XAUUSD - When the market moves sideways, should you buy or sell?
Updated
World gold prices today (August 14) fell slightly as US economic data continued to support the trend of tightening monetary policy of the US Federal Reserve (Fed).
According to the latest report, in July 2023, the US CPI increased by 0.2% compared to the previous month. If so, in the same period last year, CPI increased by 3.2%, lower than the forecast of 3.3% of experts but higher than the level of 3% in June. Meanwhile, producer price index (PPI) decreased. for the 10th month in a row, down 4.4% year-over-year and June's decline was 5.4%.
The report reinforced the view that the US Federal Reserve (Fed) will support a rate hike at the FOMC meeting in September. However, a growing number of Fed watchers believe that the US economy has already recovered. get ready to turn the tide at work Use broadcast usage much faster than anticipated and may not require further interest rate hikes.
"The CPI is still too high for the Fed to ease monetary policy on usage at this point," said analysts at TD Securities. Higher exchange rates and opportunity costs make holdings. If you fail to keep gold, it's very expensive."
Gold still faces a wake-up call for now, especially as short-term bond yields continue to hover around 5%.
According to the latest report, in July 2023, the US CPI increased by 0.2% compared to the previous month. If so, in the same period last year, CPI increased by 3.2%, lower than the forecast of 3.3% of experts but higher than the level of 3% in June. Meanwhile, producer price index (PPI) decreased. for the 10th month in a row, down 4.4% year-over-year and June's decline was 5.4%.
The report reinforced the view that the US Federal Reserve (Fed) will support a rate hike at the FOMC meeting in September. However, a growing number of Fed watchers believe that the US economy has already recovered. get ready to turn the tide at work Use broadcast usage much faster than anticipated and may not require further interest rate hikes.
"The CPI is still too high for the Fed to ease monetary policy on usage at this point," said analysts at TD Securities. Higher exchange rates and opportunity costs make holdings. If you fail to keep gold, it's very expensive."
Gold still faces a wake-up call for now, especially as short-term bond yields continue to hover around 5%.
Note
XAUUSD SELl 1918- 1920💯💯✅ TP1: 1912
✅ TP2: 1905
🛑 SL: 1927
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.