‘I do not think the market’s view for two more rate hikes has changed following the release of the Fed meeting minutes.’ – Helen Lau, Argonaut Securities (based on Reuters)
Pair’s Outlook
As the FOMC Meeting Minutes did not change the opinion of the market participants in regards to US rate hikes this year, the bullion began to regain previously lost ground. However, somewhere around midnight the situation has slightly changed. During the early hours of Thursday’s trading session the commodity price had slightly declined, as it must have encountered a smaller timeframe chart’s resistance, which keeps the metal form jumping. However, it is most likely that the surge will resume and the 1,270 mark will be reached.
Traders’ Sentiment
SWFX traders remain almost neutral, as 51% of open positions are short. However, 68% of trader set up orders are to buy.
