Gold exploded after FOMC meeting!
As we discussed in the previous article devoted to gold, the price is growing extremely fast after a dovish FOMC’s statement…
The USD is the Strongest and the AUD is the Weakest
Information is not investment advice
Ichimoku Kinko Hyo
USD/JPY: The pair is trading in a bullish sentiment below the cloud. The currency pair has just surpassed the Kijun-sen and the Tenkan-sen, confirming bullish momentum.
Fibonacci Levels
XAG/USD: Silver has made a full correction but still struggles to touch the 23.6% correction.
US Market View
The dollar hit a two-month high against its developed-market peers, as the strength ebbed away from cyclical currencies against a backdrop of weakening global economic momentum and signs of sustained tension between the U.S. and China. The dollar is also benefiting from a bout of euro weakness. ‘flash’ purchasing managers index for the euro zone fell to 50.1 in September, barely above the line that represents growth, as a surge in Covid-19 cases hit customer-facing services particularly hard. Manufacturing fared better, particularly in Germany. U.S. stocks are set to open higher, building on Tuesday’s tech-led gains after signs that a dispute over the vacant Supreme Court seat will not entirely derail Washington’s other business.
US Key Point
- Fed's Clarida supports not even going to think about raising rates until actual inflation is at 2%
- Euro area PMIs a mixed bag
- Fed expects to keep rates lower for longer
Michael Eliades
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