• Welcome to forex.pm forex forum binary options trade. Please login or sign up.
 

Oil prices fall, gold awaits Fed decision

Started by PocketOption, Mar 27, 2023, 10:53 am

Previous topic - Next topic

0 Members and 1 Guest are viewing this topic.

PocketOption

Oil prices fall, gold awaits Fed decision

FacebookTwitterEmail

Stalled recovery


Oil prices are slipping again today after recovering strongly from the lows over the last couple of days. There’s still a lot of lost ground to make up which may highlight the apprehension behind the recovery as well as the potential longer-term consequences for the economy.


Time will tell how significant an impact that will have but the fact that we’re already seeing profit-taking isn’t a great signal. That said, we’re also seeing the recovery in stock markets stalling ahead of the Fed decision so perhaps this is having a similar impact on crude as we await their assessment of the situation.


Pause ahead of the Fed


We’re also seeing a pause in the gold correction ahead of the Fed later in the day. It’s gone from a rare foray above $2,000 to pulling back almost 4% while remaining well above its pre-banking crisis lows. A hawkish Fed could see it extend the decline, with $1,900 being the next big test below, followed by $1,860.


For a look at all of today's economic events, check out our economic calendar: www.marketpulse.com/economic-events/


Source: Oil prices fall, gold awaits Fed decision