1) Markets seems calmed, after the massive dollar sell-off and gold’s surge earlier in the week as tensions escalated ahead of the Federal Reserve’s decision.
2) Gold steadily traded around $ 1,950, after hit all-time peak $ 1,981 on Tuesday. Bank of American foresees gold prices can be rising to $ 3,000 within 18 months.
3) U.S. Dollar try to cover some losses after a sell-off early this week, and stocks are trading lower around the Federal Reserve’s decision. Fed is set to leave its policy unchanged after its massive monetary stimulus early in the year and as it has already signaled no rate hikes at least until 2022.
4) Chairman of the Federal Reserve, Jerome Powell will likely be asked about its recent extension of lending programs, the potential for controlling the yield curve, and how lawmakers can play their role. Concerns about worrying signs related to the US economy could further weigh on the dollar.
5) Senate Republicans are unable to fully agree on the plan presented earlier this week by their own party days ahead of the expiry of federal unemployment benefits. The program includes to deduct this support by a third, while Democrats prefer only a minor cut. Both sides are also at odds over liability issues, blame each other, and acknowledge talks are only at the beginning.
6) Without additional help, U.S. could suffer, as personal expenditure would fall. The Conference Board’s Consumer Confidence gauge dropped sharply to 92.6 points in July.
7) U.S. coronavirus cases have stabilized around 60,000 per day while the 7-day rolling average of deaths continues to rise topping 1,100.
8) President Donald Trump has repeated his optimism that a vaccine is coming shortly, adding to hopes expressed by top epidemiologist Anthony Fauci. Several Phase 3 trials are underway, with hopes of completing them in the late autumn.
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