XAUUSD Possibilities!!!
The last week wasn't a good one supposed to be for stock market because of PMI and Unemployment Data which lead DXY to surge again, in general some Data such as CPI and retail sales can declare the next trend for stock market.
All traders' attentions focus on CPI before FED Meeting and CPI might be reach to 3.6%,
beside that if Core CPI decreased probably have no effect on Yields bond.
The possibility of a 0.25% increase in interest rates by November has increased after the very favorable release of the US Services Purchasing Managers' Index (PMI), and we can hope for further strengthening of the US dollar in the event of a favorable release of data next week.
On the one hand, gold is under the pressure of high real interest rates and on the other hand, the strengthening of DXY. Currently, gold is in valuable ranges, and as mentioned in the video of the monthly report, the valuable ranges of gold for the long-term view are the ranges of 1890, 1860, 1830, and 1790 dollars.
It should be kept in mind that if the dollar index stabilizes above the range of 105, there is a possibility that the downward movement of gold will continue to the range of 1893 dollars.
if You have any opinion about this topic, it would be appreciated to share with me.
Behzad.J
All traders' attentions focus on CPI before FED Meeting and CPI might be reach to 3.6%,
beside that if Core CPI decreased probably have no effect on Yields bond.
The possibility of a 0.25% increase in interest rates by November has increased after the very favorable release of the US Services Purchasing Managers' Index (PMI), and we can hope for further strengthening of the US dollar in the event of a favorable release of data next week.
On the one hand, gold is under the pressure of high real interest rates and on the other hand, the strengthening of DXY. Currently, gold is in valuable ranges, and as mentioned in the video of the monthly report, the valuable ranges of gold for the long-term view are the ranges of 1890, 1860, 1830, and 1790 dollars.
It should be kept in mind that if the dollar index stabilizes above the range of 105, there is a possibility that the downward movement of gold will continue to the range of 1893 dollars.
if You have any opinion about this topic, it would be appreciated to share with me.
Behzad.J
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