Daily Market Review: Dollar Index Near Steady After Several Weak Sessions

GOLD Bullion's rally has been halted for now, with resistance at $ 1,750, as commented on over the past few days. A solid recovery above this level could attract more buyers, but for now, gold continues to gain momentum after the $ 1,675 double bottom, aided by the slowdown in the dollar. If we move it away, we can see that the initial support level is $ 1725 for the bargain price, followed by further support at the psychological threshold of $ 1700 and of course the double bottom at $ 1675. Carlo Alberto De Casa – Senior Analyst, ActivTrades EUROPEAN SHARE SEEDS European markets opened on Wednesday as the most resilient markets in Paris and Frankfurt, while Zurich, Warsaw and Copenhagen were down, while investors now chose to stay on the sidelines. Most benchmarks are trading below normal volumes, as investors postponed their decisions before the release of today's FOMC minutes. The extremely subdued environment created by most central banks last year has significantly helped exchanges hit record highs, increasing investment almost everywhere. However, with recent concerns about the potential for high funding costs, most traders are worried that the party will be over soon. The publication of today's FOMC minutes will be crucial as it gives investors more clues about the short and medium term outlook of monetary policy. Meanwhile, energy-related stocks could suffer from increased volatility this afternoon due to long-awaited data on US crude oil stocks. Pierre Veyret – Technical Analyst, ActivTrades Disclaimer: Comments are proprietary to the authors and do not reflect LeapRate's views. This is not business advice. Daily Market Commentary: After a few weak sessions, the Dollar Index appeared almost horizontal in LeapRate for the first time. Read more

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