XAU/USD bull's battle to regain the 100-day SMA at $1,955.
The focus is on Tuesday's US Retail Sales data.
At the start of the week, the XAU/USD traded in the $1,945 - $1,960 range as the USD fought back and traded resilient at the 99.90 reae. However, the US Treasury yield continued declining, limiting the Gold's downside potential.
Retail Sales are expected to have increased by 0.5% in June, while the sales exluding the Automobile sectors have expanded by 0.3%. Nothing soft inflation figures, a potential US ecnomic weakening could reduce the Fed's need to tighten policy, potentially causing volatility in Treasury yeilds and gold prices.
In that sense, these dovish bets on the Fed are responsible for the USD weakness, which allowed the XAU/USD to rally last week.
The chart suggests that the technical outlook for the XAU/USD
The focus is on Tuesday's US Retail Sales data.
At the start of the week, the XAU/USD traded in the $1,945 - $1,960 range as the USD fought back and traded resilient at the 99.90 reae. However, the US Treasury yield continued declining, limiting the Gold's downside potential.
Retail Sales are expected to have increased by 0.5% in June, while the sales exluding the Automobile sectors have expanded by 0.3%. Nothing soft inflation figures, a potential US ecnomic weakening could reduce the Fed's need to tighten policy, potentially causing volatility in Treasury yeilds and gold prices.
In that sense, these dovish bets on the Fed are responsible for the USD weakness, which allowed the XAU/USD to rally last week.
The chart suggests that the technical outlook for the XAU/USD
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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.