Gold trend before CPI news, will Gold increase or decrease?
Updated
Gold prices dropped earlier today as the market waited for the US to release the latest consumer price index (CPI)
The market is still looking to the information in the US to be announced today and the meeting of the US Federal Reserve (Fed).
As the market waits for the US to release the latest consumer price index (CPI). Accordingly, May CPI is expected to increase by 0.2% and year-on-year CPI by 4.1%. In addition, US core inflation is forecast to increase by 5.3%, down from the previous increase of 5.5%.
The above figures have prompted investors to speculate that the US Federal Reserve (Fed) may keep interest rates unchanged in June but will raise interest rates by 0.25 percentage points in July 2023.
When the US government reached the public debt ceiling and issued bills to ensure spending, bond yields in the market increased, putting pressure on the Fed's operating policy.
Therefore, Gold is expected to rise to the 1985 - 2000 zone after today's news
XAUUSD BUY LIMIT 1955 - 1958 💯💯
✅𝖳𝖯1 1965
✅𝖳𝖯2 1972
✅TP3 1985
🛑𝖲𝖫 1945
The market is still looking to the information in the US to be announced today and the meeting of the US Federal Reserve (Fed).
As the market waits for the US to release the latest consumer price index (CPI). Accordingly, May CPI is expected to increase by 0.2% and year-on-year CPI by 4.1%. In addition, US core inflation is forecast to increase by 5.3%, down from the previous increase of 5.5%.
The above figures have prompted investors to speculate that the US Federal Reserve (Fed) may keep interest rates unchanged in June but will raise interest rates by 0.25 percentage points in July 2023.
When the US government reached the public debt ceiling and issued bills to ensure spending, bond yields in the market increased, putting pressure on the Fed's operating policy.
Therefore, Gold is expected to rise to the 1985 - 2000 zone after today's news
XAUUSD BUY LIMIT 1955 - 1958 💯💯
✅𝖳𝖯1 1965
✅𝖳𝖯2 1972
✅TP3 1985
🛑𝖲𝖫 1945
Note
Running +70 Pips ✅ ✅ ✅Note
Running +150 Pips ✅ ✅ ✅
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