Gold breaks above December high – Société Générale

Gold has rebounded from an interim low near $4,270 and broken above its December high, signalling renewed upside momentum after successfully defending its multi-month rising trend line, Société Générale's FX analysts note.

Bullish momentum returns for Gold

"Gold carved out an interim trough near $4,270 during the last pullback attempt, successfully defending a multi-month ascending trend line. It is now breaking above December high, signalling a resurgence in upward momentum."

"The next projections are at $4,645 and $4,685/$4,720. The recent pivot low at $4,400 now serves as an important support. Holding this will be crucial to avert a short-term decline."

US: Downside surprises in December payrolls and unemployment rate – UOB Group

The latest US Employment Situation report by the Bureau of Labor Statistics (BLS) last Fri (9 Jan) presented two main downside surprises as jobs growth in December missed expectations even though the bar was set low while unemployment rate also dipped below expectations.
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EUR/USD: Risk of closing below 1.1615 remains intact – UOB Group

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