Markets Week Ahead: Fed, BoJ Rate Decisions, Nasdaq, Gold, Bitcoin

EUR/USD IG Client Sentiment: Our data shows traders are now net-long EUR/USD for the first time since May 30, 2024 13:00 GMT when EUR/USD traded near 1.08.2024-06-06 07:59:13Gold sinking into support, Bitcoin pressing against resistance.decisions from the Federal and the Bank of Japan. The Fed will leave all policy levers untouched but the accompanying release of the latest summary of economic projections will likely give the market something to work with.

Early Friday gold dropped $20/oz. in a few minutes after a Bloomberg report said that China had stopped buying the precious metal. China has been a big buyer of gold over the last few months and the report caused a buyer’s strike. The precious metal fell further after the release of the US Jobs Report as US Treasury yields spiked higher. Gold currently trades around $2,310/oz. and is closing in on an important level of support at $2,280/oz.

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