Mohicans markets：Focus on Fed Decision This Week
On Friday, spot gold rose by about $23 in the U.S. market in the short-term, recovering some of the previous losses and standing at the 1670 mark, and finally closed up 0.60% at $1675.09 per ounce; spot silver rose to around $19.50 and finally closed up 2.34 %, at $19.62 an ounce. The U.S. dollar index failed to challenge the 110 mark during the European session and fell back, and finally closed down 0.05% at 109.66；The 10-year U.S. Treasury yield fell slightly to 3.453%.
Mohicans markets：Markets Await Next Week’s Meeting
On Friday, September 16, spot gold in the Asian session was in the key position of 1672.10 below the narrow oscillation, and the support in short-term was weak; spot silver blocked back near the 19.2, below the first support 18.88; WTI crude oil recovered all the gains in the session, down to test the first support 84.72; dollar index short pull up to 110 mark above, and the next upside target to see 110.55.
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Many patterns in the forex indicator. It is being formed because of some factors. So, traders should know those factors before making the right decision in this business.
Zenfinex Plus: The All-In-One Trading Tool That's Making a Lot of Noise Among Retail Traders
Zenfinex, a rapidly expanding multi-asset brokerage, has taken a significant step forward in improving its customers' trading experiences with the introduction of Zenfinex Plus last week in Malaysia.
Mohicans markets：Pay Attention to ECB Development
Spot gold oscillated downward and extended losses in the U.S. session, once below $1,660, which was a new low since April 2020. It retraced about $38 from the daily high and finally closed down 1.91% at $1665.06 per ounce; spot silver moved downward with gold, once below the $19 mark, and finally closed down 2.36% at $19.17 per ounce.
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US: August CPI to show consumers received further relief – Wells Fargo
On Tuesday, key inflation data is due in the US. The August CPI print will be watched closely by market participants ahead of the next FOMC meeting to be held September 20-21. According to analysts at Wells Fargo, the CPI will show a decline of 0.2% in August, on the back of a further plunge in gasoline prices.
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RBA sticks to the script but is not on a pre-set path
The RBA hiked by 50 bps as expected on Tuesday this week to 2.35 but stated that it is not on a pre-set path. The RBA is trying to balance the timing of an economy that it sees slowing at some point in the future. The key focus remains for the RBA on household spending and it is uncertain about how that will react to the combination of higher interest rates and the highest inflation Australia has seen since the 1990s.
NZD/USD aims for gains over 0.6090 on weaker-than-anticipated Chinese inflation figures
NZD/USD refreshes daily high, inches back closer to mid-0.6100s amid weaker USD. NZD/USD catches fresh bids on Monday amid the prevalent USD selling bias.
WIKIFX REPORT: NY Fed: 1-year consumer inflation expectations fall to 10-month low of 5.75%
U.S. consumers' inflation expectations slid further in August as gasoline prices extended their steep decline from June's record high, a development likely to be welcomed by Federal Reserve policymakers weighing how big an interest rate hike to deliver next week.
WIKIFX REPORT: JPY hits 20-year low
The yen hit its lowest level against the dollar in two decades on Wednesday, extending recent falls as the gap widens between Japan’s ultraloose monetary policy and Fed tightening in the United States.
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WIKIFX REPORT: GBP/USD prints fresh weekly highs above 1.1700
• UK growth positive in July, but below expectations. • Attention turns to US inflation numbers. • GBP/USD up for the second day in a row, tests the 20-day SMA.
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Mohicans markets：Markets Await September Meeting
In the Asian session on Thursday, September 15, spot gold in the pivoting point 1698.78 further lower, and the primary support focus on 1683.96; spot silver fell below the pivoting point 19.54 after a small rebound, so must pay attention to whether it can return to the pivoting point above; WTI crude oil tested the pivoting point 98.54 after upward approaching the first resistance 89.16; the U.S. dollar index rallied back, erasing most of the intraday.
Market Chaos to Continue? Date: September 15th
This week has been a volatile one from forex to commodities. Tuesday’s CPI and Wednesday’s PPI reports told traders that US inflation is on the march (again), and interest rates are heading higher. Will the chaos continue?
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Mohicans markets：Focus on the U.S. Employment Data
On Wednesday, spot gold oscillated around $1,700 during the day and fell below the $1,700 mark overnight, eventually closing down 0.27% at $1,697.42 per ounce; spot silver diverged from gold, eventually closing up 1.59% at $19.63 per ounce.