Pre Market 06:45- Dollar back above $104 : Gold back to 8EMA : Brent Pull back in Channel to 8EMA $85: Uranium recovery Continues
Dollar reasserts strength following the sell off from the FOMC meeting on Wednesday. Gold precious metals and copper all responded accordingly, with gold back around the 8 EMA at $2174 from a high yesterday at almost $2230 (see charts). Uranium continues to recover off its low of $82 last week now eyeing $90 ,YCA, GCL rallying this week as highlighted in the Weekly Wrap with MKA Mkango staging a breakout from base
Despite the strength in the greenback, US indices saw fresh all-time highs with the S&P 500 adding 0.3% despite a sell-off of 4% in Apple with the semiconductors reasserting leadership - see heatmap.
Brent oil has continued to pull back from the upper channel line around $87 - a 2024 high - currently sitting around the $85 mark on the 8EMA which may provide support - see Chart
On the calendar UK retail sales at 7:00
Dollar index
S&P 500 Heatmap
Gold pullback to 8EMA
Brent oil pullback in channel
