Gold Weekly analysis
📝 Weekly gold
◽️ After Powell's speech at the Jackson Hole meeting, sellers will have the upper hand because the Fed's hawkish policies will continue.
◽️ This week's NFP report has gained importance as speculation of the Fed's next rate hike increases.
◽️ This week's US NFP report is one of the final pieces of the September interest rate-setting puzzle for the FED.
◽️ We also have the Chicago PMI and the ADP employment report for Wednesday, and the ISM manufacturing PMI on Thursday. On Friday, the NFP report will be released, which is expected to have created 290,000 new jobs in August after the unexpected data of 528,000 jobs in the previous month.
◽️ But what is important is that the Fed said last week that keeping inflation under control is important to them and that they are not backing down from their hawkish stance even as fears of a recession intensify.
◽️ So the chance of an interest rate increase of 0.75% is still high And the only reason the Fed won't budge from its hawkish stance is employment data. If the labor market suffers, the possibility of a 0.5% interest rate increase may still be exceeded
🔻 Fundamentally, there is nothing to effect on gold because the Fed said everything it had to say. US inflation and FED speak all priced on gold. According to our analytical analysis team, it is possible to trade gold with US10Y in the short term.
🔻 If inflation continues, the Federal Reserve will reduce the rate of interest rate hikes
🔻 Friday's inflation report is more important than Powell's speech. Inflation is falling and gold should react positively.
🔻 Importante Supports: $1728, $1711 and $1700
🔻 Importante Resistance: $1754, $1765 and $1775
◽️ After Powell's speech at the Jackson Hole meeting, sellers will have the upper hand because the Fed's hawkish policies will continue.
◽️ This week's NFP report has gained importance as speculation of the Fed's next rate hike increases.
◽️ This week's US NFP report is one of the final pieces of the September interest rate-setting puzzle for the FED.
◽️ We also have the Chicago PMI and the ADP employment report for Wednesday, and the ISM manufacturing PMI on Thursday. On Friday, the NFP report will be released, which is expected to have created 290,000 new jobs in August after the unexpected data of 528,000 jobs in the previous month.
◽️ But what is important is that the Fed said last week that keeping inflation under control is important to them and that they are not backing down from their hawkish stance even as fears of a recession intensify.
◽️ So the chance of an interest rate increase of 0.75% is still high And the only reason the Fed won't budge from its hawkish stance is employment data. If the labor market suffers, the possibility of a 0.5% interest rate increase may still be exceeded
🔻 Fundamentally, there is nothing to effect on gold because the Fed said everything it had to say. US inflation and FED speak all priced on gold. According to our analytical analysis team, it is possible to trade gold with US10Y in the short term.
🔻 If inflation continues, the Federal Reserve will reduce the rate of interest rate hikes
🔻 Friday's inflation report is more important than Powell's speech. Inflation is falling and gold should react positively.
🔻 Importante Supports: $1728, $1711 and $1700
🔻 Importante Resistance: $1754, $1765 and $1775
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