MacroVoices #367 Luke Gromen: USD Update in the Wake of SVB Collapse
Macro Voices
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Gold Futures - Is the Fed Going to Cut Rates?
Dollar was incredibly oversold, it's been mean reverting. If the reversal we had yesterday sticks in any way then we could still have a move up to 107.108 on the upside. Ultimately, what the Fed does next is going to determine what happens for gold. I think they're most likely to pause this month, let the dust settle, watch the data, and maybe hike again on the May 3 meeting. Maybe we will get down to 1780 level that I was hoping to buy on the dip.
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