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AUD/USD Price Forecast: Struggles near 0.6950 as bears retain control below 100-EMA on H4
Forex
$4,100: Gold fails near a key hurdle as Mideast tensions and Fed hike bets support USD
Gold Price Forecast: XAU/USD eyes $4,000 and US GDP amid fresh US-Iran tensions
Pound Sterling Price News & Forecast: GBP/USD meets with a fresh supply
Looking at the 4-hour chart, the pair settled above 0.8150, the 100 simple moving average (red, 4-hour), and the 200 simple moving average (green, 4-hour). There was a clear move above the 1.236 Fib extension level of the downward move from the 0.8150 swing high to the 0.8032 low.
PBOC sets USD/CNY reference rate at 6.7892 vs. 6.7899 previous
EUR/USD jumped on Wednesday after the Federal Reserve left interest rates unchanged, prompting traders to unwind the tightening that had been priced into the front end of the US rates curve ahead of the decision. The resulting decline helped the pair break above the minor downtrend it had been trading beneath since the middle of July.
Gold rebounds to near $4,100 as Fed leaves interest rates unchanged
GBP/JPY Price Forecast: Bulls reclaim 218.00 as RSI improves
The US dollar weakened despite three Fed officials dissenting in favour of a rate hike, as traders pushed back expectations for a second tightening cycle. With the Federal Reserve now behind us, attention turns to the Bank of Japan, where guidance rather than rates is expected to drive the next move for USD/JPY and GBP/JPY.
Near the end of the session, the Japanese yen has started to show a slight recovery against the U.S. dollar. This movement is reflected in USD/JPY, which is down nearly -0.3% during the session.
Gold is showing early signs of a bullish reversal after defending key Fibonacci support, but confirmation requires a move above important resistance levels.
Fed holds rates but three dissents, a weaker dollar and volatile gold, silver and stocks keep September hike risk in control.
Silver holds firm as Dollar slides after split Fed decision
The June rate decision prodded a rally in the Dollar and in response, markets were highly expecting the possibility of a rate hike at today's July rate decision from the FOMC. As Kevin Warsh has said numerous times, inflation is, and has remained well above the Fed's 2% target.
Pound Sterling Price News and Forecast: GBP/USD collects a refund on the Fed hike that never came
Gold surges after Fed holds as hawkish dissent fuels volatility
EUR/GBP has been on the rise since mid-July and barring a surprise move by the BoE on July 30, there is little else to hold it back.
Silver markets have also gained ground as traders prepared for Fed decision.
Silver price prediction hinges on Warsh's Fed tone, with a hawkish message threatening a break toward lower support.
