On Thursday, February 9, international gold prices moved higher for the fourth consecutive session as the U.S. dollar index softened again; however, the outlook for gold prices remained cloudy as several Fed officials indicated the need for further rate hikes to curb inflation, although there was no hint that the Fed would return to a more aggressive monetary policy stance.
Although a number of Fed officials, including the "new king of the hawks" Kashkari, have made tougher speeches, they were not as fierce as Powell's speech before, and the trend of the dollar index was relatively mild. By the end of the day, the dollar index was only up 0.18% at 103.5. U.S. bond yields turned up at the beginning of the U.S. session, but thanks to strong 10-year U.S. bond bids, U.S. bond yields turned down.
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【Dow Jones】 【Euro】 【Gold】 【Crude Oil】
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Tuesday night's speech by Powell sent shockwaves through the markets. After he mentioned that the inflation retreat process had begun, the dollar index continued to fall, once dipping to 103; he then said that the inflation retreat process was only at the beginning, after which the dollar index recovered some of its lost ground and closed 0.2% lower at 103.39. U.S. bond yields turned lower after Powell's speech and recovered all their losses in late trading.
【Dow Jones】 【Euro】 【Gold】 【Crude Oil】
WCG Markets:2023-02-08
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While this has the potential to combat inflation, it also has negative consequences for both economic activity and investment returns. Investors who are in the market for looking for the best stocks to buy in 2023 can expect some challenges. Unfortunately, until there is a significant policy change to boost the economy, turbulence is likely to continue into 2023.
On Tuesday, February 27, during the Asian session, spot gold shocked slightly up and is currently trading near $ 1874.11 per ounce; A slight pullback after the dollar's rally was blocked gives gold a chance to rebound; however, gold prices are limited, because the Fed chairman will speak in the evening, the market wait-and-see sentiment is thick.
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【Dow Jones】 【Euro】 【Gold】 【Crude Oil】
WCG Markets:2023-02-07
Influenced by the unexpected non-farm data, the market was still pricing the Fed to turn hawk on Monday. In addition, Bostek, FOMC Voting Commission and Chairman of the Atlanta Federal Reserve in 2024, also "set off the eagle". At present, the probability of the Federal Reserve raising interest rates by 25 basis points in March is up to 97%, and the probability of the peak interest rate exceeding 5% this summer is close to 85%.
The week ahead – Top 5 things to watch
As a trader you are expected to have an intuition as a vital traits, as a factor that helps you to predict the next explosively lucrative market move, Some have it naturally, but the good news is that with patience and practice, the muscle of trading insight can be worked and developed in every investor. And it starts with understanding indices.
According to some analysis, Compared to last week’s news releases, this week in the forex markets will be a relief to investors as high impact data is scarce.
The USD/CHF is moving sharply during Friday’s North American session, as Wall Street is set to finish the last trading day of the week with losses. Therefore, the USD/CHF is trading at 0.9260, above its opening price by 1.42%.
Majority of the Experts believe that gold may appear to be the best-performing asset in 2023. It can outperform other leading instruments including cryptocurrencies and stocks due to the FED’s ease in the tightening inflation cycle.