Market Insights

The Reserve Bank of Australia’s (RBA) keeping of September tapering on the table, despite covid woes at home, offered over 40 pips of immediate upside to the AUD/USD pair on the announcement.

Despite bouncing off a four-month low during the last week, silver buyers need validation from the 200-SMA level near $25.85 to retake the controls.

Brent oil prices ease from the two-week top during early Friday. However, the British oil benchmark holds onto the three-week-old resistance breakout.

The post-Fed rally of EURUSD pokes a two-week-old resistance line as bulls brace for the preliminary figures of the US Q2 GDP, up for publishing later today.

Although US dollar weakness ahead of the Fed’s verdict put a bid under gold prices, a confluence of 100 and 50-SMA becomes a tough nut to crack for the bulls around $1,807-08.