The pair is on the back foot this week, as markets digest recent strong US economic data and contemplate the rate path of the Fed and the ECB

Watch today’s US Open for commentary on the latest data from the US, the pandemic situation in China and the RBA rate hike to the highest levels in ten years

The pair finds support after its poor start to the week, as the RBA kept the door open to more rate increases, while markets continue to assess the Fed’s path and monitor the pandemic news form China

The past month was the best since April 2021, as the metal was boosted by hopes of easier Covid-19 policies in China and prospects of a less aggressive Fed

ETH/USD runs a profitable week, helped US Dollar weakness, but fails to move past critical tech levels as crypto fears persist

XAU/USD runs a profitable week helped by softer US PCE inflation and Mr Powell’s signal for smaller rate hikes, but eases today ahead of the US Employment Report

Watch today’s US Open for commentary on the prospects of a less aggressive Fed, following Mr Powell’s speech and the softer PCE Inflation figures, as well as the impact on Wall Street and the greenback

November was the pair’s worst month since 1984 due to expectations for a moderation in the rate hike pace by the Fed, which were reinforced by Chair Powell’s speech on Wednesday

Wall Street rallied on Wednesday, after Mr Powell’s remarks cemented market expectations for a smaller hike by the Fed, but steadies today ahead of the PCE Inflation update

The German index pauses its eight-week profitable streak, showing little reaction to the softer preliminary inflation figures from Eurozone and Germany

The pair finds support today after the rejection of key levels at the start of the week, as markets brace for Mr Powell’s speech and important economic data from the US