4 Global Market Updates- 27 July, 2022

 

In this article, we have covered the highlights of global market news about the USD, XPT/USD, Natural Gas and XAU/USD.

US Dollar Index seems to be given around 107.00 before FOMC.

With the FOMC event scheduled for later in the NA session, the index is presently giving up some of its significant gains from Tuesday and is trading in the area of 107.00.

The Fed is now expected to increase the Fed Funds Target Range by 75 basis points to 2.25 percent -2.50 percent, but investors will carefully watch Chief Powell’s press conference in order to learn more about the Fed’s plans for future rate hikes.

The index saw negative pressure after reaching almost 20-year highs north of the 109.00 level in mid-July, but for the time being it seems to have found some solid support around 106.00.

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