The US Dollar Index (DXY) trades near 101.60 on Wednesday, at a one-year high as markets looked ahead to Thursday’s United States (US) Personal Consumption Expenditures Price Index (PCE), the Federal Reserve’s (Fed) preferred inflation gauge.
Gold (XAU/USD) extends losses for the second consecutive day on Wednesday as the US Dollar Index (DXY) surges to 13-month highs near 102.00. The precious metal has breached the 4,100 line and is heading to retest Year-to-date lows, at $4,023, and probably also the $4,000 psychological level.
Dow Jones futures fall by 0.13%, trading near 52,000 during the European hours on Wednesday. However, S&P 500 futures are up by 0.13% near 7,450, while Nasdaq 100 futures advance 0.36%, trading near 29,770 at the time of writing.