Happy Friday, traders! Are you ready to trade at the end of the week? Here’s what you need to know before you start:
Tag - gold
Usually, the Dollar and GOLD are negatively correlated. This means that the stronger the US-Dollar becomes, the lower Gold prices will be as many more investors will prefer liquid investments. Times of crises and the need to safeguard funds are the major exceptions to this.
Good day for all traders out there! We prepared a gold analysis and a bunch of other news for you to enjoy! Here's what you should know:
XAUUSD remains under pressure despite the US dollar index plunge and the stock market rally.
Last week, Pierre-Olivier Gourinchas, the IMF's chief economist, commented on the IMF's global economic outlook stating clearly that the worst was yet to come. For many people, he opined that the year 2023 would feel like a recession.
XBRUSD and XTIUSD might experience massive volatility due to the Chinese GDP release on Tuesday, October 18.
Fed Chair Powell’s comments on the Jackson Hole Symposium resulted in the worst weekly candle in the US500 index since June. Most risky assets experienced severe drawdowns, and EURUSD returned to the above-parity area. We explain everything you need to know about the Symposium in this article.
Despite a slight decline from its highest levels since 2002, around 109 range, it is just a correction, and the green king, the US dollar, will resume its rally…