Winkelmann

In the span of just two days, the future of Western grain traders in Russia has been quickly rewritten.

The Bank of Japan (BOJ) is set to maintain ultra-low interest rates on Tuesday and reassure markets it will be in no rush to withdraw stimulus, even as rising inflation prods investors to price in the chance of a policy.

Gold-backed cryptocurrency is a cost-effective way to invest in gold.

The US dollar is likely to trend weaker in 2023 after hitting record highs against every major currency this year.

The Fed will slow down the pace of interest rate hikes, which has led to downward pressure on USDCAD combined with the rally in oil prices.

The USDJPY has fallen back significantly from its highs and still faces further downside risk in the medium to long term. Shorting is still an option after the rally.

With the Fed Rate Decision and the US CPI "Super Week" approaching, the gold price is expected to reach new highs; while the crude oil market is weighed down by demand fears of economic recession and is prone to fall but not rise in the short term.

As inflation is slowing down, markets expect that the Fed will decelerate the pace of rate hikes. In particular, the constant inversion of the yield curve indicates that the Fed's tightening policy is entering the final stage and the US Treasury yields may have peaked.

As energy prices are falling, expectations of U.S. inflation have eased. The US dollar still remains weak, which could push GBPUSD further up.

Market expectations for the Fed to continue to raise interest rates have not yet been dashed, with the terminal rate likely to reach more than 5% next year. The dollar's recent downside momentum may have to come to a temporary end, while the EURUSD is at risk of a further retracement.