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Gold fell sharply after no news from the fedThe positive economic data recently released has caused investors to take profits on gold, shifting their investments to profitable assets such as stocks. Investors are also selling gold because today, the Federal Open Market Committee (FOMC) will release the minutes of last month's meeting. The employment report and positive economic data, investors expect the report will also have a positive assessment of the economy, as well as the interest rate policy may remain unchanged so that the Federal Reserve can maintain the conditions to bring inflation to the target of 2%.
TVC:GOLD
by NicoTradingMaster
Gold fluctuates amid Fed newsInvestors are looking ahead to data on the ISM services sector index and initial jobless claims, both of which are scheduled for release along with US NFP data on Friday. Data released on Wednesday showed NFP figures rose more than expected in September, suggesting the labor market remains strong. According to the CME FedWatch Tool, the probability of the Fed cutting interest rates by 50 basis points has decreased. The market is now pricing in a 37% chance of that happening, down from 49% last week. Gold tends to gain in a climate of low interest rates and political uncertainty.
TVC:GOLD
by NicoTradingMaster
Gold is being supported to increase in price from many sides.Notably, the US manufacturing purchasing managers index (PMI) for September fell short of forecasts and the previous month. The personal consumption expenditures (PCE) price index for August fell sharply from 2.5% in July to 2.2% year-over-year. The PCE price index for August also fell from 0.2% to 0.1%. Personal spending fell sharply from 0.5% in July to 0.2%. Personal income also fell from a 0.3% increase in July to 0.2% in August, below the forecast of 0.4%. The PCE index is a measure of inflation based on changes in personal consumption and is used by the Fed as its preferred indicator of inflation. Personal spending can reflect consumer optimism.
TVC:GOLD
by NicoTradingMaster
EUR/USD Trade Setup – 1 Hour TimeframeMessy Price Action 🤕🤧 On the 1-hour timeframe, EUR/USD has formed a supply zone around the 1.11600 price area, and the price is currently pulling back to that level. Meanwhile, the DXY (US Dollar Index) is tapping into a demand level on the daily timeframe. I’ve also noticed the price slowing down at a minor resistance level, but I’ll wait for a pullback to the supply zone for a more effective entry. Minor support and resistance levels are generally less reliable. Note: There are two types of Support and Resistance Levels 1. Major Support and Resistance Levels: These levels have the strength to stop and reverse a trending market altogether. They are key turning points in the market. 2. Minor Support and Resistance Levels: These levels only temporarily delay rising or falling prices within a larger trend. They provide short-term pauses but are generally less impactful..
Short
by OfficialUBKFX
XAU recovers after news-driven plungeGold rose slightly in early trading after reversing sharply lower yesterday. Gold benefited from the sharp decline in the US dollar and government bond yields following the Fed policy decision, with the metal surging more than $30 to a new all-time high of $2,600.14. However, the recovery in the US dollar and yields during and after Mr. Powell's press conference pushed gold back down to around $2,550. At the end of yesterday's session, gold adjusted to $2,556, recording a decline of more than $10.
OANDA:XAUUSD
by NicoTradingMaster
XAU sets many new recordsThe world gold price is currently at $2,563/ounce, up $46 compared to early yesterday morning. The main driving force comes from the ECB's monetary policy easing move. Specifically, the ECB has lowered the base interest rate by 25 bps to 3.5%, while reducing the refinancing rate and marginal lending rate to 3.65% and 3.9%, respectively. In addition, the gold price is also driven by expectations that the Fed will aggressively cut interest rates, after US economic indicators showed signs of slowing down.
OANDA:XAUUSD
by TrategySherpa
EUR/USD Trade Setup – 4-Hour TimeframeOn the 4-hour timeframe, EUR/USD has formed an ascending channel followed by a strong breakout to the downside, creating a supply level around the 1.11300 area, where the price has tapped in and is currently selling off from. To get a sell entry, we need to wait for a market structure break and retest. Currently, the price is at a minor support level. We need to see a breakout that creates a Lower Low; then, we will be looking to sell from the retest level, forming a Lower High. DXY has formed a Double Bottom at a daily demand level Signaling bullish momentum. Don't Trade all the time Trade only confirm trade setups.
Short
by OfficialUBKFX
Fed enters interest rate cutting cycleGold is taken into consideration a beneficiary whilst the United States Federal Reserve (Fed) enters a cycle of hobby charge cuts, which might also additionally begin from September 17-18. Lower hobby prices will motive the USD to depreciate in opposition to a basket of different predominant currencies. Gold will then boom in price. Many forecasts say that gold will reach $2,600/ounce, or even $2,seven hundred with the aid of using the give up of this 12 months or early 2025. In a latest forecast, Goldman Sachs stated that spot gold fees will reach $2,seven hundred/ounce (VND82.2 million/tael) with the aid of using early 2025. The modern unstable surroundings is stated to be a element to be able to push gold up, despite the fact that this commodity has set new information dozens of instances due to the fact that the start of 2024.
OANDA:XAUUSD
by TrategySherpa
short term gold volatility forecastA major US bank, believes that gold is currently a safe investment asset against inflation. They predict that by early 2025, the price of gold could increase to $2,700/ounce, equivalent to VND82 million/tael. Central banks' gold purchases have tripled since mid-2022 due to concerns about US financial sanctions. The upcoming interest rate cut by the US Federal Reserve (Fed) could bring capital from the West back to the gold market, supporting higher gold prices. Geopolitical issues and US public debt also contributed to the increase in gold prices.
TVC:GOLD
by NicoTradingMaster
Short Term XAU Trading StrategyGold stays strong with the principle uptrend withinside the quick, medium and lengthy time period. After receiving help from the principle confluence referred to with the aid of using readers withinside the preceding problem on the 0.618% Fibonacci extension, EMA21 and the decrease fringe of the rate channel, the rate has expanded to attain the restoration goal degree. The preliminary rate factor is $2,500. Looking ahead, if gold can damage above the bottom rate of $2,500 and surpass the 0.786% Fibonacci extension, the rate will qualify for the weekly upside goal of $2,531 withinside the quick time period and then $2,544. For the day, the bullish outlook for gold stays unchanged at a wonderful degree and could be indexed for readers as follows. Support: 2,484-2,471 USD Resistance: 2,500 - 2,503 - 2,531 USD
OANDA:XAUUSD
by NicoTradingMaster
Short Term XAU Trading StrategyEarlier, gold fell sharply to hit a more than one-week low, pressured by a rebound in the dollar, while investors awaited US non-farm payrolls data to determine the size of the cuts at the US Federal Reserve's September policy meeting. The dollar hovered near a two-week high, making gold more expensive for holders of other currencies. The market is pricing in a 63% chance of a 25 basis point cut at the Fed's next policy meeting scheduled for September 17-18, according to the CME FedWatch tool.
OANDA:XAUUSD
by TrategySherpa
Expectations that the US Federal Reserve (Fed) will sharply cut US inflation is on the decline, leading observers to expect the US Federal Reserve (Fed) to cut interest rates sharply for the rest of the year. In fact, US inflation remains at 2.9%, far from the Fed's target of 2%. If interest rates are cut too sharply, the monetary easing policy could cause inflation to return quickly. Therefore, as soon as there is a positive signal for the US economy, investors immediately consider the possibility of the Fed delaying the interest rate cut. The USD has a chance to recover.
OANDA:XAUUSD
by NicoTradingMaster