Gold Price Weekly Forecast: $XAUUSD holds above key support ahead of NFP Read More!▶️ Commodities Forex
XAU/USD technical outlook suggests that sellers retain control despite latest rebound.extended its downtrend this week and touched $1,893, its lowest level since March, before erasing a portion of its weekly losses on Friday. ISM PMI surveys and June jobs report from the US could drive XAU/USD’s action next week but the technical outlook suggests that the bearish bias is likely to stay intact in the near term.
The BEA reported on Friday that the Personal Consumption Expenditures Price Index declined to 3.8% on a yearly basis in May from 4.3%. The CorePrice Index, the Fed's preferred gauge of inflation, edged lower to 4.6% from 4.7% in the same period. These readings made it difficult for the USD to hold its ground and allowed XAU/USD to edge higher ahead of the weekend.The ISM will release the Manufacturing PMI report for June on Monday.
Fed policymakers acknowledged recently that there is some softening in the labor market. Powell, however, noted at theevent that there are still around 1.7 job openings for every unemployed person in the US, highlighting a persisting imbalance between labor supply and demand.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Gold Price Forecast: XAU/USD rebound from under $1,900 offers hope for bullsXAU/USD remains vulnerable despite erasing losses. A strong US Dollar pushed Gold to $1,892, the lowest level since March. Afterwards, it rebounded r
Consulte Mais informação »
Gold Forecast: Retreats but Finds Support, Faces VolatilityGold experienced a significant decline during Thursday\u0027s trading session but found support at the 200-Day Exponential Moving Average (EMA).
Consulte Mais informação »
Gold Forecast: July 2023Gold markets have drifted lower during the majority of June, as we continue to fall in the face of higher interest rates.
Consulte Mais informação »
Gold Price Forecast: XAU/USD drops to $1,900, eyes multi-month low ahead of US inflation dataGold price meets with a fresh supply on the last day of the week and extends its steady intraday descent through the early part of the European sessio
Consulte Mais informação »
Gold holds near mid-March lows on higher Fed rate path aheadThe dollar index was steady near a two-week high hit in the previous session, making gold expensive for holders of other currencies.
Consulte Mais informação »