GOLD OUTLOOK: FED DOT PLOT WEIGHING ON XAU/USD PRICE ACTION
Swissquote shares up 12% to all-time-high after posting record 1H-2021 results.
Bitcoin tumbled on Monday to a two-week low on China's expanding crackdown on bitcoin mining, as investors grew more uncertain about the future of the leading cryptocurrency.
Dollar corrects lower but remains the strongest
The Indian rupee depreciated by nearly 24 paise against the U.S. dollar on Monday as the strong greenback and high oil prices continued to put pressure on the battered Asian currency.
The price of Gold fell last week as the May’s Consumer Price Index (CPI) report showed inflation hitting a 13-year high. The Federal Reserve Chair Jerome Powell acknowledged the inflation could run higher than planned in the short term. He further clarified that “longer-term inflation expectations are anchored at a place that is consistent with our goal.” The market gave a ‘vote of confidence,’ causing the U.S. dollar to rise against other major global currencies.
A trader's trading lessions summarized from three-year forex trading experience.
●US Federal Reserve’s hawkish surprise spurred demand for the American currency. ●Upbeat Australian employment figures fell short of twisting RBA’s hand. ●AUD/USD turned bearish in the long-term, additional declines expected next week.
The pair - EUR-USD - plunged to 1.1846, its deepest in two consecutive months, and ended the week very close to such a low. United States Federal Reserve engraved life to the forex markets with a bullish shock, which increased requests for the buck.
Hawkish Fed – these words have seldom been printed together when the sudden alteration from the earth’s most authoritative bank has been enhancing the buck. For GBP-USD, the decision now swings to the BoE, which needs to consider economic hopefulness and the widespread of the covid virus.
Bitcoin Will Drop 94% in the Next Year
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Minneapolis Fed President Neel Kashkari calls DOGE a ponzi
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EUR/USD sellers attack 1.1850 ahead of ECB’s Lagarde speech.
Global multi-asset broker HotForex has announced that its exclusive reward program ROFM (Return on Free Margin) is available again offering new and existing clients the opportunity to earn generous returns up to 3% on their free margin.
BRITISH POUND (GBP) PRICE OUTLOOK
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