XAU/USD trades with modest losses mid-Wednesday, confined to a tight intraday range.
XAU/USD Current price: $2,505.91 The US Dollar eases further after a downward revision to job creation data. The Fed eral Open Market Committee will release the Minutes of the July meeting. XAU/USD corrective decline may continue, but a steeper decline is out of the picture. The pair briefly dipped below the $2,500 mark, but continued pressure on the US Dollar helped it trim intraday losses. Investors await fresh clues from the Fed eral Open Market Committee Minutes.
The actual job growth was then roughly 30% less than initially reported. The news further supported the case of an upcoming interest rate cut, maintaining the USD on the losing side. XAU/USD short-term technical outlook The daily chart for XAU/USD shows the pair holds above all its moving averages, with a bullish 20 Simple Moving Average accelerating north at around $2,440, while above also bullish longer ones.
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