Next week, the FOMC will have its two-day meeting. Market participants expect a 50 basis points rate hike. Analysts at Danske Bank continue to expect a hawkish message regarding the policy stance in 2023. They think the recent easing in financial conditions is premature, and further hikes will be needed.
Gold Silver Reports – Gold prices edged lower on Wednesday, pressured by stronger equities and a firmer dollar amid speculation over who will be the next US Federal Reserve chief. Spot gold was down 0.2% at $1,273.70 an ounce and US gold futures for December delivery were 0.2% lower at $1,275.20 per ounce.
Neal Bhai Reports ~ The focus this week is on FED Chair Janet Yellen’s testimony before the Committee on Financial Services and Committee on Banking, Housing, and Urban Affairs on the 10th and 11th of February.