The market takes breath after the long rally. What opportunities do traders have today?
Federal Reserve Meeting
|The Federal Reserve is expected to keep monetary policy unchanged in January after raising the federal funds rate in December.|
|The attention of the market will be focused on the central bank’s statement, which is to be released at 21:00 MT time on January 31. If the Fed is positive about the US economy and remains focused on further rate hikes, the USD will gain. If the US central bank becomes cautious, the greenback will suffer.|
The United States will publish a weekly update on unemployment claims on July 9, at 15:30 MT time.
The market sentiment deteriorated amid increasing virus cases in the USA and Australia. Investors prefer safe-haven assets like gold, the US dollar and the Japanese yen.
Riskier currencies and stocks are in favor of investors. Surprisingly, gold rallies too. Let’s have a closer look.
Congratulations! Gold has just opened a new era... or, rather, reopened...
Canada will publish the employment change and the unemployment rate on July 10, at 15:30 MT time.