Daily Market Report
➢ Gold (XAU/USD) remains in a sideways consolidation below the key $5,000 psychological level during the Asian session on Thursday.
➢ The US Dollar (USD) holds firm near a one-week high after hawkish signals from the latest Federal Reserve January meeting minutes.
➢ The FOMC Minutes showed policymakers divided on the timing and necessity of further interest rate cuts, creating uncertainty in markets.
➢ Strong US data, including better-than-expected Industrial Production and a sharp rise in manufacturing output, supports the case for keeping rates steady.
➢ Rising US Treasury bond yields, driven by the hawkish tone, continue to provide support to the USD and weigh on non-yielding Gold.
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