FxPro Financial Services Ltd | Sep 22, 2021 05:21AM ET
Markets are quiet in anticipation of the Fed's comments later today. The most popular currencies and equity indices have stabilised near important levels near the limits of their trading ranges, from where they are equally likely to step back into established trends or break them.
The precious metals have been resisting the general consolidation trend in recent days. After last week's tumultuous dip, cautious buying remains in place. Gold is again near $1780, staying away from significant technical levels to highlight and reinforce the bullish sentiment. Silver is hitting the downside to the former lower band trading channel of the last year, and it cannot move back above $23 just yet. Fed softer comments will spur demand for metals, as overall demand risk.
However, if the Fed emphasises that the current stimulus has outlived its usefulness and is introducing adverse secondary effects, a deeper correction and reassessment of risks could begin in the markets.
The FxPro Analyst Team
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