XAUUSD after the FOMC meeting.
Updated
⚡️Gold prices continue to decline after the Fed's interest rate decision. The Fed kept the current benchmark policy rate unchanged at 5.5%. Precious metals are under pressure ahead of the Fed's forecast of additional interest rate hikes in 2023.
⚡️Gold prices continued to lose money for the third straight day, trading around $1,925 lower in the early trading hours of Thursday's Asian session. As expected, the US Federal Reserve (Fed) maintained its current benchmark policy rate at 5.5% during its meeting on Wednesday.
⚡️Precious metal prices are facing downward pressure as the Fed is expected to raise additional interest rates in 2023. Furthermore, the Federal Open Market Committee (FOMC) revealed in the statement monetary policy, predicting inflation to be slightly higher than previously forecast.
⚡️ According to the FOMC meeting, the Fed will raise interest rates again in November or December and this will be the last increase of 2023.
⚡️Gold prices continued to lose money for the third straight day, trading around $1,925 lower in the early trading hours of Thursday's Asian session. As expected, the US Federal Reserve (Fed) maintained its current benchmark policy rate at 5.5% during its meeting on Wednesday.
⚡️Precious metal prices are facing downward pressure as the Fed is expected to raise additional interest rates in 2023. Furthermore, the Federal Open Market Committee (FOMC) revealed in the statement monetary policy, predicting inflation to be slightly higher than previously forecast.
⚡️ According to the FOMC meeting, the Fed will raise interest rates again in November or December and this will be the last increase of 2023.
Note
⚡️ The central bank held interest rates steady on Wednesday, as widely expected.Trade active
Note
⚡️Gold price recovers some lost ground around $1,920 amid the USD demand. Hawkish comments from Federal Reserve (Fed) Chair Powell drags gold price lower.Trade active
Note
⚡️Gold prices ended the week little changed, rebounding from a one-week low, as markets continued their debate on whether the Federal Reserve’s final rate hike for the year would be in November or December.Trade active
Note
Note
⚡️Next week, US data includes Consumer Confidence, Durable Goods Orders, and Initial Jobless Claims to provide further direction.Note
⚡️ The market seemed to stand still for 2 trading sessions this morningNote
⚡️The DXY hit a new YTD high at 106.09, reflecting US strong economy, as soft-landing prospects grow.Trade active
Trade closed: target reached
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