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Beijing time week Early morning of April 1st: The Federal Reserve (D) will announce its interest rate decision for the month and issue a policy statement. It should be noted that Federal Reserve Chairman Yellen ( ) will not arrange a press conference after this meeting, and the latest economic forecasts from policymakers will not be released.
As Fed officials have frequently threatened to raise interest rates recently, and recent economic data are generally strong, investors will focus on whether the Fed will give any hints about raising interest rates. Although the meeting is widely expected to keep interest rates unchanged, the focus will still be on the content of the policy statement released after the meeting. Analysts believe that if the statement mentions a stronger signal for a monthly interest rate hike, it will be a hawkish statement, which may cause the dollar to rise and gold prices to fall. On the other hand, if no clear hint is given, it will be a dovish statement, and gold prices may rise further.
It is worth noting that when Fed officials met in March 2019, they inserted language into the statement indicating that the next meeting may be the appropriate time to raise interest rates, and then raised interest rates by 1 basis point in March. However, the Fed is unlikely to release a similar signal this time. In addition, interest rate hike expectations last year were also well below current levels, indicating that there is currently no need to send out a new strong signal. Any signals from the Fed are expected to be more subtle. In March, officials said the case for raising interest rates was strengthening, but they wanted to stay on the sidelines for the time being to look for further evidence of economic strengthening. Any changes in its thinking may be reflected in these details.
Data released by the United States on Tuesday showed that the Institute of Supply Management released data showing that the monthly manufacturing purchasing managers index was . At the same time, the U.S. manufacturing purchasing managers' index rose to its highest level since January.
Views on the market situation
Teacher Liu Hongdong believes that despite the good economic data released overnight, the news that the FBI (B) has restarted the investigation into Hillary’s email scandal has helped market volatility reflect the level of investor fear. The index rose to a seven-week high, triggering widespread risk aversion. The U.S. dollar index plunged more than .% against a basket of currencies on Tuesday, U.S. Treasury yields fell, the S&P index fell below the 10-point mark for the first time since March, down .%, and the Dow Jones index fell below the 10-digit psychological mark. However, spot gold once surged by more than % that day and hit a nearly one-month high of USD/oz. Current price. USD, rising momentum is strong
From a technical point of view, at the daily level, the overnight gold price broke through the short-term range resistance of the U.S. dollar, then expanded its gains and tested the U.S. dollar, closing at the daily moving average of U.S. dollars for the third consecutive trading day. above. On the indicator, the D red kinetic energy column expands, the double-line golden cross moves upward, and the D indicator rises again, but the medium-term risk is still neutral. From the H level, short-term risks have turned upward, and the market outlook may look towards the resistance of the daily moving average of the US dollar and the US dollar mark.
Recommendations for spot gold
Gold prices rose further in Asia on Wednesday. The resistance above gold is , and the initial support below is . Operationally,
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