XAU detained after receiving news of Durable Goods Orders m/m
Updated
The world gold market is quiet as investors are waiting for important reports this week. It is expected that the personal consumption expenditure index (PCE) report, which is expected to influence the interest rate direction of the US Federal Reserve (Fed), will be published today.
In recent statements, Fed officials left open the possibility that the US Central Bank will not discuss cutting interest rates until mid-year.
With that in mind, this expert said that the short-term direction of gold will continue to depend on upcoming economic data and their impact on the USD, yields and, not least, the future. Hope for interest rate cuts.
In recent statements, Fed officials left open the possibility that the US Central Bank will not discuss cutting interest rates until mid-year.
With that in mind, this expert said that the short-term direction of gold will continue to depend on upcoming economic data and their impact on the USD, yields and, not least, the future. Hope for interest rate cuts.
Note
SELL XAU 2037 - 2039TP1: 2030
TP2: 2025
SL: 2050
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.