Page 7 - March Fed News Today

Here is what you need to know on Friday, January 19: The tech rally-led risk-on sentiment on Wall Street failed to extend in Asian trading on Friday, as the Middle East geopolitical tensions heated up alongside persistent Chinese economic worries.

Gold price (XAU/USD) oscillates in a narrow trading range during the Asian session on Friday and remains well within the striking distance of over a one-month trough, around the $2,000 psychological mark touched earlier this week.

The Japanese Yen (JPY) oscillates in a narrow trading band against its American counterpart during the Asian session on Friday and reacts little to domestic consumer inflation figures, which eased as expected in December.

Gold price is looking to extend the previous rebound while trading above $2,020 early Friday, benefiting from intensifying geopolitical tensions in the Middle East and a broadly weaker US Dollar.

Stocks have been mixed at the end of the week, as the market recalibrates its expectations for interest rate cuts after push back from Fed and ECB members.

The Pound Sterling (GBP) gave in to the resurgent US Dollar (USD) this week, motivating GBP/USD sellers to fight back control, as the tempered rate cut outlook from the US Federal Reserve (Fed) bolstered the sentiment around the US Dollar.

Gold price (XAU/USD) ticks higher during the Asian session on Thursday and for now, seems to have snapped a two-day losing streak to over a one-month low touched the previous day.

The EUR/USD pair builds on the overnight bounce from the very important 200-day Simple Moving Average (SMA) support near the 1.0845 region and gains some positive traction for the second straight day on Thursday.

The Japanese Yen (JPY) is seen oscillating in a narrow band during the Asian session on Thursday and consolidating its recent heavy losses against the US Dollar (USD) registered since the beginning of this week.

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