XAUUSD - Slips as US Dollar recovers ahead of US CPI
The gold price dipped going into Wednesday’s trading session with the US Dollar consolidating after Monday’s rout and ahead of US CPI later today. Undermining the precious metal is the continual climb of US real yields. When we step back and look at the bigger picture, the ascent of real yields might appear to be one-way traffic for now.
If today’s US CPI figure falls short of expectations, it might see long-term inflation expectations dip, adding to real yields. If today’s US CPI figure beats estimates, it could add to worries of a tighter monetary policy from the Federal Reserve at next week’s Federal Open Market Committee (FOMC) meeting.
If today’s US CPI figure falls short of expectations, it might see long-term inflation expectations dip, adding to real yields. If today’s US CPI figure beats estimates, it could add to worries of a tighter monetary policy from the Federal Reserve at next week’s Federal Open Market Committee (FOMC) meeting.
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