USD strength drags the XAU/USD to a fresh 2018 low. Wall Street looks to open in the red. Weekly jobless claims and Philly Fed Manufacturing Index will be next. The XAU/USD pair plummeted to its lowest level in more than 6 months at $1261.79 earlier today but was able to limit its losses ahead of the macroeconomic data releases from the United States. As of writing, the pair was trading at 41263, still down $5, or 0.4%, on the day. The selling pressure on Thursday seems to be a product of a stronger greenback. After losing its bullish momentum near the 95 handle in the last three days, the US Dollar Index made a decisive rise above that level to touch its best level in more than 11 months at 95.22. However, the index is now taking a breather and moving sideways near the 95 mark, where it was up 0.25% on a daily basis. The macroeconomic calendar will feature the weekly jobless claims and the Philly Fed Manufacturing Survey from the United States. A faster-than-expected expansion in the manufacturing activity could help the buck start gathering strength against its rivals. On the other hand, the precious metal seems to be finding some demand as a safe-haven as global major equity indexes stay under pressure. As of writing, Germany’s DAX was down 0.8% and the UK’s FTSE 100 was losing 0.6%. In pre-market trading, both the Dow Jones Industrial Average and the S&P 500 remain in the negative territory. A negative market sentiment in the remainder of the day could make help the pair limit its losses. Technical outlook The next short-term support for the pair could be seen at 41252.50 (Dec. 18 low) followed by $1243 (Dec. 8 low) and $1236 (Dec. 12 low). On the upside, resistances align at $1270 (daily high), $1276 (Jun. 20 high) and $1290 (20-DMA). 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 CHF: Intervention threat – Rabobank FX Street 5 years USD strength drags the XAU/USD to a fresh 2018 low. Wall Street looks to open in the red. Weekly jobless claims and Philly Fed Manufacturing Index will be next. The XAU/USD pair plummeted to its lowest level in more than 6 months at $1261.79 earlier today but was able to limit its losses ahead of the macroeconomic data releases from the United States. As of writing, the pair was trading at 41263, still down $5, or 0.4%, on the day. The selling pressure on Thursday seems to be a product of a stronger greenback. After losing its bullish momentum near… 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.