US Dollar Outlook: Fed Decision Due â Will it Spark Fireworks?
2021-07-27 22:15:00
Rich Dvorak,
Analyst
US DOLLAR PRICE OUTLOOK: FED ANNOUNCEMENT & YIELDS IN FOCUS
US Dollar edged lower on Tuesday as markets gear up for tomorrow’s Fed rate decision
USD/JPY weakened notably during the session with Treasury yields resuming their drop
Fed Chair Powell might opt to stay cautiously accommodative due to covid variant risk
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The three largest components of the DXY Index – EUR/USD, USD/JPY, and GBP/USD – all reflected notable US Dollar weakness on Tuesday. Though the US Dollar did see some safe-haven appeal and strength against commodity currencies like the Loonie and Aussie, the broader DXY Index finished the session -0.16% lower on balance.
Gold Price Forecast: Ready to Trade $1,795 Breakout?
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Gold Price Forecast: Triangle Pattern Supports at $1,795
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Gold Price Forecast: Is This The Calm Before The Storm?
2021-07-22 20:30:00
Peter Hanks,
Strategist
Gold Price Forecast:
Gold is surrounded by important technical levels ahead of a week with serious market-moving potential
That said, gold traders may wait to make their move until after next week’s FOMC rate decision
Gold Price Forecast: Is This The Calm Before The Storm?
Gold finds itself at a crossroad ahead of a major week for markets. While the current trading week began with a bang in many risk-sensitive assets, gold has enjoyed relatively calm price action and teeters on the brink of a range breakout should US Treasury yields continue to slip. With the July FOMC rate decision fast approaching and gold on the precipice of a potential rally or reversal, price action may slow until the event risk has passed in what could be called the “calm before the storm.”