Gold Analysis 29/05/24
Updated
If the unemployment claims data on Thursday comes in higher than expected, indicating more people are filing for unemployment, it might suggest a weakening job market. This could lead the Federal Reserve to consider pausing rate hikes or even lowering rates to support the economy.
On the other hand, if the claims are lower than expected, showing a strong job market, the Fed might feel more confident in raising rates to combat inflation. They tend to balance between controlling inflation and supporting employment.
The latest from the Federal Open Market Committee (FOMC) indicates that they're closely monitoring inflation and economic growth. As of their most recent meeting, they have signaled a cautious approach, suggesting they might pause further rate hikes to assess the impact of previous increases.
However, they haven't ruled out future hikes if inflation remains high. The timing of any rate changes would depend on upcoming economic data, particularly inflation and employment reports. So, the possibility of a rate adjustment could come as early as their next meeting if conditions warrant it.
Elliot waves : We're not at the wave 4 ( correction ) , i believe we still have another push down for gold , but i think we still have time to push more up b4 the drop for new LL , the confirmation for this is thursday when they release the unemployment claims data
On the other hand, if the claims are lower than expected, showing a strong job market, the Fed might feel more confident in raising rates to combat inflation. They tend to balance between controlling inflation and supporting employment.
The latest from the Federal Open Market Committee (FOMC) indicates that they're closely monitoring inflation and economic growth. As of their most recent meeting, they have signaled a cautious approach, suggesting they might pause further rate hikes to assess the impact of previous increases.
However, they haven't ruled out future hikes if inflation remains high. The timing of any rate changes would depend on upcoming economic data, particularly inflation and employment reports. So, the possibility of a rate adjustment could come as early as their next meeting if conditions warrant it.
Elliot waves : We're not at the wave 4 ( correction ) , i believe we still have another push down for gold , but i think we still have time to push more up b4 the drop for new LL , the confirmation for this is thursday when they release the unemployment claims data
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