XAUUSD: facts surrounding interest rates
The XAU/USD pair is experiencing a downward trend for the third day in a row. It reached a low of $1,902.80 during the American session. The US Dollar gained strength before the opening of Wall Street due to negative US data and upcoming statements from central bankers, leading to a risk-off sentiment in financial markets.
In the first half of the day, investors were optimistic, resulting in significant gains for high-yielding stocks. However, the US published a preliminary estimate of the May Goods Trade Balance, revealing a deficit of $91.1 billion, which caused a shift in sentiment. Additionally, Wholesale Inventories decreased by 0.1% in May, falling short of expectations.
Support levels: 1,903.00 1,888.10 1,870.15
Resistance levels: 1,920.80 1,933.50 1,9431.40
In the first half of the day, investors were optimistic, resulting in significant gains for high-yielding stocks. However, the US published a preliminary estimate of the May Goods Trade Balance, revealing a deficit of $91.1 billion, which caused a shift in sentiment. Additionally, Wholesale Inventories decreased by 0.1% in May, falling short of expectations.
Resistance levels: 1,920.80 1,933.50 1,9431.40
Trade active:
Fed Chair Powell: U.S. bank failures highlight need for stronger regulation
Federal Reserve Chairman Jerome Powell said Thursday that the collapse of Silicon Valley Bank and two other mid-sized American banks earlier this year indicated a “need to strengthen our supervision and regulation of institutions of the size of SVB.”
Federal Reserve Chairman Jerome Powell said Thursday that the collapse of Silicon Valley Bank and two other mid-sized American banks earlier this year indicated a “need to strengthen our supervision and regulation of institutions of the size of SVB.”
