Market Update: USD decline, Fed minutes, Gold, FX, and Crypto rallies
In today’s update, we run over USD, AUD, EUR, GBP, gold, and some crypto coins after yesterday’s Fed minutes supported risk asset buying. The message from the Fed looks to have moved more dovish as the central bank hinted that future rate increases could become smaller.
The USD sold off after the minutes, and risk markets continued to push higher. Gold snapped out of its move lower to close the session higher. Could this be the first continuation confirming a new trend?
Crypto saw a positive Wednesday. We have included a few of the top movers from the top 10 in today’s report. We have also run over a few levels to keep an eye on. Market momentum at this stage looks to be back on the risk side of things. Will we see this trend continue?
Market Analysis Video
Thanks for stopping by. Good trading.
* The information provided on this page are the opinions of the author and do not necessarily reflect the opinions of Eightcap and are not endorsed by Eightcap.
Any person acting on the information presented on this page does so entirely at their own risk. No representation or warranty is given as to the accuracy or completeness of this information. Any research provided does not have regard to any specific investment objectives, financial situation and needs of any specific person who may receive it.
Margin trading involves a high level of risk and may not be suitable for all investors. You should carefully consider your objectives, financial situation, needs and level of experience before entering into any margined transactions with Eightcap, and seek independent advice if necessary.