Eliman Dambell
Tradeview Markets
Gold prices higher ahead of FOMC meeting
Gold prices were trading higher on Tuesday, as markets began to prepare for tomorrow’s FOMC meeting.
Wednesday’s Federal Reserve policy meeting will be the first of the year, with some expecting a surprise rate hike from the Fed.
After December’s meeting, it has been widely expected that a rate hike will come by the end of Q1, however as consumer prices continue to surge, some expect action to come sooner.
This comes just as the IMF cut its global growth forecast for 2022 to 4.4%, from 5.9% in 2021.
As of writing, XAUUSD rose to an intraday high of $1,852, its highest level since November.
Microsoft shares fall ahead of Q4 earnings
Shares in Microsoft were trading lower during today’s session, as traders began to anticipate the company’s earnings call.
Microsoft is set to hold its Q4 earnings call after today’s closing bell, and comes after the company’s record acquisition of Activision.
According to analysts, the company is expected to report earnings of $2.31 per share, with revenue for the quarter coming in at $50.88 billion.
This would see earnings higher than they were at the end of 2020, where they came in at $2.03 per share on $43.08 billion in revenue.
$MSFT was trading 0.61% lower as of writing, with the NASDAQ down 0.72%.
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