Gold remains bearish as markets await US data, FOMC decision

The Fed day appears showing the routine pre-event anxiety and joins the Gaza woes, as well as the fresh fears about Chinas economic recovery, to defend the US Dollar. However, other currencies and commodities, except for the JPY, seem less interesting amid a light calendar during the early part of the day.

That said, Japan policymakers verbal intervention weighs on the USDJPY while CHF appears the second-best performing G10 currency versus the Greenback. Further, EURUSD and GBPUSD remain lackluster after a downbeat day.

Elsewhere, Crude Oil recovers from a three-week low while the Gold price remains pressured for the third consecutive day. Also, the US stock future print mild losses and the Asia-Pacific shares edge lower.

However, BTCUSD and ETHUSD print minor losses as crypto bulls take a breather while reassessing the odds of early spot ETF approvals and fewer hardships from the US SEC.

Following are the latest moves of the key assets:

• Brent oil recovers from a three-week low, snapping two-day losing streak around $86.70 by the press time.

• Gold price stays defensive around $1,980 during a three-day downtrend.

• USD Index prints minor gains around 106.70 after a downbeat start to the week.

• Wall Street closed with mild gains but the Asia-Pacific stocks edged lower. However, equities in Europe and the UK are slightly positive of late.

• BTCUSD and ETHUSD both pare recent gains around $34,500 and $1,800 as we write.