Energies
Gold prices (XAU/USD) softened during the Asian session on Thursday but found stability near the $2,620 level, recovering some of the day’s earlier losses. Recent US economic data indicates a bullish sentiment with limited progress on curbing inflation, which may prompt the Federal Reserve to maintain a cautious stance on further rate reductions.
Meanwhile, the USD/CAD pair maintained a defensive stance for the second consecutive day but held above the crucial 1.4000 level during the Asian session. However, traders should approach with caution before anticipating a deeper correction from a deeper pullback from this week’s high near 1.4175-1.4180, the strongest level last seen in April 2020.
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