U.S. economic data showed that inflationary pressures continued to ease. Data released by the United States last Friday showed that the personal consumption expenditures (PCE) price index in April increased by 2.1% year-on-year, the lowest since February 2021. The core PCE price index, which excludes volatile food and energy prices, rose by 2.5% year-on-year, down from 2.7% in March. This data further strengthened the market's expectations for the Fed to cut interest rates.
Federal Reserve Governor Christopher Waller said on Monday that even if the Trump administration's tariff policy may temporarily push up price pressures, a rate cut later this year is still possible. Traders continue to bet that the Fed will cut interest rates in September and expect another rate cut in December. Several Federal Open Market Committee (FOMC) members will speak this week, including an appearance by Fed Chairman Powell later on Monday, which will provide important clues to the outlook for monetary policy.
Market sentiment observation
Current market sentiment is clearly biased towards risk aversion. The general pressure on equity markets reflects the decline in risk appetite and the flow of funds to traditional safe-haven assets such as gold. The US dollar index fell back to near its monthly low, providing additional support for gold prices. Market expectations for a shift in the Federal Reserve's monetary policy are rising. A rate cut in September is almost a foregone conclusion, and expectations of another rate cut in December are also increasing.
XAUUSD XAUUSD GOLD XAUUSD XAUUSD XAUUSD GOLD
Federal Reserve Governor Christopher Waller said on Monday that even if the Trump administration's tariff policy may temporarily push up price pressures, a rate cut later this year is still possible. Traders continue to bet that the Fed will cut interest rates in September and expect another rate cut in December. Several Federal Open Market Committee (FOMC) members will speak this week, including an appearance by Fed Chairman Powell later on Monday, which will provide important clues to the outlook for monetary policy.
Market sentiment observation
Current market sentiment is clearly biased towards risk aversion. The general pressure on equity markets reflects the decline in risk appetite and the flow of funds to traditional safe-haven assets such as gold. The US dollar index fell back to near its monthly low, providing additional support for gold prices. Market expectations for a shift in the Federal Reserve's monetary policy are rising. A rate cut in September is almost a foregone conclusion, and expectations of another rate cut in December are also increasing.
XAUUSD XAUUSD GOLD XAUUSD XAUUSD XAUUSD GOLD 
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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.