
Gold, silver slammed as hawkish Fed repricing reignites dollar upside
Gold and silver had held up surprisingly well against surging US yields. Wednesday’s DXY breakout may have changed that equation.
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Gold and silver had held up surprisingly well against surging US yields. Wednesday’s DXY breakout may have changed that equation.

EUR/USD and Nasdaq Price Outlook: Overbought/oversold momentum on hourly and daily time frames is raising reversal risks across the U.S. dollar, EUR/USD and Nasdaq after a strong weekly advance.

Sr. Technical Strategist Michael Boutros highlights the levels that matter on the USD Majors, commodities, and equity indices charts this week.

Gold and silver are feeling the full force of surging US yields, but the dollar’s failure to join in may be saving them from an absolute drubbing.

From 1994 and 1999 through to the dollar surge of 2022, history shows Fed tightening has produced very different outcomes for DXY.

A core CPI reading that rounds to 0.3% m/m or even an unrounded reading above 0.20% would signal that inflation is not slowing sufficiently, and a Fed rate hike may be necessary next week. What would that mean for the US dollar?

The U.S. Dollar is holding a critical technical floor, with CPI and next week’s Fed decision poised to drive the next major move.

Sr. Technical Strategist Michael Boutros highlights the levels that matter on the USD Majors, commodities, and equity indices charts this week.

Gold and silver remain unusually sensitive to US dollar direction, with US inflation data and elevated risk of disorderly carry trade unwinds in focus for traders over the remainder of the week.

DXY has broken below the 200-day moving average as selling accelerates toward major support, raising the stakes ahead of Friday’s NFP report.

NFP leading indicators point to a potentially above-expected reading in this month’s jobs report, with headline job growth coming in somewhere in the 75-125K range, with a chance the report tips the scales on the FOMC interest rate decision later this month.

The U.S. Dollar has rebounded from confluent support, but bulls still face a major technical hurdle before the broader advance can regain traction.

DXY is finding renewed support as front-end Treasury yields push higher, with the strengthening inverse relationship putting fresh pressure on gold.
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