In today’s trading session, the primary sentiment is driven by the potential for interest rate cuts by the US central bank. This comes in light of dovish signals from two officials of the Federal Reserve, John Williams and Christopher Weller.
Market participants are also closely watching the developments surrounding the nomination for the next Fed Chair. Kevin Hassett, the chief economic advisor to US President Donald Trump, has emerged as a strong candidate to succeed Jerome Powell. Given Hassett’s more dovish reputation, traders anticipate a greater likelihood of aggressive interest rate cuts in the upcoming year.
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It is worth noting that we are currently experiencing significant volatility, accompanied by an increase in spreads on Gold (XAUUSD) products. This situation is due to technical disruptions being faced by the Chicago Mercantile Exchange (CME), which is one of the key references for gold pricing and liquidity globally.
Please be advised that this situation is beyond the MIFX system. We are actively monitoring all price actions and execution conditions in real-time to ensure that trading continues smoothly amid the current market conditions.
Clients are encouraged to implement suitable risk management strategies and ensure sufficient margin for open positions.
Our internal team will continue to keep a close eye on the situation and coordinate with relevant partners. We will provide further updates as soon as trading on the CME resumes normal operations.
