◽️ After Powell’s speech at the Jackson Hole meeting, sellers will have the upper hand because the Fed’s hawkish policies will continue.
◽️ This week’s NFP report has gained importance as speculation of the Fed’s next rate hike increases.
◽️ This week’s US NFP report is one of the final pieces of the September interest rate-setting puzzle for the FED.
◽️ We also have the Chicago PMI and the ADP employment report for Wednesday, and the ISM manufacturing PMI on Thursday. On Friday, the NFP report will be released, which is expected to have created 290,000 new jobs in August after the unexpected data of 528,000 jobs in the previous month.
◽️ But what is important is that the Fed said last week that keeping inflation under control is important to them and that they are not backing down from their hawkish stance even as fears of a recession intensify.
◽️ So the chance of an interest rate increase of 0.75% is still high And the only reason the Fed won’t budge from its hawkish stance is employment data. If the labor market suffers, the possibility of a 0.5% interest rate increase may still be exceeded
The Fed hiked rate based on CME data showing 61%
🔻 Fundamentally, there is nothing to effect on gold because the Fed said everything it had to say. US inflation and FED speak all priced on gold. According to our analytical analysis team, it is possible to trade the gold with US10Y in the short term.
🔻 If inflation continues, the Federal Reserve will reduce the rate of interest rate hikes
🔻 Friday’s inflation report is more important than Powell’s speech. Inflation is falling and gold should react positively.
🔻 Importante Supports: $1728, $1711 and $1700
🔻 Importante Resistance: $1754, $1765 and $1775
Consumer confidence, Job opening, ADP nonfarm Employment, Jobless claims, ISM PMI, NFP aug
A better than expected PMI, NFP, force on gold
we are watching these events. because any worse than expected released data could force FED decisions and could push up the gold. and every better than expect for data release pressure for gold. because of good job data and inflation, the FED hand is open to hiking the rate by more than 0.5%