Fedwatch Tool

Gold pushed higher as traders responded to a weaker U.S. dollar following disappointing U.S. Retail Sales data. Silver remained capped below a key resistance zone, while platinum rebounded as buyers stepped in after the prior session’s sell-off.

Gold advanced as traders reacted to a weaker U.S. dollar following a disappointing Retail Sales reading. Silver continued to test major resistance, while platinum rebounded toward the $1750 area as dip buyers returned.

The U.S. Dollar Index lost ground as July consumer confidence missed expectations and oil prices dropped sharply on signs of Middle East de-escalation. FXCOINZ reviews the latest technical levels across DXY, EUR/USD, GBP/USD, USD/CAD and USD/JPY as traders position ahead of the Fed decision.

The U.S. dollar weakened as traders reacted to a softer CB Consumer Confidence reading and a sharp pullback in oil prices. EUR/USD and GBP/USD recovered ground, while USD/CAD eased and USD/JPY remained pinned below a key resistance zone.

Gold moved higher as traders reacted to falling Treasury yields, a weaker U.S. dollar and softer Producer Prices data. Silver struggled as the gold/silver ratio pushed above 70.00, while platinum tested $1650 after breaking above nearby resistance.

Gold and silver prices rebounded after soft U.S. labor data reduced expectations for another Federal Reserve rate increase and weighed on the U.S. dollar and Treasury yields. Technical traders are watching whether gold can clear $4,200 and whether silver can break above $64.50 to confirm a stronger recovery.

Gold and silver prices pushed higher after softer U.S. labor data reduced expectations for another Federal Reserve rate increase and weighed on the dollar and Treasury yields. Technical traders are now watching whether gold can clear $4,200 and silver can break $64.50 to confirm a stronger bullish phase.