![Best ChatGPT AI trading strategy - How I code and use it [Video]](https://editorial.fxstreet.com/images/Markets/Commodities/Metals/Gold/gold-nuggets-7636265_XtraSmall.jpg)
AUD/USD stays defensive below 0.6500 ahead of Fed
AUD/USD is on the back foot below 0.6500, consolidating the previous decline early Wednesday. China's holiday-led thin conditions and pre-Fed policy decision caution trading leave Aussie traders on the edge.
USD/JPY holds higher ground near 158.00, Fed in focus
USD/JPY holds the rebound near 158.00 in Asian trading on Wednesday. The US Dollar remains on the bid amid a risk-off market environment, underpinning the major. The interest rate differential between Japan and the US is likely to maintain a bullish pressure on the pair ahead of the Fed decision.
Gold sellers keep sight on $2,223 and the Fed decision
Gold price is catching a breather early Wednesday, having hit a four-week low at $2,285 on Tuesday. Traders refrain from placing fresh directional bets on Gold price, anticipating the all-important US Federal Reserve interest rate decision due later in the day.
Bitcoin price dips into $60K range as spot traders flock to Coinbase Lightning Network
Bitcoin price slid lower on Tuesday during the opening hours of the New York session, dipping its toes into a crucial chart area. It comes as markets continue to digest the performance of Hong exchange-traded funds after their first day of issuance.
Federal Reserve meeting preview: The stock market expects the worst
US stocks are a sea of red on Tuesday as a mixture of fundamental data and jitters ahead of the Fed meeting knock risk sentiment. The economic backdrop to this meeting is not ideal for stock market bulls.
DEEPER DIVE
US versus the Eurozone: Inflation divergence causes monetary desynchronization
Historically there is a very close correlation between changes in US Treasury yields and German Bund yields. This is relevant at the current juncture.
Building the future
There is a construction boom underway that is quietly transforming the production capabilities and other aspects of the US economy. The fastest-growing category within nonresidential construction in recent years has been manufacturing.
Addressing the public debt challenge in the EU
Recently an agreement has been reached between representatives of the European Council, the European Parliament, and the European Commission on a new economic governance framework.
FXS Signals
Technical Confluences Detector
Gold sellers keep sight on $2,223 and the Fed decision Premium
Gold price is catching a breather early Wednesday, having hit a four-week low at $2,285 on Tuesday. Traders refrain from placing fresh directional bets on Gold price, anticipating the all-important US Federal Reserve (Fed) interest rate decision due later in the day.
Gold price looks vulnerable, as the Fed verdict looms
The Fed is widely expected to hold the Fed Funds Rate steady in the range of 5.25% to 5.5% at its May policy meeting. However, the path forward on the interest rates is likely to be laid out in the policy statement and Fed Chair Jerome Powell’s press conference will set the tone for Gold markets in the coming weeks.
CRYPTOCURRENCIES
Ethereum dips below key level as Hong Kong ETFs underperform
Ethereum (ETH) experienced a further decline on Tuesday following a disappointing first-day trading volume for Hong Kong's spot Bitcoin and ETH ETFs. This comes off the back of increased long liquidations and mixed whale activity surrounding the top altcoin.
Bitcoin Cash advocate Roger Ver arrested and charged with falsifying taxes
Bitcoin Cash (BCH) proponent Roger Ver, also an early Bitcoin investor, was allegedly picked up by Spanish authorities over the weekend on charges of tax fraud by the US DOJ.
Bitcoin price dips into $60K range as spot traders flock to Coinbase Lightning Network
Bitcoin slid lower on Tuesday during the opening hours of the New York session, dipping its toes into a crucial chart area. It comes as markets continue to digest the performance of Hong Kong ETFs.
Renzo's REZ dips after airdrop and Binance listing
Renzo users could claim their airdrop based on accumulated ezPoints. REZ dips about 35% after listing on Binance and several other exchanges. Renzo seems to have gotten over an earlier scare from ezETH depeg last week.
THE STOCK OF THE DAY
TSLA accelerates 15% on Monday after FSD approval Premium
Tesla stock rocketed up 15.3% on Monday. CEO Elon Musk took a trip to China over the weekend. Tesla received Chinese approval for its semi-autonomous driving software. TSLA stock could make a run for the $235-$240 range based on daily chart.
ECONOMIC CALENDAR
WEEKLY FORECAST
EUR/USD: Federal Reserve and Nonfarm Payrolls spell action next week Premium
The EUR/USD pair temporarily reconquered the 1.0700 threshold this week, settling at around that round level. The US Dollar lost its appeal following discouraging US macroeconomic data indicating tepid growth and persistent inflationary pressures.
GBP/USD: Pound Sterling recovers after two straight weeks of losses Premium
Pound Sterling witnessed a negative start to the week despite the return of risk appetite on ebbing fears over a wider regional conflict in the Middle East.
US Dollar: Decline expected to moderate ahead of Fed and NFP Premium
A modest weekly retracement saw the Greenback reverse two consecutive advances, motivating the USD Index (DXY) to retreat further from yearly peaks at around 106.50 recorded earlier in the month.
Gold: Strength of $2,300 support is an encouraging sign for bulls Premium
Gold (XAU/USD) price started the week under heavy bearish pressure and registered its largest one-day loss of the year on Monday. The pair managed to stage a rebound in the second half of the week but closed in negative territory.
Bitcoin: BTC’s next breakout could propel it to $80,000 Premium
Bitcoin’s (BTC) recent price consolidation could be nearing its end as technical indicators and on-chain metrics suggest a potential upward breakout. However, this move would not be straightforward and could punish impatient investors.
Week ahead – Hawkish risk as Fed and NFP on tap, Eurozone data eyed too
Fed meets on Wednesday as US inflation stays elevated. Will Friday’s jobs report bring relief or more angst for the markets? Eurozone flash GDP and CPI numbers in focus for the euro. Chinese PMIs and New Zealand employment to be watched too.
![Best times of day to trade [Video]](https://editorial.fxstreet.com/images/Macroeconomics/Countries/Europe/Norway/the-morning-of-oslo-norway-55518176_XtraSmall.jpg)
![Your trading strategy for global conflicts [Video]](https://editorial.fxstreet.com/images/Macroeconomics/Events/RussiaUkraine/Battle_Tank_War_XtraSmall.jpg)
