Gold prices held steady on Wednesday as traders turned to a busy economic calendar of events ahead in the form of Inflation Data, Minutes from the Federal Reserve’s latest Monetary Policy Meeting and the first wave of U.S Corporate Earnings.

The concerns hanging over markets in recent weeks have hinged on inflation, the future of central bank stimulus, and how supply-chain pressures will impact company profits. Wednesday will see updates on all three.

There will be a huge focus on U.S Consumer Price data, especially as the recent uptick in inflation could cause the U.S Federal Reserve to raise rates sooner than expected.

Elsewhere, while minutes from the Federal Reserve’s September meeting are likely to signal an imminent scaling back of asset purchases – the recent string of jobs data misses may complicate the timing of when tapering could actually start.

All of this, ultimately suggests that the Fed now faces its biggest dilemma ever.

Wednesday’s U.S Consumer Price Inflation data, will either make the Fed's decision on rates much easier or much more difficult, which opens the door to new and exciting opportunities ahead.

Where are prices heading next? Watch The Commodity Report now, for my latest price forecasts and predictions:

Trading has large potential rewards, but also large potential risk and may not be suitable for all investors. The value of your investments and income may go down as well as up. You should not speculate with capital that you cannot afford to lose. Ensure you fully understand the risks and seek independent advice if necessary.

Feed news

Latest Forex Analysis


Latest Forex Analysis

Editors’ Picks

EUR/USD gains traction and climbs above 1.1600 after US data

After dropping below 1.1600 earlier in the day, EUR/USD managed to stage a recovery in the early American session toward 1.1620 with the latest data releases from the US making it difficult for the greenback to find demand. US trade deficit expanded in September and durable goods orders contracted. 

EUR/USD News

GBP/USD stays in the negative territory around mid-1.3700s

GBP/USD recovered modestly from the weekly low it set at 1.3710 earlier in the day but continues to trade in the negative territory around 1.3750. The dollar is staying on the back foot after the latest data releases but the cautious mood is limiting the pair's upside.

GBP/USD News

XAU/USD inches closer to $1,800 amid sliding bond yields/weaker USD

Gold attracted some dip-buying for the second successive day on Wednesday. Retreating US bond yields, weaker USD acted as a tailwind for the commodity. Hawkish central bank expectations might continue to cap gains for the metal.

Gold News

Shiba Inu price to provide buy opportunity before SHIB doubles again

Shiba Inu price is due for a retracement after rallying 113% in less than three days. The MRI displays a major sell signal, hinting at a correction that could extend 17%.

Read more

Wake Up Wall Street: Microsoft, McDonald's lead futures higher

McDonald's (MCD) quarterly earnings came in before the market opens on Wednesday and delighted on both top and bottom lines. Microsoft reported easy beats on revenue and EPS as well.

Read more

Majors

Cryptocurrencies

Signatures