FED would likely lower rates by mid-2024

Fundamental Q News and Triggers

As anticipated, the Fed maintained interest rates, and Chair Jerome Powell surprised investors by
stating that monetary conditions have tightened significantly in recent months.

Powell did not close the door on another hike. However, the markets interpreted his remarks as a
signal that the FED would likely lower rates by the middle of 2024, ending its run of rate increases.

However, rates are predicted to stay above the 5% mark until at least the end of 2024, even if the
Fed decides not to raise them anymore.

Asian currencies, the majority of which are suffering severe losses this year as a result of pressure
from rising U.S. rates, have little chance of recovering from this.

Technical Triggers

Gold prices are consolidating, and if sustained above 61100, can rise to 61400. While if sustained
below 60700, can retrace up to levels of Rs 60200, due to profit-booking of a steep rally.

Silver prices are also consolidating, and if sustained above 72000, can rise to 73500. While if sustained
below 70900, can retrace up to Rs 70000 due to profit booking.

Support and Resistance





Disclaimer: This report contains the opinion of the author, which is not to be construed as investment advices. The author, Directors, other employees of Augmont Enterprise Private Ltd. and its affiliates cannot be held responsible for the accuracy of the information presented herein or for the results of the positions taken based on the opinions expressed above. The above-mentioned opinions are based on the information, which is believed to be accurate, and no assurance can be given for the accuracy of the information. The author, directors and other employees and any affiliates of Augmont Enterprise Private Ltd cannot be held responsible for any losses in trading. In no event should the content of this research report be construed as an express or an implied promise, guarantee or implication by or from Augmont Enterprise Private Ltd. that the reader or client will profit or the losses can or will be limited in any manner whatsoever. Past results are no indications of future performance. Information provided in this report is intended solely for informative purposes and is obtained from sources believed to be reliable. The information contained in this report is no way guaranteed. No guarantee of any kind is implied or possible where projections of future conditions are attempted. We do not offer any sort of portfolio advisory, portfolio management or investment advisory services. The reports are only for information purpose and are not to be construed as investment advices.


Share on