Market Update – 24th March 2
March 30,2021 01:54:27This week all eyes were on the Federal Reserve economic projections and interest rate decision. The FED indicated they would maintain low interest rates until at least 2023. The fresh forecasts showed the FOMC expects GDP to contract by 3.7% which was softer than the 6.5% forecast, and unemployment to reach 7.6% at years end compared to the 9.3% forecast made previously. The upgrade in economic projections provided a surge in the USD throughout early Thursdays trading session.
Gold dropped over 400 points from the top of the pennant formation after teasing a potential breakout to the upside. Gold price action is becoming compressed between a pennant formation. The recent recovery in the US economic data has dampened the bull run in precious metals. Traders will be waiting for a breakout of the pennant formation for an indication on the next big move.
Jamie DuttaAnalyst / Trader
"With extensive experience as a full time trader and financial market commentator, I have worked as a trader in top tier investment banks and trading houses, including Morgan Stanley and GAIN Capital trading Forex, Index derivatives. and Bonds. I combine technical analysis with a deep fundamental knowledge to identify trade set-ups. My real life experience allows me to break down the complexities of financial jargon and trading. This means everyone can better understand the compelling forces of greed and fear which are realised every day in countless ways across markets."
Vantage does not represent or warrant that the material provided here is accurate, current, or complete, and therefore should not be relied upon as such. The information provided here, whether from a third party or not, is not to be considered as a recommendation; or an offer to buy or sell; or the solicitation of an offer to buy or sell any financial instruments; or to participate in any specific trading strategy. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. We advise any readers of this content to seek their own advice. Without the approval of Vantage, reproduction or redistribution of this information is not permitted.
Pembukaan akun cepat & mudah
-
Daftar
Pilih tipe akun dan kirimkan aplikasi Anda
-
Danai
Danai akun Anda menggunakan metode pendanaan yang bervariasi
-
Trade
Akses 400+ instrumen CFD di semua kelas aset melalui MT4/MT5
Hanya itu. Sangat mudah untuk membuka akun trading Forex dan CFD.
Selamat datang ke dunia trading!
BUKA AKUN LIVE
Vantage is a global, multi-asset broker offering clients access to a nimble and powerful service for trading CFDs on Forex, Commodities, Indices, Shares.
With more than 10 years of market experience and headquartered in Sydney, Vantage now has over 1,000 staff across more than 30 global offices.
Vantage is more than a broker. It provides a trusted trading ecosystem that enables clients to achieve their own success, in a faster and simpler manner.
Be empowered to better capitalise on winning market opportunities when you trade smarter @vantage.
