Dollar Steps Up as Final Quarter of 2024 Begins October 1, 2024 Remarks by Fed Chairman Powell yesterday afternoon countered mounting speculation of another 50-basis point rate cut, offering the alternative of two 25-bp moves before yearend as a far likelier scenario. In response, the dollar rebounded overnight by 0.4% against the euro, sterling and…
Gold has been a solid performing asset class this year:… The post Our Latest Target in the Precious Metals Space appeared first on Market Traders Daily. Source link
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By Amanda Cooper and Brigid Riley LONDON/TOKYO (Reuters) -The dollar rose broadly on Tuesday after Federal Reserve Chair Jerome Powell pushed back against bets on more supersized interest rate cuts. The yen steadied close to the middle of its range against the dollar over the past month, after a volatile two days as traders sized…
According to the Eurostat data released today:→ Core CPI Flash Estimate (YoY): actual = 2.7%, expected = 2.7%, previous = 2.8%;→ CPI Flash Estimate (YoY): actual = 1.8%, expected = 1.8%, previous = 2.2%. This news, coupled with yesterday’s statements from the Fed Chair, led to the EUR/USD rate dropping by over 1% from yesterday’s…
Gold is recovering on Tuesday as safe-haven demand increases following Israel’s invasion of Lebanon. Fed Chairman Powell adopts a more cautious, data-dependent stance, which caps gains for the yellow metal. Technically, XAU/USD is at risk of reversing its short-term uptrend and pushing lower. Gold (XAU/USD) recovers marginally to trade in the $2,640s per troy ounce…
Strategy: 3/12 Tunnel The 3/12 Tunnel is a trend-based strategy. This strategy is quite simple, and we have built it using 3 moving averages. Our team has done extensive backtesting on it, and its winning ratio is between 70% to 80%. Recommended Timeframe You can use this strategy on H1, H4, and Daily timeframes. It…
2024.10.01 2024.10.01 Gold Posts Gains Despite Headwinds. Forecast as of 01.10.2024 Dmitri Demidenkohttps://www.litefinance.org/blog/authors/dmitri-demidenko/ If the price of gold has been rising despite headwinds, how high can it potentially soar if the headwinds change to tailwinds? The answer to this question depends on the pace of the Federal Reserve’s monetary policy and the US labor market…
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