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US500 continues within a macro bullish trend and has been undergoing a corrective phase since late last week, which has covered 50% of the volume inefficiency (gap) from Wednesday after the Fed meeting.
The price of gold is rising after a slight previous decline and remains near the high of the last two weeks. This trend is attributed to the weakness of the US dollar, influenced by a new decrease in US Treasury bond yields. Additionally, geopolitical tensions in the Middle East continue to support demand for the metal as a haven.
XAGUSD has been consolidating since January above the November support at 21.88 and an October high volume node that has halted the price decline three times since November.
The Japanese yen was the worst-performing currency this week, falling by 0.6% and trading near a three-month low. Recent preliminary GDP data for the fourth quarter of Japan show a warning of a fall into a technical recession, something that will be confirmed after next month's final release, preventing the Bank of Japan from starting the expected cycle of monetary tightening, or interest rate hikes this year. This scenario has prompted yen sales against its counterparts.
XBRUSD: Corrects Towards Supply Zone With Expected Further Downside Towards 75.70