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Market News Gold's Dip Buying Offsets Pressure From Rising Dollar
Markets News
Gold's Dip Buying Offsets Pressure From Rising Dollar
TOPONE Markets Analyst2022-11-15 09:30:00
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ForexThe U.S. dollar index traded around 106.87; the greenback rose on Monday after the Federal Reserve said it would not ease its crackdown on inflation.📝 Review:The dollar rose on Monday after Federal Reserve Vice Chairman Brainard said on Monday that the central bank may soon slow down the pace of rate hikes and try to figure out how high borrowing costs need to be and how long they should stay there to bring inflation down.🕵️ Operation suggestion:go long GBP/USD 1.17545 position, target price 1.18631
GoldUS gold futures rose 0.4% to settle at $1,776.9. Gold prices held steady as low-buy buying offset pressure from a rising dollar. Silver jumped 1.5% to $22 an ounce, the highest since June 9 .📝 Review:Gold prices held steady on Monday as bargain hunting offset pressure from a rising dollar after the Federal Reserve said it would not ease its crackdown on inflation. Spot gold rose 0.1% to $1,772.94 an ounce, after falling as much as 1% earlier.🕵️ Operation suggestion:go long at 1770.33, the target price is 1778.18
Crude OilBrent crude futures settled down 3% at $93.14 a barrel, while U.S. crude futures fell 3.47% to $85.87.📝 Review:Oil prices settled about $3 lower on Monday, dragged down by a stronger dollar and growing concerns about the outbreak; the dollar also rose against the euro and yen after a policymaker said it was reading too much into last week's data showing cooling U.S. inflation , investors are preparing for a possible rate hike by the Federal Reserve.🕵️ Operation suggestion:go long at 84.740l, target price 87.941
IndiceThe Dow Jones Industrial Average fell 0.63% to 33536.7 points, and the S&P 500 Index fell 0.89% to 3957.25 points. The Nasdaq fell 1.12% to 11196.22.📝 Review:Major U.S. stock indexes closed lower on Monday, led by real estate and consumer discretionary stocks, as investors digested comments from Federal Reserve officials on plans to raise interest rates and looked for the next catalyst after last week's sharp rally in stocks. Earlier, the market had seen a saw-saw in the flat market for a while, and the decline accelerated towards the end of the session. The focus turned to the producer price index report due on Tuesday. The market is highly sensitive to inflation data.🕵️ Operation suggestion:long the Nasdaq index is at 11988.700, the target priec is 11735.200
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