About 24% of global central banks intend to increase gold reserves in 2023. Rising inflation, geopolitical turmoil, and worries about interest rates are reasons to increase gold reserves.
Forex News March 29
It’s Wednesday, traders! Here’s what you need to know for today:
- Amazon is looking to buy AMC (the biggest US cinema network). AMNZ stock is up 16.5%.
- Bitcoin gained 3% since yesterday, edging above $28 000. The rest of the crypto market is up 2-5%. The case against its CEO, CZ, caused the initial drop. So far, the market “is buying the dip” in crypto.
- Goldman Sachs says AI implementation may increase the global GDP by 7%.
- The BOJ Governor: The Bank should be ready to create its own CBDC (Central Bank Digital Currency) to offer a safe financial system to citizens.
- The US agreed on increasing the national debt limit once again.
- CB Consumer Confidence in the US exceeded expectations (104.2 vs. 101.0).
- US President Biden said, “The banking crisis is not over yet, and we should do what is possible for banks.” Probably, he is pointing to more bailouts for problematic banks.
- Gold declined 1500 points today, moving closer to the support of $1960.
What are you trading today? Share in the comments, and good luck!
Greetings to a brand new week full of events, economic releases and US debt frictions. We are here to tell you everything you need to know!
The US dollar index breaks one resistance after another. Read the report to learn the next target for the US dollar index!
Saudi Arabia agreed to cut oil production. What will happen with the oil price now?
The situation on the labor market still looks optimistic. Today we expect the Unemployment rate data. 3.5% is expected.
The first day of June should’ve brought us the US default. Unsurprisingly, the US House passes the debt ceiling bill at the latest possible moment.