Opening News – 10th August 2026
(Right click on any image (or chart) to open a full screen in a new tab)
XAUUSD DAILY – Damage not yet fatal
Trend: Up but faces resistance
Momentum: UP
Keeping a bid but pause below key 4382 resistance (Friday high 4371) so far meaning damage not yet fatal.
Why? 4382 is a key level as a firm break would open the door to 4500+.
On the downside, it’s a long way to 4220 so expect downticks to be treated as retracements while above this breakout level.
USDJPY 4 HOUR: Path of least resistance
Trend: Down but losing momentum
Momentum: Retracement
Markets follow the path of least resistance and in this case, selling JPY on its crosses run less of a risk of triggering BoJ intervention.
Meanwhile, the BoJ is looking at the same levels on a chart as we are, which in this case there is no key resistance until above 160, likely the level the central bank does not see sustained trading above it.
Only levels worth noting are retracements using
FIBOS for 163.98-155.22 at: :
- 158.57 = 38.2% (completed)
- 159.50 = 50% (open)
- 160.53 = 61.8% (open)
Forex Market Snapshot
Traders have learned not to overreact to opening week gaps in crude oil ax they have seen this movie replay too many times over the past 6 months.
THis has crude oil tradiung firm but so far with limited follow nbthrough nn its opoening week gap.
In forex, the focus is on a weaker JPY, both vs the dollar and on its major crosses witj other currencies have so far tradeing in tighter ranges vs. the dollar.
A quiet calendar today with the key economic focus looking ahead to Wednesday’s US VOI report.
THE WEEK AHEAD:
KEY ECONOMIC EVENTS & DATA TO WATCH
AUGUST 10 – AUGUST 14, 202
The coming week will put global inflation back in focus, with U.S. CPI expected to rise 3.4% from a year earlier as energy volatility and earlier cost increases continue to work through the economy. Price pressures appear especially pronounced in Japan, where producer inflation is forecast to accelerate to 7.5%, while Australia’s easing headline inflation is expected to allow the RBA to leave rates unchanged at 4.35%. Growth indicators remain more subdued, with U.S. retail sales forecast to rise only 0.1% in July and UK quarterly GDP growth expected to slow from 0.6% to 0.4%.(Econoday)
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