Gold Price Forecast: XAU/USD bulls cheer Fed pivot sentiment after US CPI miss – by fx_ross Gold Commodities Fed DollarIndex SEO
is higher by 1.5% and has travelled from a low of $1,781.02 to a high of $1,824.52. rose +7.1% from a year earlier in November, compared with the consensus forecast for a +7.3% gain and the October reading of +7.7%. Prior to the data, markets were getting set in the case of a softer reading that could have been the catalyst for a dovish Federal Open Market Committee this week.
There is the risk that the ECB sounds and acts more hawkishly than the Fed this week. If this were to transpire, the US Dollar is going to have a hard time correcting whatever potential unwind comes of a dovish Federal Reserve and today's inflation data.will of course continue to underline their determination to fight inflation.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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