SAU continues to rise after setting a record
Weaker US macroeconomic data has put significant downward pressure on the USD, pushing it closer to its lowest level this year while pushing gold prices to a new record high. The Consumer Confidence Index fell to 98.7 in September, down from 105.6 in August, while Current Conditions fell to 124.3 from 134.6.
A Richmond Fed survey showed manufacturing activity remained weak, with the composite index falling to -21 in September from -19 in August. The CME Group’s FedWatch tool shows that markets are pricing in a more than 60% chance of the Fed cutting interest rates by another 50 bps at its November meeting.
A Richmond Fed survey showed manufacturing activity remained weak, with the composite index falling to -21 in September from -19 in August. The CME Group’s FedWatch tool shows that markets are pricing in a more than 60% chance of the Fed cutting interest rates by another 50 bps at its November meeting.
Note
SELL XAU 2664
TP1: 2657
TP2: 2650
SL: 2670
Note
Running + 60 pips Note
RUNNING + 100 PIPS 
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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.