forexanakysis
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Gold price (XAU/USD) has delivered a breakdown of the rangebound structure formed around $2,005.00 in the early European session. The precious metal has dropped below the psychological support of $2,000.00 amid a recovery move in the US Dollar Index (DXY) after a long consolidation.
Investors are channelizing their funds into the US Dollar Index (DXY) Federal Reserve (Fed) policymakers are continuously advocating for more rate hikes and ignoring fears of a recession in the United States economy. Weekly jobless claims data released on Thursday cemented signs of an easing labor market. As per the report, weekly jobless claims increased to 245K, higher than the consensus and the former release of 240K for the week ending April 22.
Investors are channelizing their funds into the US Dollar Index (DXY) Federal Reserve (Fed) policymakers are continuously advocating for more rate hikes and ignoring fears of a recession in the United States economy. Weekly jobless claims data released on Thursday cemented signs of an easing labor market. As per the report, weekly jobless claims increased to 245K, higher than the consensus and the former release of 240K for the week ending April 22.
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