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📊 Gold reaches record high on Fed rate cuts anticipations Gold (XAU) reached a record high on Tuesday as expectations that the Federal Reserve (Fed) would begin its rate-cutting cycle in September increased. This pressured U.S. Treasury bond yields and the U.S. dollar (USD). 👉 Possible effects for traders Markets are anticipating a total of 100 basis points (bps) in rate cuts by the U.S. central bank over the three remaining policy meetings this year. Dovish outlook is driven by easing inflationary pressures and a weakening labour market. However, there's debate over whether the Fed will opt for a 25 or a 50-bps cut at its September meeting, especially after robust July retail sales data. Fed Governor Michelle Bowman sought to downplay expectations of an imminent rate cut, emphasising that despite recent progress, inflation remains elevated and continues to be above the central bank's 2% target. The People's Bank of China (PBOC) recently issued new gold import quotas to several Chinese banks, signalling a potential surge in demand and hinting at another gold buying spree from China. Additionally, holdings in the SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, climbed to a seven-month high of 859 tons, indicating growing financial investment interest. Meanwhile, ongoing geopolitical tensions in the Middle East and the possibility of a ceasefire between Israel and Hamas keep investors cautious, further supporting the safe-haven appeal of XAUUSD. XAUUSD rose during the Asian trading session. Today, traders should focus on two key events. The first is the Preliminary Benchmark Revision to Establishment Survey Data, due at around 2:00 p.m. UTC. The report includes revisions to nonfarm payroll numbers between April 2023 and March 2024. If the report reveals that significantly fewer jobs were created than initially reported in the monthly payroll data, it could amplify the Fed Chair's concerns in his upcoming remarks. The second event is the FOMC minutes at 6:00 p.m. UTC, which could provide insights into the Fed monetary policy direction. The dovish tone could continue to push gold higher, while hawkish remarks may break the XAUUSD bullish trend. Sign Up Now ➡️https://bit.ly/attocta

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Here is the market wrap for today!💚❤️ React with how your day went: 👍👎🔥😭😂👏

📢 The U.S. election is on the horizon, and South & Southeast Asian markets are watching closely. A Trump victory could revive his ‘America First’ policies, leading to renegotiated trade deals, higher tariffs on Asian goods, and a push for U.S. domestic production. 🌏 This could challenge exporters like Indonesia and Malaysia, though India might benefit from a boost in its stock market if oil prices drop. However, regional trade tensions could escalate overall. 🌱 On the other hand, a Harris win would likely mean a continuation of Biden’s focus on climate change, stable trade relations, and human rights. This could bring stability and drive investment in renewable energy projects across Asia. 🌍 However, Harris’s approach could also increase diplomatic pressure on environmental and human rights issues, potentially impacting trade relations with some Asian nations. The election’s outcome could bring both opportunities and challenges. 💡 Stay tuned as we track how the U.S. election will shape South & Southeast Asia’s economic future. Keep following us for more updates!

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In today's bullish & bearish sector of the day, the bull is here!💚 However, the bear seems to be missing! How do you think the market will perform today?🤔🔥 It will be good👍 It will be flat 👎 It will be bad 😭 It will be great ❤️

Here’s the market wrap of the day! How was the start of your week?🤔 Amazing ❤️ Good 👍 Bad 👎 Okay okay 😂

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Here is the list of the economic events that are happening around the world impacting the financial market. We keep you ahead of the global cues!📈🌏 Like what you see? Give us a 👍❤️ Open Free Demat Account Now 🔗http://tinyurl.com/yddx5a2l

New week is here and so is the bull!😍😍 The bear seems to be missing! Are you excited for today?🤔 Yes 👍 No 👎 Depends on the market 😂

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