FOMC

2022 - 11 - 2

Post cover — Image courtesy of "FXStreet"

It's a FOMC day (FXStreet)

The markets are bracing for another aggressive rate hike from the Fed/Cabal/Cartel today, and I'm certain they will not fail to deliver. The only currency that ...

session, and all the gains that were made in the currencies, and metals, were watered down by the close in the U.S. “Why can’t pirates recite the alphabet?” “Because they get lost at C (sea)” The jokes were pretty lame this year, and some of the trick-or-treaters were also lame because they came unprepared to tell a joke! Why Powell is unlikely to cement a pivot](https://www.fxstreet.com/analysis/federal-reserve-preview-dollar-buying-opportunity-why-powell-is-unlikely-to-cement-a-pivot-202210310808) Premium Gold has managed to extend its daily advance toward $1,660 in the second half of the day on Wednesday. The Phillies are on a roll, and get to play the next two games at home, meaning if they sweep, they would win the Series and not have to return to Houston. The ambush of the dollar in the previous overnight session, had no follow through in the U.S. The only currency that looks to have benefitted from the sell off in the BBDXY overnight is the Japanese yen… [Oil](https://www.fxstreet.com/markets/commodities/energy/oil) remained with an $88 handle throughout trading yesterday, as the verdicts began to com in from our friends (NOT!) at OPEC on their announced Oil production cuts… This rate hike, albeit, just 25 Basis Points, was the reason for the outperformance the night before in [the Aussie dollar](https://www.fxstreet.com/currencies/audusd) (A$) and kiwi. That was the 3rd consecutive, or in a row, rate hike by the ECB, and brought their internal rate to 2.0%... Silver started the day up 70-cents, but ended the day up 45-cents, to close at $19.70… Looks like inflation is winning, and will continue to win for some time, just like here in the U.S.

Fed Meeting Today Live: Stocks Climb After Fed Hikes Interest ... (The Wall Street Journal)

The Fed's decision to lift interest rates by 0.75 percentage point and its accompanying statement “left the door open for less dramatic Fed action in future ...

Gold hits daily highs as FOMC leans less hawkish (Kitco NEWS)

Prices are in a two-month-old uptrend on the daily bar chart. Silver bulls' next upside price objective is closing prices above solid technical resistance at ...

First support is seen at this week's low of 336.15 and then at the October low of 330.30 cents. First resistance is seen at today's high of 350.85 cents and then at the October high of 359.30 cents. The next downside price objective for the bears is closing prices below solid technical support at the September low of 324.30 cents. First support is seen at today's low of $1,648.60 and then at this week's low of $1,633.60. Next support is seen at today's low of $19.545 and then at $19.25. Copper bulls' next upside price objective is pushing and closing prices above solid technical resistance at the September high of 369.25 cents. First resistance is seen at this week's high of $20.04 and then at $20.50. The next downside price objective for the bears is closing prices below solid support at $18.00. Silver bulls' next upside price objective is closing prices above solid technical resistance at the October high of $21.31. First resistance is seen at last week's high of $1,679.40 and then at $1,700.00. The FOMC statement said the Fed will take into consideration the health of the U.S. The U.S.

Gold Price Forecast: XAU/USD whipsawed on conflicting FOMC ... (FXStreet)

Gold has dropped back to the start again on the back of hawkish comments from the Federal Reserve's Chairman, Jerome Powell, that sent the 2-year Trea.

The BoE is widely known for its brutal honesty and conservative approach, which raises a big question of whether a 75 bps rate really is on the table this ‘Super Thursday’. The author makes no representations as to the accuracy, completeness, or suitability of this information. The metal’s latest rebound also pays little heed to inactive Treasury bond yields due to the holiday in Japan. This decision triggered a spike in volatility, but Ripple has managed to hold above a stable support barrier. Gold price pares the biggest daily loss in a week around $1,638 during early Friday morning in Europe. The author will not be held responsible for information that is found at the end of links posted on this page. USD/JPY bears keep the reins for the third consecutive day even as Tokyo cheers the Culture Day holiday. The author has not received compensation for writing this article, other than from FXStreet. AUD/USD is keeping its recovery mode intact above 0.6350, despite the deepening contraction in China's services sector. Markets had started to price in a slower pace of rate hikes based on the following from today's FOMS statement: It also does not guarantee that this information is of a timely nature. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements.

Gold rises ahead of FOMC announcement (The Star Online)

CHICAGO, Nov. 2 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange rose on Wednesday as investors waited for the release of ...

Platinum for January delivery rose 0.4 dollars, or 0.04 percent, to close at 950.9 dollars per ounce. This is the sixth rate hike by the Federal Reserve in 2022 and the fourth straight 0.75 percentage-point hike. Silver for December delivery fell 7.3 cents, or 0.37 percent, to close at 19.594 dollars per ounce. dollars, or 0.02 percent, to close at 1,650 dollars per ounce. The most active gold contract for December delivery rose 0.3 U.S.

Gold Price Forecast: US Jobs Report in Focus as Traders Digest ... (DailyFX)

Gold prices are moderating in Asia-Pacific hours as markets weigh the FOMC decision. The US jobs report on Friday may offer gold its next directional cue.

A positive divergence in the Relative Strength Index (RSI) lends support to a bullish outlook. The measured move (distance between troughs and peak) puts the breakout target at 1,840.75. Gold speculator trimmed their bullish bets on the metal, according to the latest Commitments of Traders report (COT) from the CFTC. A potential Double Bottom reversal is in play, which may mark the reversal point of a long-term downtrend. Gold is trading around 0.3% higher in Asia-Pacific trading, which trims the weekly loss to about 0.25%. According to the Job Openings and Labor Turnover Survey (JOLTS) for September, job openings accelerated to 10.72 million, beating the +10 million estimate and up from an upwardly revised 10.28 million in August. That would be the weakest growth since December 2020, likely cooling Fed rate hike bets and dragging the USD and yields lower, a positive outcome for gold. The downside risk would be a stronger-than-expected number. According to a Bloomberg survey, analysts expect the US to add 200k jobs for October. Assuming the US Dollar and rates across much of the curve remain off their highs, bullion prices should hold above recent lows around 1,615 to 1,617. The US Dollar DXY Index and mid- to long-term Treasury rates remain below their recent highs despite a modest increase in Fed rate hike bets. The US central bank hiked its benchmark rate by 75 basis points in a widely expected move.