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#dxy

💵 The dollar index (DXY) is trading at 99.40.

📰 Today, the focus of traders' attention is the meeting of the Federal Reserve System (FRS), the results of which will be summed up at 18:00 GMT. The Fed is expected to leave its key interest rate unchanged at 4.25-4.50%, balancing signs of lower inflation and a resilient labor market with growing uncertainty over US trade policy.

📣 Market participants will be closely watching Fed Chairman Jerome Powell’s comments, especially against the backdrop of escalating trade tensions, a weak US economy and political pressure from President Trump to cut rates.

📉 If Powell chooses to stick to “soft” rhetoric, pressure on the dollar may increase.

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📹 What is Stop Out?

🏛 The Federal Reserve System (FRS) kept its key interest rate unchanged at 4.5% following its meeting on Wednesday;

📣 Fed Chairman Jerome Powell said that the Fed does not intend to rush to lower the key interest rate;

📰 US President Donald Trump said that he is not ready to reduce the 145% tariffs imposed on China in order to facilitate negotiations on a trade deal;

⚠️ Trump said in Truth Social that he will announce a major trade deal on Thursday;

🛢 According to the Energy Information Administration, oil inventories in the US last week fell by 2 million barrels, compared to the forecast for a decline of 2.5 million barrels.

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#xauusd

🥇 The XAU/USD pair is trading at $3,340 per ounce.

🏛 Following yesterday's Fed meeting, US Federal Reserve Chairman Jerome Powell said that the US economy is currently showing signs of resilience. However, Powell expects the actual impact of tariffs and heightened uncertainty to impact economic performance later this year. The Fed also kept interest rates unchanged in the 4.25-4.50% range, confirming that a rate cut is not expected until late summer. Such rhetoric supported the dollar.

⚠️ In addition, market participants expect the US to announce a trade deal with one of the G10 countries today, which will be the first trade agreement since the US sectoral tariffs came into effect in early April. Thus, easing economic uncertainty may put additional pressure on safe haven assets.

📉 Given the above, the XAU/USD pair retains downside potential.

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🏛 The Bank of England cut its key interest rate by 25 basis points to 4.25% at its meeting on Thursday;

📊 The number of new applications for unemployment benefits in the United States rose by 228,000 last week, compared with a rise of 241,000 two weeks earlier;

📰 US President Donald Trump signed a trade agreement between the United States and the United Kingdom;

⚠️ US Commerce Secretary Howard Lutnick told CNBC that Washington will launch dozens of trade deals next month, although the 10% tariff imposed on most countries is likely to remain.

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#xagusd

🥈 The XAG/USD pair is trading at $32.50.

📰 This weekend, the US and China will hold consultations in Switzerland for the first time since the White House initiated 145% tariffs and Beijing responded in kind by raising the rate to 125%. Earlier, Treasury Secretary Scott Bessant said in an interview with Fox News that the current level of reciprocal duties is equivalent to imposing a mutual embargo on the supply of goods, but this state of affairs is not the goal of the authorities who are trying to achieve fair trade relations. Against this background, investors are hoping for a detente in trade relations between the two leading world economies, which will help prevent a global economic downturn.

📉 Considering the above, the XAG/USD pair retains downside potential.

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