Fed Cut Fuels Dollar Weakness, Gold Eyes 3700!

It’s Friday and markets are moving fast as we close in on month-end. Gold is pushing toward 3700, while EUR/USD has tested 1.1920 and GBP/USD reached 1.3720. USD/JPY hit 144.60 before retracing back toward 147.48.

The key driver is the Fed’s 25 bps rate cut. Powell made it clear more cuts are possible this year — with markets now pricing in up to 75 bps by December. The Fed remains data dependent, but weaker labor data and softer CPI will keep the door open for further easing.

That means the dollar stays vulnerable. I’m looking at long opportunities in EUR/USD and GBP/USD, while USD/JPY shorts remain in play. My year-end target for EUR/USD is 1.20, with the dollar index eyeing 96 support.

The setup is clear: weak dollar, strong metals, and opportunity across FX majors.

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This content may have been written by a third party. ACY makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or other information supplies by any third-party. This content is information only, and does not constitute financial, investment or other advice on which you can rely.