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FxstreetJul 31, 2024
US Dollar reclaims ground after Fed decision
EUR/USD jitters after Fed rate hold, FOMC press conference in view
GBP/USD muted after Fed’s hold rates, pushes back against easing
XAU/USD Price Forecast: Gold price holds its ground after Fed decision
FxstreetJul 31, 2024
United States Fed Interest Rate Decision meets expectations (5.5%)
Australian Dollar remains subdued amid mixed economic data
Forex
GBP/USD muted after Fed’s hold rates, pushes back against easing
The GBP/USD whipsawed during the North American session after the Federal Reserve (Fed) decided to keep rates unchanged yet pushed back against easing policy, noting, “The Committee does not expect it will be appropriate to reduce the target range until it has gained greater confidence that inflation is moving sustainably toward 2 percent.” The major trades are volatile, around 1.2800-1.2850, and register modest losses.Fxstreet
Jul 31, 2024
Commodities
Gold price climbs on geopolitical tensions ahead of Fed’s policy decision
Gold price edged higher during the North American session as traders estimate the Federal Reserve (Fed) will hold rates steady, but it would lay the ground for lower rates that were originally set higher due to an inflationary jump after the Covid-19 reopening.Fxstreet
Jul 31, 2024
Forex
Canadian Dollar finds gains on GDP forecast beat
The Canadian Dollar (CAD) found a brief reprieve on Wednesday from steady selling pressure against the Greenback after Canadian Gross Domestic Product (GDP) beat forecasts, but gains remain limited as the figure still eased from the previous print.
Fxstreet
Jul 31, 2024
Forex
GBP/USD Price Analysis: Holds firm around 1.2840 ahead of Fed’s decision
The Pound Sterling registers minuscule gains during the North American session as traders brace for the US Federal Reserve’s decision, which is expected to hold rates unchanged but to prepare the ground to ease policy.Fxstreet
Jul 31, 2024
