Observing news today one can easily get disappointed. However, things are getting better.
Gold keeps to 1-month maximum ahead of Fed meeting
On Tuesday, gold stuck to the month’s maximum in European trade because market participants looked ahead to a Federal Reserve policy gathering for any clues on the timing of the next American rate lift as well as prompts on how the key US financial institution intends to pare back its balance sheet.
Gold futures got to $1,256.73 a troy ounce adding 0.2% in New York.
The Fed isn’t actually supposed to take action on its interest rates at the conclusion of the two-day policy gathering on Wednesday. So, rates won’t probably leave the range 1.0%-1.25%.
The key bank is going to issue its post-meeting statement as traders monitor any change in language that could hint more clearly at a rate lift in the months ahead.
Traders will also monitor how and when the Federal Reserve will start cutting its $4.5 trillion balance sheet.
The most popular precious commodity is extremely sensitive to fluctuations in American interest rates.
XAU/USD reversed down from the $1,700 area and dropped to $1,586 on March 12.
Oil market crashed after OPEC+ didn’t agree on production cuts. What’s next? Let’s see what bank analysts have to say about this.
US Fed comes right on time with the crisis support program announcement. How does the stock market react?
We could gain from buying emerging-market currencies such as South African rand, Mexican peso and Brazilian real.
Here are the most important topics that will determine the dynamics of currencies, commodities and stocks on Thursday, April 9. N