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US Dollar Price Action Setups: EUR/USD, GBP/USD, USD/JPY, Gold (XAU/USD)
US CPI was the big item from this week and the Wednesday release prodded several themes across global markets. US equities broke out to fresh highs on the back of that print, and the US Dollar broke down to fresh monthly lows, eventually finding support around the 200-day moving average which led to a bounce on Thursday. The move in the Dollar contributed to a very strong breakout in Gold and a number of major FX pairs pushed up to test fresh highs. The month of May has so far been an encouraging one for the FOMC. It was the first day of the month that the Fed retained a relatively-dovish lean, even despite the ... (full story)