Gold just flew to the moon and back! What a wild roller coaster ride but traders are likely wondering what’s next for the precious metal. More bearish momentum ahead or will the technical area draw in buyers once again? Gold (XAU/USD) 1-hour Chart by TradingView In the world of trading, imagine the gold market on
Oil (WTI, Brent) News and Analysis Shell forced to halt unit at Europe’s biggest refinery- exacerbating tight supply EIA storage data reveals continuing trend of crude drawdowns – adding to tailwinds The analysis in this article makes use of chart patterns and key support and resistance levels. For more information visit our comprehensive education library
Mediated talks between Chevron and Unions over disputes that have disrupted operations across 3 LNG sites in Western Australia: Wheatstone offshore gas platform Gorgon and Wheatstone LNG plants have ended with no deal. The next step will be taken today, with the opposing sides heading to a Fair Work Commission hearing. The case is expected
Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter AUD/USD TECHNICAL ANALYSIS AUD/USD retreated on Wednesday, dragged down by the Fed’s hawkish monetary policy outlook, but continued to carve out a double bottom, a reversal technical formation typically symptomatic of a waning
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© Reuters. Arthur Hayes, the former CEO of BitMex, has recently conducted an analysis on the potential capital flight from China, following the (CNY) depreciating nearly 15% against the U.S. dollar (USD) this year. The depreciation has ignited speculation about China’s investment strategies in the face of economic instability. Hayes’ analysis was informed by insights
Share: The NZD/USD reversed its course and fell towards 0.5930, after reaching a high of 0.5985. The US Dollar strengthened on the back of rising US yields after the Fed’s hawkish pause. The Fed kept rates at 5.25-5.50% as expected. The bank reduced projections of 100 bps of rate cuts in 2024 to
FOMC INTEREST RATE DECISION KEY POINTS The Fed hit the pause button at its September meeting, holding interest rates at a 22-year high of 5.25% to 5.50%. Policymakers upgraded their GDP outlook and reduced the core PCE projection for the year. Meanwhile, the dot-plot continued to signal another hike in 2023. Gold and the U.S.
Pre-QA comments from chair Powell: Fed is squarely focused on dual mandate Fed has covered a lot of ground, full of facts have yet to be felt We can proceed carefully Our decisions will be based on assessments of data and risks Growths in real GDP has come in above expectations Consumer spending particularly robust
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