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OPEC members haven’t been able to agree on oil output yesterday. The US dollar jumped ahead of the NFP report today.
Cathie Wood’s Ark Invest filed for the creation of a Bitcoin ETF. Apple and Amazon jumped and airlines and cruise operators dropped as the reflation trade waned.
The Bank of England was more dovish than expected and pressed down GBP/USD to 1.3900.
Microsoft joined Apple in the $2 trillion dollar club! Follow PMI reports from the US, UK, and EU throughout the day!
The US stock market rebounds as the prospect of very gradual policy tightening calms down investors. rude oil and gold jumped as the US dollar weakened.
The US dollar has surged to levels unseen since April after the Fed's decision back on Wednesday. Gold has reversed up from the local dips. Still, this week was the worst for gold in more than a year.
The Fed made a hawkish surprise! The bank would start a discussion about scaling back bond purchases. Besides, it is likely to make two interest-rate increases by the end of 2023 (sooner than expected)!
Everyone is interested in trading gold (XAU/USD). The meeting of the Federal Reserve at 21:00 MT time (GMT+3) will certainly drive the price.
Gold prices tumbled during the first trading day of the week declining to as low as 1844 USD/Oz. However, it was able to trim these losses and closed the day around 1866 USD/Oz.
EUR/USD is recovering after the enormous slump on Monday. Follow US Retail Sales at 15:30 MT time!