Gold prices edged up after four days of declines, but sentiment remained fragile as Fed Chairman Jerome Powell downplayed the likelihood of a December interest rate cut. At 7:02 a.m. Western Indonesian Time (WIB), spot gold was trading around $3,946/ounce, after falling 0.6% overnight. Powell’s cautious tone also pushed the 10-year US Treasury yield above…
The US dollar weakened and approached a one-week low against major currencies on Wednesday, as the market became almost certain the Fed would cut interest rates by 0.25 percentage points tonight. Traders are now more focused on Jerome Powell’s remarks at the press conference later. The market has already priced in a dovish scenario not…
The Japanese yen strengthened, breaking through 152 per US dollar on Wednesday (October 29th), continuing its two-day rally. Market participants are positioning themselves ahead of this week’s Bank of Japan (BOJ) decision. The BOJ is not expected to change interest rates now, but officials are said to be opening discussions about when to raise interest…
The Australian dollar (AUD) edged up to around $0.660 and briefly touched a three-week high on Wednesday. The reason is simple: the market is now almost certain that the Reserve Bank of Australia (RBA) will cut interest rates next week. Why? Because inflation is still hot. The latest data shows that Australia’s annual inflation rate…
The crypto market moved lower on Tuesday. Bitcoin slumped to around $112,000 after experiencing a sell-off earlier in the month, while Ether also fell by around 5% to around $3,900, and most major altcoins also fell, pushing the total crypto market capitalization down by around 1%. Market participants appeared cautious ahead of the Federal Reserve’s…
Silver prices fell to the $46 per ounce area on Monday, continuing last week’s decline. Selling pressure emerged as global markets entered a “risk-on” mode after the US and China reached an initial trade agreement framework. Negotiators from Washington and Beijing agreed to hold off on US tariff increases and suspend controls on rare earth…
