XAUUSD 2/8 : Will there be another day of drastic changes?
After a good first session of the week, Gold yesterday fell sharply again from 1967 to 1942 even though PMI data and job openings were worse than forecast, which did not support Gold's gain.
The USD received support at the start of the week after a survey from the Federal Reserve showed US banks reported tighter signal standards and lighter borrowing demand in the second quarter. This news shows that rising rates are having an impact on the US economy, hitting risk sentiment.
Fed Chairman Jerome Powell has clearly emphasized the importance of upcoming economic data to policy decisions from the Fed, especially non-farm data this weekend, to see if it holds true. for a Labor market is still tight to me or not.
Today we have ADP payrolls, the forecast is showing a much lower number of new jobs in July. This could be a support factor for Gold today
The USD received support at the start of the week after a survey from the Federal Reserve showed US banks reported tighter signal standards and lighter borrowing demand in the second quarter. This news shows that rising rates are having an impact on the US economy, hitting risk sentiment.
Fed Chairman Jerome Powell has clearly emphasized the importance of upcoming economic data to policy decisions from the Fed, especially non-farm data this weekend, to see if it holds true. for a Labor market is still tight to me or not.
Today we have ADP payrolls, the forecast is showing a much lower number of new jobs in July. This could be a support factor for Gold today
Comment:
Late Tuesday, ratings agency Fitch downgraded the US government's top signal rating to AA+ from AAA, citing the risk of a Financial Recession over the next three years. The US dollar partially reversed earlier gains and tracked a fresh factor decline in US Treasury yields, supporting some value for gold prices early Wednesday.
Comment:
The fall of many currencies sent the USD to its highest value in 3 weeks.
USD but also be supported by the still tight main policy money currency of the Federal Reserve (Fed). The Fed may raise interest rates one more time in September. US banks are also closely checking lending conditions to ensure safety.
Gold's price decline also makes the commodity closely related to gold, which is oil, declines. Rising bond yields also weighed on gold.
USD but also be supported by the still tight main policy money currency of the Federal Reserve (Fed). The Fed may raise interest rates one more time in September. US banks are also closely checking lending conditions to ensure safety.
Gold's price decline also makes the commodity closely related to gold, which is oil, declines. Rising bond yields also weighed on gold.
Comment:
BUY short price zone: 1943 -1945
Stop Loss : 1939
Take Profit 1: 1955
Take Profit 2: 1960
Note: only applies to the European version
Stop Loss : 1939
Take Profit 1: 1955
Take Profit 2: 1960
Note: only applies to the European version
