Weak Retail Sales and CPI Data Drive Precious Metals Higher Ahead of Fed Decision.
This is a quick update on the market's reaction to weaker than expected economic statistics in the US. CPI and retail sales could shift the Fed's monetary stance going forward.
Hi @maneco64, on the ground everyone knows the market isn't good but guess the FED need to keep the show up telling everyone things are ok. But in time to come, the massive bubble will blow in their face. Thanks for the information.
Hi @ whatsupz, I agree with you 100% about the Fed. They are purely a PR institution and great spinners for now!
Yeah. Hopefully in time to come, cryptocurrencies will weaken their influence so we wont be manipulated by them.
good stuff as usual
Thanks.
if the fed is data dependent, they won't hike. transitory? no way.
I think they will hike today but the market has now probably lowered the odds of further hikes later this year significantly.
then they are all liars about being data dependent.
I think with the data coming out a few hours before the meeting it makes it unlikely they will change their mind.
My guess
90% certain they will raise rates
95% sure it will be the last one this year
I'm sure the bad news is only going to get worse.. Lots of large retail outlets closing in the US
I agree with you @dune69
Thank you for the update, but I am not optimistic that Janet Yellen will raise rate but we shall see.
The only reason I think the FOMC will decide to raise rates is that they have telegraphed to the market that it's pretty much a done deal and they would lose face so to speak if they didn't. The other reason I think they will raise is that they know a recession is coming and a hike to 1% - 1.25% will give them more room to cut.
I have noticed that the market rates will telegraph what direction they think rates are going and lately the Fed just goes along with the market. The tail wagging the dog possibly.
I'm thinking the fed will not hike and gold will rocket back above the 6 year down trend. It's right on it now. Another big break out above the downtrend and I think it will lead to a sustained and significant rise in gold.
Not long now to wait and see.
Aussie gold stocks have been strengthening over the past few weeks. Looks like an accumulation phase is well underway. Hopefully the game will soon be up on the manipulation and we get steady progress higher over the next few months.
Agreed. I've noticed some strength in GDXJ too this week, usually a good sign.
If we can just break that down trend it will be all systems go. Take a look at my post from last week:
https://steemit.com/gold/@unclehermit/does-the-break-out-in-gold-signify-the-end-of-the-dollar
I think gold will go up no matter what the FOMC decide to do. We need to keep an eye on the statement and the Fed's economic forecast going forward.
Agreed, but if we get a hold we might just get the sustained breakout we've been waiting all these years for. Mind you, you can just imagine a few billion in naked shorts hitting the market if we do. Lets wait and see.
Ok so they did hike in the end which surprised me. Gold should be interesting the next few days and watch out house prices!
In any case, we must all prepare accordingly...
Keep up with the videos. Love em!!!
-Cheers