Author: FX
Gold price drops further as fading Fed 50 bps rate cut bets strengthened the US Dollar’s appeal. The downside in Gold price is expected to be limited due to geopolitical tensions. Investors await the FOMC Minutes and the US inflation data for September. Gold price (XAU/USD) extends its losing streak for the sixth consecutive trading day on Wednesday. The precious metal has been battered by the upbeat US Dollar (USD), which has strengthened as traders are pricing out another Federal Reserve (Fed) larger-than-usual interest rate cut of 50 basis points (bps) in their next meeting in November. The US Dollar…
Remember the resistance zone we marked a few days ago? Well, WTI crude oil has broken above the area! This time, we’re looking at the possibility of a break-and-retest situation: WTI Crude Oil (USOIL) 4-hour Chart by TradingView In case you missed today’s Daily Market Recap, you should know that a lack of material escalation in the Middle East and concerns over China’s growth have limited the demand for crude oil. Meanwhile, traders reeling in their Fed rate cut expectations have supported the U.S. dollar against some of its major counterparts. Remember that directional biases and volatility conditions in market…
PiQ on Twitter China’s Finance Ministry to hold fiscal policy briefing on October 12, detailing intensified adjustment China’s Finance Ministry will hold a press briefing on October 12th to provide insights into fiscal policy and economic development. The briefing, scheduled for 10:00 local time, will introduce details on China’s intensified fiscal policy adjustments aimed at boosting economic recovery. Markets will be closely watching for any additional stimulus measures or fiscal reforms that could influence China’s economic trajectory and global market sentiment. Source link
Expectations for aggressive Fed easing appear to be fading these days, so will the upcoming CPI release further convince the U.S. central bank to shed its dovish feathers? Market analysts are expecting slightly slower price pressures for September, but some leading indicators are hinting at a potential upside surprise. Check out these USD/CHF and AUD/USD setups on my radar in case this happens. This Article Is For Premium Members Only Become a Premium member for full website access, plus get: Ad-free experience Daily actionable short-term strategies High-impact economic event trading guides Access to exclusive MarketMilk™ sections Plus More!…
The Japanese Yen struggles to lure buyers amid uncertainty over future BoJ rate hikes. Hopes for a possible Hezbollah-Israel ceasefire further undermine the safe-haven JPY. Intervention fears cap USD/JPY amid subdued USD demand, ahead of FOMC minutes. The Japanese Yen (JPY) attracted some intraday sellers on Tuesday in reaction to data, which showed that Japan’s real wages fell in August after two months of gains. Furthermore, household spending also declined during the reported month, raising doubts about the strength of private consumption and a sustained economic recovery. This comes on top of blunt comments on monetary policy by Japan’s new…
Have you ever felt overwhelmed by the sheer number of moving average indicators available on the MetaTrader 5 (MT5) platform? While traditional moving averages offer valuable insights into price trends, wading through a sea of lines can be confusing, making it difficult to identify clear trading opportunities. Here’s where the Averages Rainbow MT5 Indicator steps in, offering a unique and visually appealing solution for active traders. This comprehensive guide delves into the world of the Averages Rainbow, exploring its construction, interpreting its signals, and crafting effective trading strategies. So, buckle up and get ready to unlock the secrets of this…
Federal Reserve Vice Chair Philip Jefferson Q&A now:Fed has not changed its approach to monetary policyFed is always thinking about the balance of risksOur goal has been to bring inflation down without causing undue or a disorderly increase in the unemployment rate Performance of labour market gave us headroom to keep policy restrictive for a long periodSize of September rate cut was timelyFed’s rate cut was neither proactive or reactiveAgain, Jefferson not really guiding on what is ahead for the Fed, apart from generic comments. Earlier:Fed Vice-chair Jefferson says will watch incoming data, making decision meeting by meeting This article…
Gold drops to a daily low of $2,604 amid truce hopes between Israel and its neighbors. Safe-haven demand weakens as Hezbollah supports ceasefire efforts, while rising US Treasury yields further weigh on Bullion. Traders adjust Fed rate cut expectations with focus shifting to upcoming US inflation data, jobless claims and consumer sentiment. Gold prices slumped sharply on Tuesday following a strong US jobs report and newswires revealing that Hezbollah supported calls for a truce in the conflict between them and Israel. Hence, hints of a possible de-escalation of the Middle East conflict opened the door for traders to book profits.…
In recent market activity, former 10% owner of Algorhythm Holdings, Inc. (NASDAQ:RIME), Milton C. Ault III, has sold a significant portion of his holdings in the company. The transactions, which occurred on two separate dates, resulted in a total sale value of over $289,000. On October 4, Ault sold 46,900 shares of Algorhythm Holdings at a volume weighted average price of $0.4728 per share, with individual sale prices ranging from $0.45 to $0.49. This sale amounted to approximately $22,175. Following this transaction, Ault’s directly associated entity, Ault Lending, LLC, still held 1,310,000 shares. A subsequent sale on October 7 saw…
Axios citing sources says: Advanced talks are underway to hold a phone call between US present Biden and Israel’s PM Netanyahu.Is it theatre to make it appear diplomatic efforts have been made before the attack? Will it even take place? This article was written by Greg Michalowski at www.forexlive.com. Source link