{"id":121130,"date":"2025-10-08T11:38:57","date_gmt":"2025-10-08T08:38:57","guid":{"rendered":"https:\/\/ironfx-com.wp-dev.int.theitops.net\/?p=121130"},"modified":"2026-01-16T14:21:18","modified_gmt":"2026-01-16T12:21:18","slug":"feds-september-meeting-minutes-in-focus","status":"publish","type":"post","link":"https:\/\/www.ironfx-cn.com\/es\/feds-september-meeting-minutes-in-focus\/","title":{"rendered":"Fed\u2019s September meeting minutes in focus"},"content":{"rendered":"

The USD was on the rise against its counterparts yesterday and during today\u2019s Asian session. Market focus today is on the release of the Fed\u2019s September meeting minutes. The market\u2019s expectations for the time being are clearly on the dovish side and the US Government shutdown tends to increase the pressure on the bank to ease its monetary policy. Also, we note that some Fed policymakers are actively pushing for a faster and wider easing of the bank\u2019s monetary policy like Stephen Miran. On the contrary some Fed policymakers like Kansas Fed President Schmidt, seem to hesitate. Overall, there seems to be a power struggle within the Fed between the doves and hawks. Should the document reaffirm or even enhance the market\u2019s expectations for the bank to ease its monetary policy further we may see the USD weakening once again, while should the bank take by surprise by Fed Policymakers underscoring their doubts for the necessity of extensive monetary policy easing, we may see the USD gaining ground while in such a case the release could weigh on gold\u2019s price and US equity markets.<\/p>\n\n\n\n

On a technical level, we note that gold\u2019s price continued to rally reaching new All Time Highs, by breaching the 4000 (S1) resistance hallmark, now turned to support. We maintain our bullish outlook for the precious metal\u2019s price as long as the upward trendline guiding the precious metal\u2019s price since the 22nd of August remains intact. Yet at the same time given that the RSI indicator is way above the reading of 70, signaling that gold\u2019s price is at over bought levels and the price action has broken above the upper Bollinger band sending similar signals, we accompany our bullish outlook with a warning for a possible correction lower. Should the bulls maintain control as expected, we set as the next possible target for gold\u2019s price the 4200 (R1) resistance level. For a bearish outlook to be adopted we would require the precious metal\u2019s price to break the 4000 (S1) support line, continue to break also the prementioned upward trendline, in a first signal of an interruption of the upward motion and continue to also break the 3850 (S2) support level.<\/p>\n\n\n\n

In the FX market, USD\/JPY continued to rally yesterday and during today\u2019s Asian session, breaking the 151.20 (R1) resistance line, now turned to support. We adopt a bullish outlook for the pair yet note that the RSI indicator has reached the reading of 70 implying a strong bullish market sentiment and at the same time that the pair may be nearing overbought levels. Similar signals are being sent by the fact that the price action has clearly surpassed the upper Bollinger band. Should the bullish outlook be maintained we set the next possible target for USD\/JPY the 154.65 (R1) resistance line. Should the bears find a chance and lead the pair lower we may see USD\/JPY breaking the 151.20 (S1) support line and start aiming for the 149.15 (S2) support level.<\/p>\n\n\n\n

As we mentioned in yesterday\u2019s report New Zealand\u2019s, RBNZ cut rates by 50 basis points and in its accompanying statement it signaled that it remains open to further easing of its monetary policy. The bank highlighted its expectations for inflation to converge around the 2 percent target mid-point over the first half of 2026. At the same time, it also notes that economic activity through the middle of 2025 was weak, and it regards that lower interest rates will support a recovery in growth. The release took the markets by surprise enhancing the market dovish expectations for the bank\u2019s intentions, thus weighing on the Kiwi. Overall, we view the bank\u2019s dovish intentions as weighing on the Kiwi on a fundamental level as it widens the interest rate differential outlook with other central banks.<\/p>\n\n\n\n

Otros puntos destacados del d\u00eda:<\/strong><\/h2>\n\n\n\n

Today we get Germany\u2019s industrial output for August, Sweden\u2019s preliminary CPI rates for September, while later on, oil traders may be more interested in the release of the EIA weekly crude oil inventories figure. On a monetary level we note that ECB\u2019s Buch, Elderson, Tuominen and Lagarde as well as BoE\u2019s Pill and the Fed\u2019s Musalem, Barr, Kashkari and Goolsbee are scheduled to speak.<\/p>\n\n\n\n

XAU\/USD Gr\u00e1fico Diario<\/strong><\/h2>\n\n\n\n
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