On 2nd Jan, 2020, Mr. Richard Clarida Vice Chairman of the Federal Reserve expressed his satisfaction that he believes that the Fed policy being implemented is in good condition, which will continue to support economic growth, job market stability and rising consumer up to 2%.
on 3rd Jan, 2020, John C. Williams Chief Executive Officer of the Federal Reserve Bank of New York expressed that about economic growth and rising inflation, and he also indicated that he was ready if there were any cases that would affect the economy.
In mid-January 16, 2020, the governor of the Federal Reserve in Kansas City, Michelle Bowman expressed her interest in the US economy, which is currently in a very good position as the GDP has been increase.
The head of the Federal Reserve in Philadelphia, Patrick Harker expressed his concern on January 15, 2020 that the US economy is in such good shape that he thinks there is no reason to keep going on drop or raise interest rates.
On January 3, 2020, the head of the Central Bank of Cleveland, Loretta Mester who had an interest in raising interest rates, did not comment on the raising interest rate just because she indicated the US economic situation in a good spot.
On January 9, 2020, Neel Tushar Kashkari,President of the Federal Reserve Bank of Minneapolis who has a strong tendency to drop interest rates, also expressed that should keep interest rates temporarily for six months to one year at the end of January in FOMC but it depends on the level of inflation that will drop or not.
Pivot point 1,573.60
S1 – 1,580 R1 – 1,564
S2 – 1,589 R2 – 1,558
S3 – 1,596 R3 – 1,548
Today’s recommendation, investors should sell gold at 1,579, setting stop loss at 1,584 and take profit at 1,562.
Analyzed by: Mr. Long Samnang
Business Manager of Golden FX Link Capital
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