4 Global Market Updates- 12 August, 2022

 

In this article, we have covered the highlights of global market news about the XAU/USD, EUR/GBP, AUD/USD and GBP/JPY.
XAU/USD on the defensive amid increasing rates, a strong USD, and tighter monetary – HSBC

A resolute Fed tightening program and a strong USD remain challenges for gold. According to analysts at HSBC, the market’s move toward a 50 bps rate rise rather than a 75 bps increase may serve to limit the near-term downside for the yellow metal.

“GOLD is negatively impacted by the Fed’s continued commitment to increase rates to combat growing prices, mainly while the USD seems stable. Even while it is unclear that the road to this additional USD strengthening over the following months would be a straight line higher, the prognosis for Fed policy and the global economy is likely to be USD helpful over the near to medium term.

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