Market Update: USD decline, Fed minutes, Gold, FX, and Crypto rallies

November 24, 2022
by Joseph Jeffriess, Market Analyst

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?

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