EUR/USD is trading at 1.0739, 0.07% down since the previous day’s close. The pair experiences difficulties as the US dollar recovers from the dovish remarks made by Fed Chair Powell. EU inflation is falling, undermining the euro. The focus shifts to Fed Minutes, the US ADP report. The consolidation phase is led by the various economic developments surrounding the US and European markets. On the other hand, political and ECB rate cuts hold traders’ breath. The closest support and resistance levels are 1.0717 and 1.07759.

US30 is trading at 39300, 0.08% down since previous day close. U.S. Treasury yields as investors assessed data indicating a continued tight labour market and the likelihood of interest rate reductions the US market closed in the green following speculation that several news stories would have a positive impact on the US economy. The closest support for US30 is 39000, and the nearest resistance is 39500, according to daily chart analysis. The last two day candle closed indicating bullish momentum in the upcoming trading session.

SILVER is trading at 29.70, 0.17% up since previous day close. Asian session saw the silver price trade at about $29.70 per troy ounce, continuing its upward trend for the fifth day. Investor response to Fed Chair Jerome Powell’s relatively dovish comments may have helped silver’s price. Powell, though, wants more proof before lowering interest rates because the US economy and labour market are still robust. Support for this metal, which is silver following gold, is 28.54; resistance is 29.87.