Gold is defending the $4,200 mark early Wednesday, having staged a decent comeback on Tuesday from near the $4,170 region. Traders gear up for the all-important US Federal Reserve (Fed) policy announcements.
The Nasdaq 100 is slightly weaker in early Tuesday trading, though markets remain focused on Wednesday’s FOMC decision and press conference.
Silver extends its strong upward move, breaking above $60 as traders anticipate the Federal Reserve’s upcoming rate decision and press conference.
EUR/USD is sticking to a soft downside bias on turnaround Tuesday, sliding back toward the key 1.1600 area and marking fresh multi-day lows. It’s also testing the 55-day SMA from above, adding a bit of technical tension to the move.
Gold prices are up on Tuesday, with the bright metal now hovering around $4,215 a troy ounce. A better market mood undermines near-term demand for the US Dollar (USD), despite the improved sentiment surging from upbeat United States (US) data.
The Australian Dollar (AUD) keeps grinding higher on Tuesday, pushing AUD/USD to the area of fresh three-month highs around 0.6650.