Gold prices fell slightly on Friday as investors worried that stronger-than-expected recent US economic data could prompt the Federal Reserve to continue raising interest rates for a longer period. Spot gold fell 0.1 percent to $1,821.80 an ounce, by 0745 GMT. While US gold futures rose 0.2 percent to $1,831.00. …
Read More »Market Drivers – US Session 23/02/2023
Risk aversion continued supporting the US dollar on Thursday, reaching fresh February highs against most major rival currencies. The dollar advanced during Asian trading hours on the back of hawkish FOMC Meeting Minutes, finding sufficient momentum during the US session following mixed US data.Economic Data The annualized pace of growth …
Read More »Friday’s PCE data will be next chance for gold’s trend change
Gold price triggered another bearish run after FOMC Minutes showed a hawkish stance by Fed officials. The US dollar stays dominant across the board despite US Gross Domestic Product disappointing on the second estimate for Q4 2022.Gold price keeps trending lower on Thursday after a bearish Wednesday, where the precious …
Read More »US Dollar stabilized near the highest level in several weeks
The dollar settled below a multi-week high against other major currencies on Thursday, a day after it received support from the latest Federal Reserve minutes that did not change the market’s expectations that the US central bank will raise interest rates further. The euro settled at $ 1.0606, slightly above …
Read More »Gold rose as US Dollar fell and interest rate expectations limited gains
Gold prices rose on Thursday, supported by a slight decline in the dollar, but the odds that interest rates in the United States will remain high for a longer period limit the gains of the yellow metal. Gold in instant transactions rose 0.3 percent to $ 1830.90 an ounce by …
Read More »Market Drivers – US Session 22/02/2023
The US Dollar benefited from the hawkish FOMC Minutes, accelerating its move by the end of the US trading session. The document showed that a few participants favored a 50 basis point (bps) rate hike, while some believed there was an elevated risk of a recession in 2023.Key DevelopmentsAll FOMC …
Read More »FOMC minutes: A few participants favored raising rates by 50 basis points
The first FOMC Minutes in 2023 has been released with investors searching for further insights into the near-term path for policy and any comments regarding the possibility of the Federal Reserve going back to 50 bps hikes. The US Dollar ran higher from a new low at 104.25 in the …
Read More »Gold prices hold firm ahead of the FOMC minutes
Gold holds firm at around $1,835 as traders awaiting Fed minutes. Money market futures began to price in interest rates in the US in the 5.25%-5.50% range.Gold price recovers some ground, though it remains almost flat compared to its opening price. However, it clings to minimal gains before the release …
Read More »US Dollar Expected To Reap Gains If FOMC Minutes Adopt Hawkish Tone
Economists and analysts see that the US dollar is trading narrowly mixed. They also believe that a hawkish tone in FOMC Minutes could push the dollar higher. There are no major data releases scheduled for US session on Wednesday. However, the Fed releases the Feb 1 FOMC minutes. The chances …
Read More »FOMC Minutes: Have Fed policymakers considered switching to larger rate hikes?
On Wednesday, February 22, the first FOMC Minutes in 2023 will be released. Supported by aggressive Fed rhetoric and rising T-yields, the US Dollar Index is expected to record monthly gains. The majority of traders and investors will scan the impending release for comments and quotes referring to the Fed’s …
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