As markets digest the Fed’s policy statement on Wednesday, gold futures prices have recently risen above $1,900. Analysts said that Powell ruled out a 75 basis point rate hike in the coming months, eliminating some downside risk for gold. Now, the focus will be on the NFP report on Friday. As bulls continued to control Read More…
The ES fell around 0.6% in premarket as Fed’s rate hike impact weighed on the index. Fed’s Powell announced that he would not consider a 75-bps rate hike in the next meeting. Covid-19 restrictions in China keep global stocks under pressure. The E-mini S&P 500 (ES) futures fell 0.6% in premarket trading. On Wednesday, the Read More…
The British pound (6B) rose more than 0.50% after hitting a 22-month low. The US dollar pauses the uptrend and corrects lower before the weekend. The Bank of England’s rate hike plan may not help the pound prevent further losses. Over the weekend, the British pound (6B) rose half a percentage point as the pound Read More…
Gold futures (GC) saw a dip below $1,900 on Wednesday. Fed’s rate hike plan keeps the dollar-dominated gold under pressure. Negative risk sentiment may keep the losses limited. Gold futures (GC) prices remained in a tight range on Tuesday. However, the price dipped below the $1,900 level and broke the previous monthly lows of $1,890. Read More…
Wednesday marks the fourth consecutive day that the CHF/USD pair has seen strong bearish momentum. The dollar surged near two-year highs in response to the Fed’s hawkish outlook. CHF safe haven boosted by softer risk tone ahead of FOMC minutes. In the first half of the European session, the CHF/USD futures (MSF1) exchange rate maintained Read More…
Rising US yields weigh on the JPY/USD futures. The Bank of Japan maintains its dovish policy, further igniting the bears. US PMIs, durable goods data, and Fedspeak are the key focus for the market participants. Futures prices for JPY/USD (6J1) remain strongly influenced by US Treasury yields. However, we anticipate that the pair will gain Read More…
