Gold prices look to Fed speak & ISM services PMI for guidance and whether or not bears can take XAU/USD down towards the $1800/oz mark.
We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.USD/JPY IG Client Sentiment: Our data shows traders are now at their least net-long USD/JPY since Oct 20 when USD/JPY traded near 150.11.Sep 26, 20232023-10-03 07:58:57ADP employment change, ISM services PMI and Fed speakers under the spotlight today.
Fed officials will be speaking today as well and with the Fed’s Bowman favoring the hawkish narrative of recent, gold may be vulnerable. Real yields have now jumped to levels last seen in November 2008 and is weighing negatively on the non-interest bearing metal as it becomes less attractive to investors.release due to the US being a primarily services driven economy. Expectations are for a marginal drop off which could give gold bulls some reprieve if actual data follows suit.. That being said, this does not imply an impending reversal as oversold markets can remain oversold for some time.
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