XAUUSD SHORT 1890
Gold had some ups and downs after the CPI data was released. Although the CPI data rose, the U.S. dollar index and 10-year government bond yields weakened, and the Federal Reserve may pause to raise interest rates.
However, today the European Central Bank decided to raise interest rates by 25 basis points. The prospects for this time's interest rate hike are not good, and more investors are worried that the euro's economic growth has shown signs of weakness.
The United States released data today showing that the retail sales rate in August was 0.6%, much higher than the expected 0.2%, and the number of unemployment benefits of 220,000 was lower than the expected 225,000. Gold fell 6 points to 1901.07 following the release of these data.
According to the overall market data analysis, gold will still be shorted. At present, it depends on whether gold can fall below the 1900 support level. Once the support level moves downward, gold will fall to 1890-1895.
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