The legend in the InstaSpot team!
Legend! You think that's bombastic rhetoric? But how should we call a man, who became the first Asian to win the junior world chess championship at 18 and who became the first Indian Grandmaster at 19? That was the start of a hard path to the World Champion title for Viswanathan Anand, the man who became a part of history of chess forever. Now one more legend in the InstaSpot team!
Borussia is one of the most titled football clubs in Germany, which has repeatedly proved to fans: the spirit of competition and leadership will certainly lead to success. Trade in the same way that sports professionals play the game: confidently and actively. Keep a "pass" from Borussia FC and be in the lead with InstaSpot!
As markets worry about the future of monetary policy, activity declined noticeably. Investors will likely listen to the speech of Fed Chairman Jerome Powell at the upcoming economic symposium in Jackson Hole to understand once again the course of the Fed's policy until the end of the year.
First and foremost, market players want to hear clear and unequivocal words about whether the Fed will stop at another previously announced interest rate hike of 0.25% or not, considering the overall picture in both the global and US economy. It can be said that the decade of low inflation and not high-interest rates already ended, so Powell's statement may answer whether the Fed views an inflation rate of 3% in this challenging economic situation as bad or not.
The result will directly affect the cost of money and demand for company stocks. After all, the yield of benchmark 10-year government bonds firmly holds above 4%.
In terms of dollar, movement stalled as the ICE index could not overcome 104 points. It currently stands at 103.13 points, showing a local reversal.
Gold also turned around, breaking through $1900.00 per troy ounce. It will continue to grow if Powell dispels at least some of the uncertainty about the future of monetary policy.
However, the Fed chief may just repeat his earlier words, citing the risks of high inflation, the stable labor market, and about how the US economy as a whole cope with challenges. If this happens, uncertainty will persist in markets until the release of fresh data on the labor market and consumer inflation. In that case, only the worsening of the unemployment situation and a resumption of inflation decline will push the Fed to finally end its rate hike cycle, which will hit dollar and become a huge incentive for growth of stocks and a downward reversal of Treasury yields.
Forecasts for today:
EUR/USD
The pair currently trades at 1.0915. Breaking through this level will open the way to 1.1000 and 1.1045.
GBP/USD
The pair trades at 1.2790, where a breakout will lead to a rise to 1.2865.
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।
