EUUSD 🔽 GBP/USD 🔽 AUD/USD 🔽 USD/CAD 🔼 XAU 🔽 WTI ▶️
https://preview.redd.it/vgh1dzlxp6j91.jpg?width=1081&format=pjpg&auto=webp&s=55af3d303a4e53269d961d1b9a23f9630fb6ab6e
There is a month between now and the next US Federal Reserve interest rate decision and the investors are undecided about how high it would be. Given the falling gas prices, strong labor market, and the looming recession, the US central bank could favor a 50 bps rate hike. On the other hand, the latest comments from Fed officials maintained they are adamant about controlling inflation to 2%, hinting at another 75 bps rate hike.
As a result, the greenback extends its strong run against its peers. EUUSD slid to 1.0034, and despite having slightly optimistic retail sales readings, GBP/USD stabilized at 1.1820 and closed at 1.1827. The Aussie was held back by a sluggish Chinese economy, AUD/USD went below 0.7000 to 0.6872, while USD/CAD climbed to 1.2993 and edged towards 1.3000.
With another rate hike marked on the calendar, gold’s safe haven status was overshadowed by the US dollar, gold futures declined to $1,762.9 an ounce. Oil prices were stuck between prospects of Iranian oil entering the market and a possible recession, which ended up closing at $90.44 with little change.
In US stocks, Bed Bath & Beyond (BBBY) enjoyed a rapid rise that reached meme status, but it just lost 40.54% of its market cap, after a major shareholder sold his entire stake.
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submitted by Mitrade_Official to u/Mitrade_Official [link] [comments] https://preview.redd.it/vgh1dzlxp6j91.jpg?width=1081&format=pjpg&auto=webp&s=55af3d303a4e53269d961d1b9a23f9630fb6ab6e
There is a month between now and the next US Federal Reserve interest rate decision and the investors are undecided about how high it would be. Given the falling gas prices, strong labor market, and the looming recession, the US central bank could favor a 50 bps rate hike. On the other hand, the latest comments from Fed officials maintained they are adamant about controlling inflation to 2%, hinting at another 75 bps rate hike.
As a result, the greenback extends its strong run against its peers. EUUSD slid to 1.0034, and despite having slightly optimistic retail sales readings, GBP/USD stabilized at 1.1820 and closed at 1.1827. The Aussie was held back by a sluggish Chinese economy, AUD/USD went below 0.7000 to 0.6872, while USD/CAD climbed to 1.2993 and edged towards 1.3000.
With another rate hike marked on the calendar, gold’s safe haven status was overshadowed by the US dollar, gold futures declined to $1,762.9 an ounce. Oil prices were stuck between prospects of Iranian oil entering the market and a possible recession, which ended up closing at $90.44 with little change.
In US stocks, Bed Bath & Beyond (BBBY) enjoyed a rapid rise that reached meme status, but it just lost 40.54% of its market cap, after a major shareholder sold his entire stake.
📱 Get instant market news delivered to you in real-time→ https://mytd.cc/1Kq
Mitrade has appeared on Yahoo Finance, Bloomberg, MarketWatch, Nasdaq and more. For more details: https://www.mitrade.com/about-us/media Our awards: https://www.mitrade.com/about-us/awards
Follow Mitrade's other social channels: Twitter: u/MitradeOfficial Instagram: u/mitrade_official *Not Personal Advice. All trading involves risks. This information is not intended for distribution where it is contrary to local regulation.
