The Federal Reserve left interest rates unchanged last night, in line with market expectations, but announced that it would slow its pace of bond sales. Starting on June 1, the Fed will reduce the amount of US Treasuries it allows to roll of its balance sheet from $60 billion a month to $25billion, while $35 billion of mortgage-backed securities will continue to mature.
In the equity space, Apple and Coinbase are among a clutch of US companies announcing their latest earnings today.tumbling from a high of 158.00 to around 153.00. The effect of the buying, heavily rumored to be the Bank Of Japan, however, dissipated fairly quickly as USD/JPY moved back into the mid-155s.picked up a bid on the back of a weaker dollar and lower US Treasury yields. The precious metal slipped to support around the $2,280/oz.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests Gold prices may continue to fall.Are you risk-on or risk-off ?? You can let us know via the form at the end of this piece or contact the author via TwitterLeveraged trading in foreign currency or off-exchange products on margin carries significant risk and may not be suitable for all investors.
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