EUR/USD is trading at 1.09346, 0.13% up since previous day close. EUR/USD gains for the second consecutive session due to dovish remarks from the Federal Reserve, with Fed Chair Powell highlighting persistent price growth as a significant concern. European Central Bank President Christine Lagarde and Vice-President Luis de Guindos caution against premature action due to persistently high service inflation. As seen in the chart, the pair has started a reversal with strong bullish candle, hence upside moment is expected.

US100 is trading at 18634, 0.79% up since previous day close. Stock index futures on Wall Street rose after the Federal Reserve kept rates steady and forecasted at least three rate cuts this year. Nasdaq 100 Futures rose 0.6% to 18,582.25 points, while Dow Jones Futures rose 0.2% to 40,019.0 points. Markets were boosted by the prospect of lower interest rates and a resilient US economy, with investors favouring technology stocks like NVIDIA and Micron Technology. As seen in the chart, the index has a breakout resistance, more upside is expected.

XAU/USD is trading at 2207.4, 0.93% up since previous day close. Gold price (XAU/USD) has regained momentum for the second consecutive day and reached a record high. The Federal Reserve’s projected three rate cuts this year have weighed on the US Dollar, benefiting the gold metal. However, elevated US Treasury bond yields limit the downside. The risk-on environment caps the upside for the gold price amid slightly overbought conditions. The path of least resistance for the XAU/USD remains to the upside, but traders are looking to flash PMIs for cues about global economic health. Technical analysis suggests gold needs to consolidate before the next leg up.