USD is at two-week low, gold rises
Here are a short wrap of the latest news and the tech analysis of EUR/USD, AUD/USD, and gold.
Federal Reserve makes a decision
US central bank lifted the interest rate at the March meeting. The market expects at least two more rate hikes this year. The US dollar has already strengthened much, and the central bank has to increase the interest rate to make the greenback’s rally continue.
At the last meeting of the Federal Reserve in May, it hinted at a possible rate hike in June.
The Federal Reserve will release the rate statement at 21:00 MT time on June 13.
• If the Fed raises the interest rate, the USD will move up.
• If the Fed doesn’t increase the interest rate, the USD will lose momentum.
Moreover, the Federal Reserve will hold a press conference at 21:30 MT time. In the first part, its Chairman Jerome Powell will read a statement containing comments on the economic conditions that influenced the central bank’s decision. After that, he will answer the questions of the press. Answers will create a high volatility in the market. During the press conference, traders will get clues on the future policy of the Fed.
Similar
Any optimism for the Canadian labor market?
Canadian Employment Rate and Unemployment Change are announced on April 9, at 15:30.
Forex today: gold, AUD/USD, and USD/JPY
Read the report to get the fresh market wrap and trade ideas for today!
Latest news
S&P ASX 200: one step from a breakthrough
The Australian economy has been on a steady recovery path, and now we have a very symbolic confirmation that S&P ASX 200 is about to cross 7000!
Strong USD is back
Jump in to know the latest market news and trade ideas for today!
NZD will be driven by RBNZ
The Reserve Bank of New Zealand will hold a meeting on Wednesday, April 14, at 05:00 MT.
Deposit with your local payment systems
