"The largest air str...from Boostdemon26

18 Nov 2024, 11:09 · Views 136

"The largest air strike" + Ukrainian missiles may attack the Russian hinterland! Gold prices surge over $30 Reaching a new high of US$2,597.06 per ounce in the past three trading days, an increase of more than US$30 from last Friday's closing price.

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The U.S. dollar index opened lower and moved lower. It is currently trading at 106.93, down about 0.5%. It gave up all the losses last Friday because President-elect Trump nominated the well-known investor Besson With Scott Bessent, a Wall Street veteran and fiscal conservative。

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On November 27 (Wednesday), the New Zealand Federal Reserve will hold an interest rate decision. The market expects the Reserve Bank of New Zealand to cut interest rates by 50 basis points for the second consecutive time, making it one of the most active interest rate cuts among Western central banks. Of the 23 economists surveyed, 22 predicted the Reserve Bank of New Zealand would cut interest rates by 50 basis points on Wednesday, to 4.25%. One economist expects a 75 basis point rate cut. RBNZ will cut interest rates by 50 basis points in its November Monetary Policy Statement (MPS), taking interest rates to 4.25%. This move will bring the official cash rate closer to a neutral level of 3% to 4%, which is the balance needed to stabilize inflation and support the economy. Tuffley added that a 50 basis point rate cut would best balance the various risks. Given that the current economic environment is consistent with the RBNZ's previous forecasts, a larger rate cut of 75 basis points may be too aggressive. He also said: "With the process of normalizing monetary policy basically completed, we expect that after 2025, changes in the official cash rate will face a higher threshold." He also added that the New Zealand Reserve Bank may adopt a gradual approach to implement future interest rate cuts. New Zealand's economy has stalled and inflation has slowed faster than policymakers expected, prompting them to return benchmark interest rates to more neutral levels that no longer constrain economic growth. Investors are betting that the Reserve Bank of New Zealand will cut the cash rate to 3.25% in the second half of next year, but the pace of easing remains uncertain due to lingering concerns about global inflation after Trump won the U.S. election. Wednesday's decision is the RBNZ's last in 2024, with a 12-week gap until the next meeting in mid-February. A 50 basis point rate cut was clearly the path of least resistance. Given the RBNZ's confidence in the inflation ou

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Markets expect the Fed to continue cutting interest rates, moving toward a stance that neither restricts nor promotes economic activity. Barring some compelling evidence of overheating, I think the fed funds rate is justified in continuing to fall. How quickly this will happen will depend on the outlook and circumstances. But it has been very clear to me throughout this process that we are on a path that will lead to rate cuts closer to what you might call neutral. Individual forecasts for the neutral interest rate are close to the official median forecast, which was 2.9% in September. On Tuesday, the Federal Reserve will release the minutes of the November 6-7 meeting of the Federal Open Market Committee (FOMC), which sets interest rates. At the meeting, policymakers cut the central bank's benchmark interest rate by 0.25 percentage points, following a 0.5 percentage point cut in September. Several officials urged caution about future rate cuts, given the continued resilience of the U.S. economy and recent firm inflation data. Federal Reserve Chairman Jerome Powell said earlier this month that the economy was not signaling that officials needed to rush to cut interest rates. Policymakers will have more data to digest before the December meeting, including the Fed's favored inflation gauge and jobs report. It's important not to "draw any conclusions" from one month's worth of data. I think the overall picture in recent months is that inflation has often been below expectations but not far above the 2% target. ” He was referring to the Fed’s price growth target.

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Oil little changed as market weighs mixed drivers Oil prices steady for Wednesday as concerns about escalating hostilities in the Ukraine war potentially disrupting oil supply from Russia and signs growing Chinese crude imports offset data showing U.S. crude stocks rising.

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On Tuesday, spot gold prices edged down 0.2% to close at $2,640 an ounce. Strong U.S. labor market data reinforced the view that the U.S. economy is solid while driving a stronger dollar, putting pressure on dollar-denominated gold. According to data from the U.S. Bureau of Labor Statistics (BLS), the number of JOLTS job openings in the United States increased to 7.744 million in October, which was higher than the market consensus of 7.48 million and higher than the downwardly revised 7.372 million in September. The data prompted gold to give back some of its earlier gains on comments from Federal Reserve officials. In addition, the Chicago Mercantile Exchange's FedWatch tool shows that the market's probability of a 25 basis point interest rate cut in December has increased to 72.5% from the previous mid-60%. While a stronger U.S. dollar and interest rate outlook weighed on gold prices, geopolitical risks provided support for gold. The ongoing conflicts in the Middle East, the outbreak of the Syrian civil war, the escalation of the conflict between Russia and Ukraine, and political risks in France have kept the demand for gold as a safe-haven asset high. From a technical perspective, gold prices are still fluctuating near the main trend lines, showing a range-bound trend. Currently, gold may be forming a three-wave "Measured Move" pattern. If this pattern holds true, the next wave could be a downward “C wave” with a target near $2,550. If the price of gold falls below US$2,605 (low on November 26), the subsequent downward trend will be confirmed, with a target price of US$2,550 near the end of the "C wave". In addition, the MACD indicator recently fell below the red signal line and is in the negative zone, sending a bearish signal and supporting the view that gold prices will decline in the short term.

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