Macroeconomics
In the early morning of March 18, local time, the Israeli military launched a large-scale airstrike on the Palestinian Gaza Strip, killing at least 412 people and injuring more than 500 people. Israeli Prime Minister Netanyahu said the airstrike was because Hamas refused to extend the ceasefire proposal and would intensify the attack on Hamas, exacerbating the humanitarian crisis in Gaza. The international community has different reactions to this. Many countries and international organizations condemned Israel, while the United States supported Israel.
Hamas accused Israel of refusing to start the second phase of negotiations, and the ceasefire negotiations were deadlocked. On the same day, Trump and Putin had a long phone call. The two sides exchanged views on the situation in Ukraine. Putin agreed to suspend attacks on Ukrainian energy infrastructure for 30 days, but did not accept the proposal for a comprehensive ceasefire. Ukrainian President Zelensky expressed support for the relevant proposals and emphasized that Ukraine would respond when Russia attacked Ukrainian energy facilities. In addition, the German Bundestag passed a 100 billion euro spending bill to provide financial support for multiple fields, which will help Germany revive its economy and strengthen its military. The Federal Reserve monetary policy meeting opened today, and the market is paying attention to the Fed's policy statement and officials' new economic forecasts to understand their views on the impact of the Trump administration's policies.
Gold
Gold prices (XAU/USD) entered a bullish consolidation phase near historical highs, and traders took a cautious approach ahead of Wednesday's highly anticipated Federal Open Market Committee (FOMC) policy decision. The market generally expects the Federal Reserve (Fed) to maintain the federal funds rate in the current range of 4.25% to 4.50%. Therefore, market attention will be focused on the Fed's latest economic forecasts and Chairman Jerome Powell's post-meeting speech, which may provide important insights into the trajectory of future rate cuts. These developments will help shape the trend of the US dollar (USD) and affect the next move of gold.
Personal summary: short-term fast in and out bearish, long-term is an upward trend
European short-term operation ideas:
Gold 3035 long, stop loss 3030, target 3046-3050;
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Strive for weekly trading profit: $40000, are you interested in joining this goal? Free signals in Telegram:
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t.me/+alDpuIRD9vU4MWQx
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.