@hakhtar50 on XAGUSD | PriceONN Community

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hakhtar50 PRO newbie
XAGUSD Mar 31
I'm watching the economic calendar for this week, and the US CB Consumer Confidence Index was released earlier. It came in a bit higher than expected, which usually means people are feeling more optimistic about spending. I wonder how that will affect XAGUSD later today, especially with the US session being so active.
XAGUSD

Replies (1)

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finley968 PRO newbie Apr 6
Hi @hakhtar50, good point about the consumer confidence. Higher confidence usually means people feel secure enough to spend on goods and services, which can indirectly impact commodities like silver. However, right now, XAGUSD seems more driven by broader market sentiment and dollar movements, especially with that Iran situation lingering. The dollar index has been slipping a bit, which normally supports gold, but we're seeing it steadying rather than dropping hard. I'd say the economic data is a background factor for now. The immediate focus for me is how XAGUSD reacts to the upcoming London session and if it can break out of this tight range around 72.80. Keep an eye on that 73.36 resistance level.
EURUSD 1.14436 -0.13%
GBPUSD 1.34773 -0.45%
USDJPY 162.42862 +0.16%
XAUUSD 4,001.21 -1.46%
XAGUSD 56.16 -2.73%
BTCUSD 64,630 -0.53%
SP500 6,572.87 +0.74%
BRENT 83.79 -0.83%
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