Due to reversal pattern and change in trend dynamic, I see potential for the further rally...
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EUR/USD holds gains above 1.1100, Fed rate decision in focus
EUR/USD is holding gains above 1.1100 in the European session on Wednesday. A broadly weak US Dollar, amid increased bets of an outsized Fed rate cut and a cautiously optimistic market mood, underpins the pair. All eyes remain on the Fed policy verdict.
GBP/USD extends rebound above 1.3200 after UK inflation data
The GBP/USD rebound gains traction above 1.3200 in European trading on Wednesday. The data from the UK showed that the annual core CPI rose 3.6% in August, up from a 3.3% increase in July, and supported the GBP. Focus shifts to Fed policy decisions.
Gold pulls back ahead of Fed ruling
Gold hit a record high of $2,589 at the start of the week after market bets that the Fed would make a double-dose 0.50% cut to interest rates at its meeting later today rose sharply. A bigger rate cut from the Fed would be positive for Gold because it lowers the opportunity cost of holding the yellow metal, which is a non-interest-paying asset. This makes it more attractive to investors.
Federal Reserve set for first interest-rate reduction in four years amid growing bets of jumbo cut
The Federal Reserve is widely expected to lower the policy rate after the September meeting. The revised Summary of Economic Projections and Fed Chairman Powell’s remarks could provide important clues about the rate outlook.
UK CPI set to grow at stable 2.2% in August ahead of BoE meeting
The United Kingdom Office for National Statistics will release August Consumer Price Index figures on Wednesday. Inflation, as measured by the CPI, is one of the main factors on which the Bank of England bases its monetary policy decision, meaning the data is considered a major mover of the Pound Sterling.
Moneta Markets review 2024: All you need to know
VERIFIED In this review, the FXStreet team provides an independent and thorough analysis based on direct testing and real experiences with Moneta Markets – an excellent broker for novice to intermediate forex traders who want to broaden their knowledge base.