- Durable Goods Orders in US declined less than expected in January.
- US economy is seen expanding 2.1% in Q4 as expected.
- 10-year US T-bond yield slumps to fresh all-time lows near 1.26%.
The XAU/USD pair continues to trade in the positive territory in the early trading hours of the American session as USD struggles to capitalize on the macroeconomic data releases from the US. As of writing, the pair was up 0.82% on the day at $1,653.
Risk aversion and USD weakness drive gold's action
The US Bureau of Economic Analysis' second estimate for the annualized GDP growth in the fourth quarter stayed unchanged at 2.1% as expected on Thursday. Additionally, the US Census Bureau reported that Durable Goods Orders in January declined by 0.2% to better analysts' estimate for a decrease of 1.5%.
Nevertheless, the relentless fall witnessed in the US Treasury bond yields didn't allow the greenback to find demand after the data. At the moment, the 10-year US T-bond yield is at a fresh all-time low of 1.26%, erasing 6.2% on a daily basis, and the US Dollar Index is down 0.56% at 98.59.
Meanwhile, reflecting the intense flight-to-safety, Wall Street's main indexes started the day deep in the negative territory to help the safe-haven gold preserve its strength. Both the S&P 500 and the Nasdaq Composite opened thge day more-than-2% lower.
Technical levels to watch for
|Today last price||1652.86|
|Today Daily Change||16.63|
|Today Daily Change %||1.02|
|Today daily open||1636.23|
|Previous Daily High||1655.06|
|Previous Daily Low||1624.96|
|Previous Weekly High||1649.32|
|Previous Weekly Low||1578.88|
|Previous Monthly High||1611.53|
|Previous Monthly Low||1517.1|
|Daily Fibonacci 38.2%||1643.56|
|Daily Fibonacci 61.8%||1636.46|
|Daily Pivot Point S1||1622.44|
|Daily Pivot Point S2||1608.65|
|Daily Pivot Point S3||1592.34|
|Daily Pivot Point R1||1652.54|
|Daily Pivot Point R2||1668.85|
|Daily Pivot Point R3||1682.64|
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.