aleksandr_shirin

Gold and the American economy.

OANDA:XAUUSD   Gold Spot / U.S. Dollar
Colleagues at fxstreet.com published the following article at the end of the previous week:

Anticipation of the Fed's commitment to tighter monetary policy, potentially involving further interest rate hikes or tightening measures, is expected to dissuade traders from taking bold positions in non-yielding assets such as the yellow metal. Monetary policy decisions and Fed communications will remain the focus of dollar movements in the near term.

Moreover, recent economic data from the US has been generally positive. Initial jobless claims for the week ending September 8 were better than expected, with 220,000 new claims recorded. The report showed a slight improvement from the previous week's figure of 217,000.

The core producer price index (PPI) for August was in line with expectations, rising 2.2%, although it was slightly lower than the previous increase of 2.4%. Retail sales also showed improvement, rising to 0.6% from 0.5% in the previous month, beating market expectations that had forecast growth slowing to 0.2%.
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