Confirming you are not from the U.S. or the Philippines

Dengan memberikan pernyataan ini, saya mengaku dan mengesahkan bahawa:
  • Saya bukan seorang warganegara atau pemastautin A.S.
  • Saya bukan warga Filipina
  • Saya tidak memiliki secara langsung atau tidak langsung lebih daripada 10% saham/hak mengundi/faedah pemastautin A.S. dan/atau di bawah kawalan warganegara atau pemastautin A.S. yang dilaksanakan dengan cara lain
  • Saya tidak berada di bawah pemilikan langsung atau tidak langsung lebih daripada 10% saham/hak mengundi/faedah dan/atau di bawah kawalan warganegara atau pemastautin A.S. yang dilaksanakan dengan cara lain
  • Saya tidak berafiliasi dengan warganegara atau pemastautin A.S. dalam terma Bahagian 1504(a) FATCA
  • Saya menyedari akan liabiliti saya kerana membuat pengakuan palsu.
Untuk tujuan pernyataan ini, semua negara dan wilayah bergantung A.S. adalah sama dengan wilayah utama A.S. Saya memberi komitmen untuk mempertahan dan tidak mempertanggungjawabkan Octa Markets Incorporates, pengarah dan pegawainya terhadap sebarang sebarang tuntutan yang timbul dari atau berkaitan dengan sebarang pelanggaran pernyataan saya ini.
Kami berdedikasi terhadap privasi anda dan keselamatan maklumat peribadi anda. Kami hanya mengumpul e-mel untuk memberi tawaran istimewa dan maklumat penting tentang produk dan perkhidmatan kami. Dengan memberikan alamat e-mel anda, anda bersetuju untuk menerima surat sedemikian daripada kami. Jika anda ingin berhenti melanggan atau ada sebarang soalan atau masalah, tulis kepada Sokongan Pelanggan kami.
Back

Gold Price Forecast: XAU/USD trims some post-Fed Wednesday’s losses up to around $1,773

  • Gold begins the Asian session in the right foot, up 0.28%.
  • The Federal Reserve will begin reducing bond purchases by the middle of November.
  • The Fed would reduce its QE by $15 billion.
  • The US T-bond 10-year yield advances to 1.60%.

XAU/USD advances as the Asian session begin, up 0.28%, trading at $1,774 at the time of writing. On Wednesday, the Federal Reserve decided to keep rates unchanged at the 0 to 0.25% range. Also, the bond taper process is a reality. The central bank said that it will reduce the pace of bond purchases by $15 billion a month, until the end of the stimulus, by the first half of 2022.

Gold reacted to the downside, dipped to $1,759, but found some buying pressure to settle at the end around $1,770. On its way south, the yellow-metal pushed through the 100-day moving average, which keeps USD bulls in control, as long as the price remains below the abovementioned.

Sumary of the Federal Reserve monetary policy statement

Putting this aside, Wednesday’s focus was on the Fed. In its monetary policy statement, the US central bank noted that higher inflation pressures are transitory (sticking to its stance) and added that supply and demand imbalances contributed to elevated prices. Despite the jump in inflation, the Fed sees an improvement in economic activity and observes progress in the labor market.

Concerning the bond purchasing program, the Fed said that they “will begin taper later this month with reductions in treasuries purchases by $10 bln, MBS by $5 bln.” It is worth noticing that the central bank left the door open for adjustments at the QE’s pace. They added that “comparable decreases in buying pace are likely reasonable each month, but we are willing to adapt if necessary.”

As portrayed by US equity stocks printing new all-time highs, market participants’ reaction seems tilted to a dovish taper announcement. However, the central bank left the door open for an accelerating pace in case that higher inflation remains stickier than expected. 

That said, at press time, the US 10-year bond yields advances two basis points, sitting at 1.60%, for the first time in the week. Also, the 2-year benchmark note rate, which gives clues about near-time interest rates, is flat at 0.48%.

Meanwhile, the US Dollar Index slides 0.25%, currently at 93.85, reinforcing the thesis that investors move towards riskier assets exchanging safe-haven currencies, like the greenback and the Japanese yen, as the abovementioned weakened on the release of the Fed’s monetary policy statement.

XAU/USD Price Forecast: Technical outlook

Daily chart

On Wednesday, XAU/USD price action seesawed in a $29 range, reaching a daily low at $1,759 before settling at current levels. The daily moving averages (DMA’s) remain above the spot price but with a flattish slope, depicting gold is in a sideways trend. Further, the yellow metal is approaching the abovementioned levels, signaling that the downward bias is fading. Nevertheless, a clear upside break above the 200-day moving average (DMA) at  $1,800 might keep gold bulls in charge.  In that outcome, the following resistance area would be the July 15 high at $1,834, followed by an empty road towards $1,900.

Conversely, if USD bulls like to remain in control, they need to hold prices below the 200-DMA. In that outcome, the first support area would be the November 3 low at $1,759. A breach of the latter would expose a rising upslope trendline that travels from the August 9 lows towards the September 29 low, around the $1,740-50 area.

AUD/USD Price Analysis: A bottom could be in place ahead of NFP this week

AUD/USD bears are moving in from a first resistance area for the session ahead, although the risks are skewed to the upside considering the hourly dou
Baca lagi Previous

GBP/USD Price Analysis: The bulls are in charge and target a test into 1.37 area

GBP/USD has been bid over the last 24-hours on the back of the looming Bank of England as well as a slide in the US dollar that gave back some territo
Baca lagi Next