Gold Steady as US Inflation Eases, Central Banks' Decisions...
Updated
Gold steadied at approximately $1,970 per ounce on Friday and appeared to be heading for its third consecutive week of gains. This positive trend comes in the wake of the US inflation easing, which has given rise to hopes that the Federal Reserve is nearing the conclusion of its current cycle of monetary policy tightening.
Despite these positive indications, market analysts widely anticipate that the US central bank will raise interest rates by 25 basis points later this month. However, the probability of additional rate hikes for the remainder of the year has diminished, leading traders to scale back their bets on such outcomes.
Looking ahead, investors are keeping a close eye on the forthcoming interest rate decisions from both the European Central Bank and the Bank of Japan next week, which could have significant implications for the financial markets.
In a different context, the Bank of England is facing reduced expectations for further rate hikes due to softer-than-anticipated UK inflation data.
In a surprising move, the People's Bank of China decided to keep its one and five-year loan prime rates unchanged during its July fixing. This defied prior expectations that Chinese authorities would adopt a more accommodative monetary policy to stimulate economic growth.
XAUUSD SELL 1965 - 1967💯💯✅ TP1: 1960
✅ TP2: 1955
🛑 SL: 1973
Note
Runing +50pips ✅✅
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.