"Saxo Bank pointed out that Powell restated the Federal Reserve's commitment to achieving its long-term 2% inflation target. However, he also indicated that the Federal Open Market Committee (FOMC) would approach future rate decisions with caution and did not rule out the possibility of additional rate hikes. This has led to a shift in expectations, with the first anticipated rate cut now pushed to June, a month later than previously projected.
In early trading, the dollar maintained its stability, with the ICE dollar index holding steady at 104.07.
Simultaneously, Treasury yields experienced a decline, a positive development for gold as it doesn't yield interest. The yield on the US two-year note was observed at 5.046%, marking a 3.9 basis point drop, while the yield on the 10-year note decreased by 2.3 basis points to 4.212%."
XAUUSD
SELL 1923- 1925🕯
✔️ TP1: 1916
✔️ TP2: 1910
🚫 SL: 1929
In early trading, the dollar maintained its stability, with the ICE dollar index holding steady at 104.07.
Simultaneously, Treasury yields experienced a decline, a positive development for gold as it doesn't yield interest. The yield on the US two-year note was observed at 5.046%, marking a 3.9 basis point drop, while the yield on the 10-year note decreased by 2.3 basis points to 4.212%."
XAUUSD
SELL 1923- 1925🕯 ✔️ TP1: 1916
✔️ TP2: 1910
🚫 SL: 1929
