The US Dollar maintained its positive tone throughout the first half of the day but changed course after the American opening.
XAU/USD Current price: $1,961.24 Financial markets trade cautiously optimistic as bets on no more rate hikes rose. Federal Reserve Chairman Jerome Powell will participate in an IMF discussion panel. XAU/USD recovers from a fresh weekly low, needs to run past $1,965 to become attractive for buyers. As a result, XAU/USD bounced from a fresh weekly low of $1,944.71 to trade above the $1,960 mark.
In a separate event, Atlanta Fed President Raphael Bostic reiterated that the full effects of the recent policy are yet to be seen. Later in the day, US Fed Chairman Jerome Powell will participate in a panel discussion titled “Monetary Challenges in a Global Economy” at the International Monetary Fund and could comment on monetary policy. XAU/USD short-term technical outlook The daily chart for XAU/USD shows bulls are giving it another try, as the pair aims to overcome the 23.
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