XAUUSD: Prelim UoM Consumer Sentiment!
Furthermore, the US Producer Price Index (PPI) for final demand saw a slight increase of only 0.1% in June, which is lower than the previously reported 0.3% for the previous month, as it was revised to indicate a fall of 0.4%. The PPI also fell from a 0.9% rise in May to 0.1% in the 12 months leading up to June, resulting in the smallest year-on-year rise since August 2020. Additionally, the US monthly employment data from last Friday showed that the economy added the fewest jobs in two-and-half-years, which could result in the Fed easing its hawkish stance. As a result, the US Treasury bond yields have decreased, which has caused the USD to weaken and the US Dollar-denominated Gold price to rise.
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.