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The Fed to send a dovish signal: QE, the dot plot and Powell's press conference - TD Securities

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(Kitco News) The Federal Reserve is projected to send a dovish signal Wednesday afternoon through its messaging on QE, the dot plot and the Fed Chair Jerome Powell’s press conference, says TD Securities. “It is FOMC day, and the precious metals market awaits the latest hurdle for a refreshed rally to be removed. As equity markets continue to shake off last week's positioning squeeze, gold is once again feeling the love,” the commodity strategists write. “Officials are set to send a dovish signal through the wording on QE, the extension of the dot plot through 2023, and the Chairman's press conference. Over time, this will open up the door to an extension in the average maturity of Treasury purchases. In this context, we argue that the balance of risks is tilted towards a breakout higher.” 

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