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🚀 USDCAD rebounds on the possibility of more cautious U.S. rate cuts USDCAD rebounded and retested the 1.34850 resistance level on Wednesday. The pair experienced a 0.4% increase after U.S. data indicated that the sales of new single-family homes declined less than anticipated in August. 👉 Possible effects for traders Sales of new single-family homes declined by 4.7% in August, reaching a seasonally adjusted annual rate of 716,000. While this drop partially offset the revised 10.3% surge from the previous month, it still slightly exceeded market forecasts of 700,000. This drop may influence the Federal Reserve's (Fed) plans regarding the U.S. monetary policy. Still, according to the CME FedWatch tool, there is a 60.5% possibility that the Fed will cut the rate by another 50 basis points (bps) in November. Overall, investors seem to have taken a more cautious approach to the U.S. interest rate reduction, pushing the U.S. Dollar Index (DXY) higher. This week, Fed officials didn't give a unified view of where they think rates will go. On Wednesday, Fed governor Adriana Kugler said she supports the decision to cut rates by 50 bps in November, but she didn't say her preferred path for future cuts. Earlier this week, Austen Goolsbee from the Chicago Fed said policymakers shouldn't lag behind in making sure the economy transitions smoothly. Raphael Bostic from the Atlanta Fed also stressed the importance of not cutting rates too quickly. Overall, there is no clear consensus on the U.S. interest rate path. USDCAD has been declining during the Asian and early European trading sessions. Today, the U.S. Jobless Claims report will be published at 12:30 p.m. UTC. These updates on the state of the U.S. labour market will provide further insight into the pace of interest rate reduction. Additionally, Fed Chairman Jerome Powell will deliver a speech at the U.S. Treasury Market Conference in New York at 1:20 p.m. UTC today. His comments may affect the U.S. dollar and related pairs, including USDCAD. 🔥 Sign Up Now ➡️ https://tlt.ink/octa

Gold (XAU/USD) continues its bullish run, fueled by positive ETF flows, China’s stimulus measures, and geopolitical uncertainties. With prices nearing $2,650, will gold break through to new highs? Stay informed with the latest market insights. 🌍💰 #GoldPrices #MarketUpdate #Investing

Recent policy easing by major central banks like China’s PBoC, which announced significant stimulus measures including a 50-basis-point cut in reserve requirements, alongside the Fed’s recent rate cuts, has sparked market optimism. How do you think these moves will impact Bitcoin and the broader crypto market? Share your thoughts! 🌍📈 #Bitcoin #CryptoMarket #CentralBanks

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Here is the list of the global 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 👍❤️

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🚀 EURUSD rises as Fed's aggressive rate cuts outpace ECB The euro (EUR) gained 0.61% against the U.S. dollar (USD) on Tuesday as a worse-than-expected Consumer Confidence report revived hopes for more rate cuts by the Federal Reserve (Fed), weakening the greenback. 👉 Possible effects for traders Conference Board (CB) report showed that U.S. consumer sentiment deteriorated sharply in September, falling towards a six-month low of 98.7 from an upwardly revised 105.6 mark recorded in August. The Consumer Confidence Index (CCI) was significantly below the expected 104 as worries over the U.S. labour market health grew while inflation remained a concern for most households. ‘If the Fed follows through with a relatively aggressive easing cycle over the next year, that could shore up consumers' optimism in the state of the economy and keep the economy from a hard landing’, said Ben Ayers, senior economist at Nationwide. Indeed, that is exactly what the market expects the Fed to do. The probability of another 50-basis-point rate cut at its next meeting on 7 November has increased to 60.2%. Meanwhile, the European Central Bank (ECB) is still expected to gradually ease its policy despite the many economic challenges it faces. ‘I would expect us to continue to gradually reduce interest rates in the coming time, also in the first half of 2025. I don't expect rates to return to the extremely low levels we saw before the pandemic. They will likely end up on a somewhat more natural level’, said Klaas Knot, a Dutch ECB governing council member. Either way, the divergence in monetary policy expectations between the ECB and the Fed continues to favour the euro, with bulls now targeting a key level of 1.12200—a 15-month high. Today, the macroeconomic calendar is relatively uneventful. Still, the release of the U.S. New Home Sales report at 2:00 p.m. UTC may add some volatility to USD-related pairs, including EURUSD. Higher-than-expected figures may dent the bullish trend slightly but are unlikely to reverse it. Conversely, lower-than-expected results will almost certainly pull EURUSD higher towards 1.12200. 🔥 Sign Up Now ➡️https://bit.ly/attocta

🚀 Gold price continues to set new records Gold (XAU) rose towards a record high on Tuesday as the U.S. CB Consumer Confidence figures were lower than expected. 👉 Possible effects for traders Weaker U.S. macroeconomic data put significant downward pressure on the U.S. dollar (USD), bringing it closer to its year-to-date low while pushing the gold price towards a new all-time high. Consumer Confidence Index dropped towards 98.7 in September, down from 105.6 in August, while the Present Situation Index declined towards 124.3 from 134.6. A Richmond Federal Reserve (Fed) survey showed that manufacturing activity remained weak, with the composite index falling towards −21 in September from August's −19. The CME Group's FedWatch Tool indicates that markets are pricing in over a 60% probability of the Fed cutting interest rates by another 50 basis points at the November meeting. Additionally, ongoing geopolitical risks from conflicts in the Middle East and uncertainty surrounding the upcoming U.S. presidential election are expected to support XAUUSD. Traders may await clearer signals regarding the Fed's potential rate cuts before placing large orders. This week's key events include speeches from influential Fed members, notably Fed Chair Jerome Powell on Thursday. Moreover, Friday's U.S. Personal Consumption Expenditure (PCE) Price Index will likely impact USD demand and XAUUSD movements. XAUUSD touched $2,670 today before pulling back as bulls took profits, with the daily chart showing slightly overbought conditions. Additionally, the current risk-on sentiment fueled by China's new stimulus measures has shifted some demand away from the safe-haven metal. However, a significant corrective drop appears unlikely due to ongoing expectations of more aggressive policy easing by the Fed. The U.S. New Home Sales report today at 2:00 p.m. UTC may trigger some slight volatility. ‘Spot gold may extend gains into $2,675 to $2,689 per ounce, as it has broken key resistance at $2,633’, said Reuters analyst Wang Tao. 📲 More trading opportunities in our app If the link doesn’t work, try a special one for your country: 🇮🇩ID 🇮🇳IN 🇵🇰PK 🇹🇭TH

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Gold holds deep cultural significance in India, symbolizing wealth, status, and tradition. With over a billion people, India leads global gold demand, driven largely by jewelry and gold bars. Trade Gold: https://bit.ly/attexpertoption

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