Gold prices rose for the first time in four sessions and settled at $1289.76 an ounce as a softer dollar lent some support to the precious metal.
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The EUR/USD pair initially fell during the day on Wednesday, but found enough support to turn around and form a hammer.
The US dollar rallied significantly during the day on Wednesday, breaking the top of the shooting star from Tuesday, which is always a very bullish sign.
Crude oil markets got a bit of a boost during the session on Wednesday, as the inventory number was a lot more bullish than anticipated.
The S&P 500 rallied during the day on Wednesday, reaching towards the 2560 level. The NASDAQ 100 went back and forth during the day, but is a bit overbought anyway.
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Gold prices dropped $4.22 an ounce on Wednesday, dragged down by a stronger dollar and U.S. equities closing at record highs.
The unchanged inflation in the Eurozone, as expected, and the return of the USD strength, is pushing the dollar’s index to 93.51 DXY.
For the third day in a row, the EUR/JPY is trying to stabilize above the resistance level at 132.00 to support the upward path of the pair.