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.
Tag - gold
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!
Gold price failed to break above $1900 last week and slid down. Read the article to see the technical outlook for the price!
Gold has plunged amid the stronger US dollar as investors await the Fed’s meeting this week.
The US inflation will come out today at 15:30 GMT+3. Traders can’t wait to see the numbers as they will impact all the pairs with the USD!
The traders’ focus remains on Thursday’s report on US inflation, which may push the Federal Reserve to start discussing tapering bond-buying.
Fibonacci Levels XAG/USD: Silver facing a further consolidation below 23…
The market sentiment is risk-on on Tuesday. The US dollar dipped, while risky assets are rallying up. Jump in to get fresh trade ideas!
Ichimoku Kinko Hyo EUR/JPY: The pair is trading above the cloud…