Forecasts & Analysis

Stocks are swinging between gains and losses as traders decipher Powell’s comments.

The USD/JPY moved to its low of the session as Powell spoke as investors are hoping the Fed soon will halt is aggressive interest rate hike campaign.

The oil terminal in Turkey remains closed after the strong earthquake.

Stock markets have been a little bit negative during the trading session on Tuesday, as we wait to see how Jerome Powell speaks.

Treasury yields pulled back from recent highs, providing additional support to precious metals.

Gold markets have bounced a bit during the trading session on Tuesday to show signs of resiliency. Quite frankly, gold markets have been absolutely pummeled so it should not be a huge surprise to see market participants take a bit of a break.

In other news, German industrial production fell more than expected in December, driven by a plunge in output from energy-intensive sectors.

U.S. dollar stays strong as traders bet on a more hawkish Fed.

Silver has gone back and forth during the trading session on Tuesday, as we are sitting just above the crucial 200-Day EMA.

Bullish traders are worried that Powell may walk back some of the commentary that he made last Wednesday that prompted the market’s dovish read.