Daily Market Report
➢ Gold Prices Rebound: Gold (XAU/USD) sees modest gains, recovering from a two-day
losing streak below $3,300, supported by Fed rate cut expectations and geopolitical
tensions.
➢ Fed’s Dovish Tilt: Fed Chair Powell maintains a cautious stance but hints that lower
inflation and weak labor markets could lead to earlier rate cuts—possibly as soon as July.
➢ Weakening US Dollar: The US Dollar Index (DXY) drops to 97.90, pressured by dovish Fed
outlook and positive sentiment around a fragile Israel-Iran ceasefire.
➢ Geopolitical Risk Premium: Despite the truce, recent military actions between Israel and
Iran raise doubts about ceasefire durability, maintaining safe-haven demand for gold.
➢ Traders eye US Q1 GDP, jobless claims, and PCE data for clues on Fed’s next move.
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