Gold (XAU)
Key news events today
FOMC Member Harker Speaks (1:00 pm GMT)
What can we expect from Gold today?
Federal Reserve Bank of Philadelphia President Patrick Harker is due to speak about the economic outlook at the Risk Management Association in Philadelphia where audience questions are expected. Should he follow in the footsteps of Chairman Jerome Powell’s speech yesterday, the US dollar could once again come under pressure and thus drive gold prices higher during the US session.
Next 24 Hours Bias
Medium Bullish
Oil
Key news events today
No major news events.
What can we expect from Oil today?
Crude oil prices rose for the third day in a row as markets anticipate another likely hold on interest rate hikes by the Federal Reserve – higher rates could stifle global economic activity which would potentially temper the demand for crude. In addition, the Middle East conflict appears to be worsening which is keeping prices elevated with WTI oil climbing above the $88.00 per barrel overnight and looks all set to notch its second consecutive week of gains.
Next 24 Hours Bias
Medium Bullish