XAU/USD Current price: $2,344.77 The US Dollar benefits from upbeat United States data, risk-off mood. Hawkish FOMC meeting Minutes suggest rate cuts won’t come until September. XAU/USD is pressuring a critical Fibonacci support and bears an aim for lower lows. The bright metal is sharply down for a second consecutive week, with the US Dollar initially taking advantage of hawkish Federal Open Market Committee meeting Minutes.
3 in April, while the Manufacturing PMI recovered to 50.9 after printing 50 in the previous month. Finally, the services index jumped to 54.8, its highest in a year. Finally, Wall Street opened mixed, with the Dow Jones Industrial Average losing roughly 0.70%, while the S&P500 and the Nasdaq Composite hold into the green. XAU/USD short-term technical outlook XAU/USD trades around the 61.8% Fibonacci retracement of the rally between $2,277.20 and the record peak at $2,449.92, at $2,344.70.
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Source: FXStreetNews - 🏆 14. / 72 Read more »