MrTrongVo

XAU trading strategy November 2, 2023

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OANDA:XAUUSD   Ouro/Dólar Americano
Last night's FOMC meeting of the Fed ended as expected, the Fed decided to keep the basic interest rate unchanged at the current level from 5.25% to 5.50%. Regarding current goals, the US Central Bank still leaves open the possibility of tightening monetary policy in the future to curb inflation.

Although he maintained his hawkish stance, Powell did not raise interest rates again as he has done in the past. During the press conference, Powell offered some views in favor of raising interest rates, but the aggressiveness has gradually decreased, signaling that a cycle of interest rate increases may be over.

Policymakers appear to be more cautious as the impact of past actions is perhaps not yet fully clear and the US dollar may also peak soon. However, to confirm this, upcoming data will have to show that the economic outlook is starting to deteriorate due to the tightening of monetary policy.

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