Neither Russian nor other depositors in Cyprus must receive Cyprus announcement to tax bank accounts as a surprise as these warnings emerged back in December from Germany --at a time when the media was busy with the US Fiscal Cliff and Greece's successful bond swap operation.
Gold vs USD breaks its first 5-month string of losses (longest since 1997) and may be targeting 1625-28 before month-end. Yet, the faster-momentum pattern is in Gold vs. EUR; breaking an 18-week downward trendline and highlights similar upside as in May 2012 (Greek election impasse) and Nov-Dec 2011 (Italy debt selloff and political uncertainty). As the ascending weekly stochastics gain in strength, we could well see a break above the 100-WMA of 1250 and an extension towards 1,285. In order for EURUSD not to lose support below 1.2820-30, we will have to see a follow-up in Gold/USD towards 1645/50.
I broke down the video below intoTime Stampsfor easier subject selection.
The widely anticipated Fed decision to hold rates unchanged means that December 2025 was the final rate cut under the Fed chairmanship of Jerome Powell. He has two FOMC meetings left to chair (March and May with no meeting shcheduled for April). Most notable about yesterday is that the FOMC statement was less dovish than Powell's press conference. The evidence lies in the 10-15 mins charts, showing EURUSD and gold dropping a bit after the FOMC statement, which noted improvements in growth and employment. Once Powell struck a dovish tone in his press conference, gold stabilized, and took off rapidly after Powell wrapped it up. تم تقسيم الفيديو الى أجزاء زمنية
The other point helping metals was the lack of any substantial comments from US Treasury Secretary Bessent about supporting the US dollar. The fact that there was no explicit remarks favouring the USD strenbth, extended the status quo. Saying the US did not interevene in capping USDJPY was not enough.
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