💡 XAUUSD: Disadvantaged from USD recovery
Updated
The recovery of the USD during the day put pressure on gold. After sliding to a one-week low, the US Dollar Index reversed course and posted a 0.7% gain, making gold more expensive for overseas buyers.
According to TD Securities commodity strategist Daniel Ghali, the strong buying pressure after the policy meeting appears to have dried up and gold is correcting as the market perceives there are fewer risks associated with policy easing. currency book.
According to the FedWatch Tool, traders are currently pricing in a 70% chance that the Fed will begin cutting interest rates in June, up from 65% before the rate decision.
According to TD Securities commodity strategist Daniel Ghali, the strong buying pressure after the policy meeting appears to have dried up and gold is correcting as the market perceives there are fewer risks associated with policy easing. currency book.
According to the FedWatch Tool, traders are currently pricing in a 70% chance that the Fed will begin cutting interest rates in June, up from 65% before the rate decision.
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