BREAKING: Gold is down -2% in the last 2 hours, falling below $3,950 and hitting a 34-week low.
Gold is now down -30% from its peak, wiping out over $12 trillion in market value.
Share News: US markets are closed this week for Independence Day. Expect lower volume and thinner liquidity, especially during the NY session.Stay cautious into the weekend — risk management matters more in quiet markets.
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While the macro environment suggests underlying downside risk, gold seems destined for a protracted period of consolidation as $4,000 continues to act as a “magnetic” level.
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the most consequential macro event of the week, featuring a rare convergence of the world's top central bankers in Sintra. The market focus will predominantly be on Fed Chair Kevin Warsh.
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Gm
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Markets now expect a couple of Fed rate hikes this year, with futures implying a solid chance of another move as early as September. That has strengthened the dollar while weighing on precious metals.
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This week.
Any explicit divergence between the Fed’s "higher for longer" rhetoric and the more accommodative or cautious tones from the ECB, BOE, and BOC will prompt significant capital reallocation, driving cross-border yield spreads and FX volatility.
Share message:
This week.
Any explicit divergence between the Fed’s "higher for longer" rhetoric and the more accommodative or cautious tones from the ECB, BOE, and BOC will prompt significant capital reallocation, driving cross-border yield spreads and FX volatility.
Share the news:
the most consequential macro event of the week, featuring a rare convergence of the world's top central bankers in Sintra. The market focus will predominantly be on Fed Chair Kevin Warsh.
#UltimaMarkets#forex#forextrading#trading#forexnews