The FOMC’s statement doesn’t offer any surprises. US Dollar Index erases its daily losses to turn flat near 94.20. Wall Street retraces upside, remains in the positive territory. The XAU/SD pair recorded small losses after the USD started to gather strength on the back of the FOMC minutes. As of writing, the pair was trading at $1255.80, down around $1 on the day. According to the FOMC’s statement,  the Committee sees further gradual increases in the policy rate would be consistent with the sustained economic expansion and repeats that it will continue to assess the realized and expected economic conditions relative to its full employment and 2% inflation targets. The US Dollar Index quickly erased its daily losses and turned flat near 94.20 but lacked a follow-through amid a lack of any new information on the monetary policy outlook. Regarding the Trump administration’s trade policy, Committee members voice their concerns over possible adverse effects of tariffs on the economic activity and future investment decisions. Furthermore, most participants noted that the uncertainty and risks associated with trade policy had intensified. Major equity indexes in the U.S. reacted negatively to these comments and both the Dow Jones Industrial Average and the S&P 500 retraced some of their recent gains. The DJIA added as much as 0.8% earlier in the session and was last seen up 0.5%. The cautious  tone seems to have weighed on the market sentiment, which allows gold to stay resilient against the buck. Technical outlook  The first technical resistance for the pair could be seen at $1260 (Jul. 4 high) ahead of $1267 (20-DMA) and $1272 (Jun. 24 high). On the downside, supports are located at $1250 (daily low), $1245 (Jun. 28 low) and $1239 (Jul. 2 low). Meanwhile, the CCI indicator on the daily chart is moving sideways near the 0 mark, pointing to a neutral price action in the short-term. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next AUD/USD retreats after Fed’s minutes FX Street 4 years The FOMC's statement doesn't offer any surprises. US Dollar Index erases its daily losses to turn flat near 94.20. Wall Street retraces upside, remains in the positive territory. The XAU/SD pair recorded small losses after the USD started to gather strength on the back of the FOMC minutes. As of writing, the pair was trading at $1255.80, down around $1 on the day. According to the FOMC's statement,  the Committee sees further gradual increases in the policy rate would be consistent with the sustained economic expansion and repeats that it will continue to assess the realized and expected economic conditions… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.