Gold prices stabilized on Friday despite the precious metal’s trend for a weekly gain, with investors focused largely on the Jackson Hole seminar for clues about the US Federal Reserve’s policy to curb inflation. Spot gold consolidated at $1,757.99 an ounce at 0624 GMT, but rose 0.6 percent so far …
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The US dollar ended Thursday mixed although there were no significant changes among major pairs. Investors are mildly optimistic as macroeconomic data was positive upbeat but cautious ahead of central banks’ governors, set to speak within the Jackson Hole Economic Symposium.The EUR/USD pair briefly traded above parity but could not …
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Noticeably, traders, investors and economists have spent much of this week anticipating Jackson Hole Symposium which has now officially begun. Of course, markets are all waiting for the remarks by Fed Jay Powell which come at 10 o’clock tomorrow morning, Eastern Time. Markets have got some economic data that come …
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The USD/CHF pair picks up bids to refresh intraday high, adds to the second consecutive weekly gain. Cautious optimism drove US dollar downwards ahead of the latest rebound amid pre-data as well as Jackson Hole event anxiety.A 10-week-old descending trend line and the 100-DMA, respectively near 0.9650 and 0.9665, restrict …
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Adrian Orr, the governor of the Reserve Bank of New Zealand has stated that he thinks there will be at least another couple of rate hikes. This is being reported by Bloomberg TV covering Jackson Hole. Federal Reserve chair Jerome Powell’s speech is going to be key, but the bears …
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The second estimate of Q2 GDP showed the US economy contracted at a slower-than-expected rate of 0.6%. Upward revisions to underlying demand and a first read from the income side weakens the argument that the economy is currently in recession. The US economy contracted at a 0.6% annualized rate in …
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US Treasury yields slid on Thursday after hitting multi-week highs the previous session, as investors balanced their positions amid uncertainty as to what Federal Reserve Chair Jerome Powell might say when he speaks on Friday at a global central bank conference in Jackson Hole.The bond market expects Powell to stick …
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Gold price advances almost 0.30% on Thursday, courtesy of an upbeat sentiment and overall buck’s weakness. Investors still digest mixed US economic data, released ahead of Powell’s speech.Fed officials expect a 50 or 75 bps rate hike at the next meeting; awaiting September’s data. Gold Price trades in the green …
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The AUD/USD bulls are hanging following a significant strong move to the upside as China’s stimulus boosted risk sentiment and the proxy AUD.The Jackson Hole is now the main focus across financial markets. The AUD/USD pair is 1% higher on the day as the US dollar continues to find sellers …
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The chances for a global recession drive the demand for safe-haven assets, and traditionally the US dollar is one of them. From a technical point of view, the US economy has already entered a recession due to posting two straight quarters of negative GDP growth. The EUR/USD pair has broken …
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