The US dollar gained against the South African rand on Thursday, rising toward the 50-day EMA near 17.38. Despite renewed dollar strength post-FOMC, the 7% interest rate in South Africa continues to support rand holders.
The German DAX index continued its sideways trend on Thursday despite the European Central Bank’s latest rate announcement.
Silver extended its recovery on Thursday, bouncing from the 50-day EMA and approaching key resistance at $48.50.
Gold is consolidating weekly losses in Asian trades on Friday, having stalled Thursday’s turnaround just shy of the $4,050 mark.
The EUR/USD pair is showing renewed bearish momentum after failing to hold above 1.1600, pressured by a stronger U.S. dollar and cautious Fed outlook.
Gold (XAU/USD) is facing downward pressure following a post-Fed rebound in the US Dollar. With resistance holding below $4,000, technical indicators point to further downside.