GDP

The S&P 500 pulled back as traders weighed hawkish remarks from Fed Chair Warsh, stronger economic projections and a firmer retail sales backdrop. Housing sentiment weakened under high interest rates, adding another layer of uncertainty for equity investors.

AUD/USD remains in focus as a bullish ascending channel continues to guide price action above nearby support. Traders are watching whether the pair can extend gains as hawkish pressure surrounds both the Reserve Bank of Australia and the Federal Reserve.

AUD/USD has climbed to 0.7187, its strongest level since May 29, as traders weigh possible RBA and Fed policy divergence. The bullish setup remains focused on 0.7280, while a break below 0.7100 would weaken the near-term outlook.

AUD/USD traded unevenly as the US dollar recovered modestly and traders waited for a busy run of US macroeconomic releases. Technical traders are watching whether the pair can hold above its 50-period EMA and retest last week’s 0.7180 high, with 0.7250 seen as a potential upside level if momentum improves.

EUR/USD has slipped from its recent high as the US dollar attempts a cautious rebound and traders await key US data. The pair remains above 1.1620 support, but a double shooting star pattern is keeping bearish scenarios in focus.

Gold is pushing higher as a weaker dollar and reduced September hike expectations support demand, even as Treasury yields move up. The rally now faces a critical resistance zone and a crude-led inflation risk that could limit follow-through.

Silver held a modest rebound as lower crude prices, softer Treasury yields and a steadier dollar eased pressure on the metal. Traders remain cautious before Wednesday’s FOMC decision, Warsh’s press conference, and the next GDP and PCE readings.