S&P 500 drops to its lowest level in more than 3 weeks at the opening. US Dollar Index stays quiet above the 94 mark. Gold finds support near $1265. The troy ounce of precious metal dropped to a daily low at $1265 in the European morning and started retracing its losses as the weak market sentiment ramped up the demand for traditional safe-havens. As of writing, the XAU/USD pair was trading at $1268, still losing a little over $1 on the day. The sharp dropped witnessed in the major European equity indices forced Wall Street to start the day lower. At the moment, both the Dow Jones Industrial Average and the S&P 500 are both down around 1% as the concerns over the trade conflict between the United States and China push investors away from risky assets. News of China looking to curb its investments in U.S. technology firms seems to be the latest development that increased the possibility of a long-lasting trade war. Meanwhile, today’s data from the Federal Reserve Bank of Chicago showed that the National Economic Activity Index fell short of the market expectations as it dropped to -0.15 in May from 0.42 in April. On the other hand, after contracting by 3.7% in April, new home sales in the U.S. rose by 6.7% in May. Following the mixed data, the US Dollar Index was last seen at 94.08, losing 0.12% on the day. Technical levels to consider Supports for the pair align at $1265 (daily low), 1252.50 (Dec. 18 low) and $1243 (Dec. 8 low). On the upside, resistances are located to 1276 (Jun. 20 high) ahead of $1289 (20-DMA) and $1300 (psychological level). 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 EOS ranked number one blockchain in China ahead of Ethereum and NEO: EOS price down 1.6% as the buyers continue to lose the battle FX Street 5 years S&P 500 drops to its lowest level in more than 3 weeks at the opening. US Dollar Index stays quiet above the 94 mark. Gold finds support near $1265. The troy ounce of precious metal dropped to a daily low at $1265 in the European morning and started retracing its losses as the weak market sentiment ramped up the demand for traditional safe-havens. As of writing, the XAU/USD pair was trading at $1268, still losing a little over $1 on the day. The sharp dropped witnessed in the major European equity indices forced Wall Street to start the day lower.… 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.