Minutes of the July FOMC meeting have been released. The document indicates that most Federal Reserve officials still believe high inflation is an ongoing threat and deserves additional rate hikes. However, there is no general consensus on the way forward in what could best be described as mixed messages among Federal Reserve members.
One of the main issues was that members were divided on the question of further rate hikes. While most Fed officials are in favor of raising the end-of-term rate (the Fed funds rate), some members believe that further increases could cause rates to rise too high.
One of the main issues was that members were divided on the question of further rate hikes. While most Fed officials are in favor of raising the end-of-term rate (the Fed funds rate), some members believe that further increases could cause rates to rise too high.
Comment:
- Unemployment claims in America recorded 264 thousand new applications, compared to expectations of recording 260 thousand applications.
Comment:
- Goldman Sachs is planning a hiring joy to fix fading amid Fed sternness.
Comment:
If there is no strong bounce above $1,905 this week, confidence that a downtrend in gold has been established will increase. In this case, the $1,800 - $1,810 range is a potential technical target. This has been a difficult range for gold to cross over the past 3 years.
Comment:
🕯 SELL GOLD | 1900 - 1897
🔴 SL: 1905
🟢 TP1: 1892
🟢 TP2: 1887
🔴 SL: 1905
🟢 TP1: 1892
🟢 TP2: 1887
Trade closed: target reached:
Close Full Hit TP2 + 110pips 😮
Comment:
- Traders reduce short positions to the lowest level since June 2022 for the S&P 500 index.
