GBP/USD is trading at 1.2646, 0.06% up since previous day close. BoE-Fed policy divergence maintains the pair’s weakness while limiting any decline in the risk tone. With little data to report, the focus turns to speeches by Fed policymakers in the US and UK calendar. Despite indications of a slowdown in US inflationary pressures, market players continue to factor in the possibility of two interest rate reductions by the Fed in 2024. This could limit the downside for the GBP/USD pair and contain any further upward

US30 is trading at 30151, 0.10% down since previous day close. US benchmark equity indexes closed mostly lower on Friday. The US30 showed minimal movement. Among industry sectors, consumer discretionary outpaced the winners, with technology and energy experiencing the steepest declines. The US30 opened gap-down on Monday morning following home sale data; however, the energy and IT stock coverup index is the closest support at 39050, which is a little closer to the current market price and resistance.

XAU/USD is trading at 2325, 0.06%, up since the previous day’s close. After retreating from two-week highs around $2,368 during the early Asian session on Monday, the price of gold is now slightly lower at $2,320. The yellow metal is impacted by the stronger-than-expected US Purchasing Managers Index, which was released on Friday. The bullish bias toward XAUSSD was destroyed by Friday’s sharp decline, but gold still has strong support at 2300 and the closest resistance at 2369.