Investor sentiment became more cautious due to mixed comments from Fed officials about the upcoming monetary tightening roadmap, while also being pressured by the upward trend of the USD.
The sparse US economic calendar will keep investors focused on the speech from Fed officials this week, following the US jobs report released last Friday.
ActivTrades senior analyst Ricardo Evangelista said that employment data is much weaker than forecast and slowing wage growth will cause the FED to consider loosening monetary policy soon. After the data was released, the CME FedWatch Tool showed that the likelihood of the Fed cutting interest rates by 0.25% in September increased from 55% before the report to 85%.
The sparse US economic calendar will keep investors focused on the speech from Fed officials this week, following the US jobs report released last Friday.
ActivTrades senior analyst Ricardo Evangelista said that employment data is much weaker than forecast and slowing wage growth will cause the FED to consider loosening monetary policy soon. After the data was released, the CME FedWatch Tool showed that the likelihood of the Fed cutting interest rates by 0.25% in September increased from 55% before the report to 85%.
Note
SELL XAU 2316TP1: 2310
TP2: 2305
SL: 2322
Note
running + 40 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.