Gold Price Forecast: Gold Hit Take Profit $1,833
Federal Reserve Powell weakens the dollar, pushing gold towards $1,833 The quarterly Advance GDP fell to 6.5% against the expected 8.5% and weighed on the U.S. dollar. Forex trading market participants may sell below $1,833 to target the $1,823 level. Gold prices closed at $1830.30 after placing a high of $1832.60 and a low of $1807.20. […]
The post Gold Price Forecast: Gold Hit Take Profit $1,833 appeared first on Forex Crunch.
Market Summary
Retirement Intelligence
Risk Disclaimer - By using this web site you agree to its terms and conditions.
All materials, including but not limited to articles, directories, photos, lists, etc., on this website are the sole property of ForexTV or the respective copyright holders and are intended for informational/educational purposes using hypothetical and sometimes anecdotal illustrations. The unauthorized use of any and all materials is prohibited and restricted by copyright law. Any us
NZD higher despite RBNZ cautious tone
February 24, 2021SharePrint
The New Zealand dollar has recorded strong gains in Wednesday trading. Currently, NZD/USD is trading at 0.7379, up 0.61% on the day.
RBNZ says prolonged QE needed
The New Zealand dollar continues to shine, as it beats up on the US dollar. NZD/USD has gained 1.2% so far this week, and is up an impressive 2.8% in February. The pair has again posted strong gains on Wednesday, as even a dovish RBNZ rate statement hasn’t curbed the current upswing.
The RBNZ’s message to the markets on Wednesday was crystal clear. The rate statement saying that monetary support would remain for some time. The bank said that “prolonged monetary stimulus” was needed and that inflation and employment targets would take time to be met. The RBNZ maintained interest rates at 0.25% and its QE programme (LCAP) at NZ100 billion. However, the bank noted that it was prepared to “provide additional monetary stimulus if necessary.” Ne