Gold Price Forecast: XAU/USD bears move in to test key support Gold DollarIndex Commodities Fed
Federal Reserve sentiment is the driving force with eyes on key support. is down some 0.5% on the day, sliding below the $2,000 mark as the US Dollar perks up again. US Treasury yields are moving higher towards a one-month peak, with markets now pricing in an 85% chance of a 25-basis-points rate hike at the Federal Reserve's May 2-3 meeting.
Hawkish tones have crept their way back in this week following, initially, Friday´s comments from Federal Reserve Governor Christopher Waller said that despite a year of aggressive rate increases, the Fed "hasn't made much progress" in returning inflation to their 2% target and argued that still need to go up. Today, we have heard from St.
Meanwhile, the Federal Reserve blackout period ´´starts on April 22 before the central bank's May 2-3 meeting. Analysts at Brown Brothers Harriman have explained that WIRP suggests 90% odds of 25 bp hike May 3, up from 70% at the start of last week and 50% at the start of the week before that. After that, odds of a hike June 14 sit near 20%. More importantly, a rate cut by year-end is no longer priced in.
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