Exclusive to Kitco News, technical analyst Gary Wagner provides a daily recap of what happened in the gold market, highlighting important events that captured investors' attention during the U.S. trading session. Wagner's commentary features a mix of fundamental news and technical analysis, noting important support and resistance levels.
The Federal Reserve will conclude the September FOMC on Wednesday. The meeting will be capped with a new policy statement and interest rate decision which will be released at 2 PM EDT and a press conference by Chairman Powell to be held at 2:30 PM EDT. The Fed is not expected to raise interest rates according to the CME's FedWatch tool, there is a 99% probability that the Fed will not raise their benchmark rate tomorrow.
According to a publication by the Federal Reserve Bank of San Francisco,"The Summary of Economic Projections offers important insights into the views of Federal Open Market Committee participants. The summary's"dot plot" charts each participant's assessment of the appropriate path for monetary policy given their economic outlook."
In June the Federal Reserve announced a pause in interest rate hikes. However, the quarterly economic projections that accompanied that decision revealed that 12 out of the 18 voting members anticipated two more ¼% rate increases by the end of this year.
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Stock market today: World shares lower, Tokyo closed, as focus turns to U.S. Federal Reserve meetingShares fell Monday in Europe and Asia, as investors awaited a meeting this week of the U.S. Federal Reserve.
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Stock market today: Asian shares weaker ahead of Federal Reserve interest rate decisionTOKYO (AP) — Asian shares were mostly lower in cautious trading Tuesday ahead of the Federal Reserve’s upcoming decision on interest rates. Japan's benchmark Nikkei 225 dropped 1.1% to 33,160.03. Australia's S&P/ASX 200 lost 0.5% to 7,196.70. South Korea's Kospi edged down 0.7% to 2,556.42. Hong Kong's Hang Seng slipped 0.2% to 17,893.99, while the Shanghai Composite fell 0.1% to 3,122.21. The Fed is due to wrap up a two-day meeting on Wednesday. Japan's central bank will meet Thursday-Friday as
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Stock market today: Global shares mixed ahead of U.S. Federal Reserve interest rate decisionGlobal shares were mixed in cautious trading Tuesday ahead of the U.S. Federal Reserve's upcoming decision on interest rates.
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Federal Reserve is poised to leave rates unchanged as it tracks progress toward a 'soft landing'WASHINGTON (AP) — Since Federal Reserve officials last met in July, the economy has moved in the direction they hoped to see: Inflation continues to ease, if more slowly than most Americans would like, while growth remains solid and the job market cools. When they meet again this week, the policymakers are likely to decide they can afford to wait and see if the progress continues. As a result, they’re almost sure to leave their key interest rate unchanged when their meeting ends Wednesday. The c
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Federal Reserve is poised to leave rates unchanged as it tracks progress toward a 'soft landing'WASHINGTON (AP) — Since Federal Reserve officials last met in July , the economy has moved in the direction they hoped to see: Inflation continues to ease , if more slowly than most Americans would like, while growth remains solid and the job market
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TSX declines, U.S. stock markets flat as U.S. Federal Reserve rate decision loomsTORONTO — Losses in technology and base metal stocks helped lead a broad-based decline as Canada's main stock index fell almost 130 points, while U.S. stock markets lost steam midway through the trading day to essentially end flat.
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