After a volatile Wednesday, the US Dollar recovered the ground lost following United States (US) first-tier events, pushing higher even against the safe-haven Gold in a risk-averse environment.
XAU/USD Current price: $2,297.49 Softer-than-anticipatedUS Producer Price Index figures temporarily boosted the mood. Wall Street's poor performance reflects a sour mood, backing demand for the US Dollar. XAU/USD turned bearish and aims to pierce the weekly low at $2,286.69. After a volatile Wednesday, the US Dollar recovered the ground lost following United States first-tier events, pushing higher even against the safe-haven Gold in a risk-averse environment.
The upcoming Asian session will bring the Bank of Japan's monetary policy decision. Market participants speculate the central bank will probably leave interest rates unchanged, although policymakers may also announce a reduction in bond purchases. XAU/USD short-term technical outlook The daily chart for XAU/USD shows that the risk of a bearish breakout has increased.
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