EUR/USD is trading at 1.0802, 0.05% up since the previous day’s close. The US dollar (USD) made a significant retreat on Wednesday, this time in response to disappointing US inflation data that the CPI tracked in May. This gave EUR/USD new legs above the crucial 1.0800 level, or three-day highs. 1.0852 was rejected following the release of US data showing the EUR/USD cover gap down and touching the second resistance. Today, this pair may retrace some points after closing in green yesterday.

GER30 is trading at 18685, 0.06% up since previous day close. Following better-than-expected inflation data, Germany’s DAX index rebounded on Wednesday along with other European blue-chip indices, closing at 1.42% higher. This was in advance of the US Federal Reserve’s monetary policy announcement. Blue chip indices increase 1.42% following a week of declines, with yesterday’s US Fed decision providing breathing room for bullish buyers. The DAX30’s closest resistance is 188715, while support is still at yesterday’s low of 18384.

XAU/USD is trading at 2310, 0.51%, down since previous day close. Following a US inflation data that was lower than anticipated, gold prices surged on Wednesday, raising the possibility of a Federal Reserve (Fed) interest rate drop later in the year. However, the Greenback was strengthened by the Federal Reserve’s hawkish stance. At $2,318 in trade, the XAU/USD is up 0.13%. The XAUUSD traded in a good environment, but traders did not feel confident enough to take a bullish stance. They are still expecting a slump in the next trading session, which could lead to a short-term gain for yellow metal. However, if China stops buying gold, the near-term trend will remain gloomy.