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Bullish Gold Outlook Remains Following FOMC
We failed to see any significant moves on the back of the FOMC yesterday. The Fed cut rates as expected and signaled more to come, though rate cut projections were slightly lower than the market was pricing in. Along with some warnings over inflation from Powell, USD was seen a little firmer on the back of the meeting causing some downside in gold. However, once the dust settles, the consensus view is for USD to move lower as the impact of fresh Fed easing takes hold. Additionally, any incoming data weakness should bolster easing expectations putting greater pressure on USD, allowing room for gold to move higher ... (full story)
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