Concerns about global inflation have made market players look for safe havens. Very optimistic USA monetary and fiscal policy, USD can be the main safe-haven choice besides gold. I see from the bigboys sentiment, they have started releasing gold contracts to switch to USD. This optimism will make gold tend to be bearish towards the support area.
This week is expected to be volatile for a range of USD pairs with a raft of high-importance data. A combination of consumer confidence, the latest FOMC rate decision, the first look at Q2 growth, and the Fed’s favored inflation reading, Core PCE , will provide a range of trading opportunities in the week ahead. If the released data is good, the market direction will tend to be bearish for XAUUSD.
Prices may be higher in the event of heated political-military conflicts or natural disasters.
This week is expected to be volatile for a range of USD pairs with a raft of high-importance data. A combination of consumer confidence, the latest FOMC rate decision, the first look at Q2 growth, and the Fed’s favored inflation reading, Core PCE , will provide a range of trading opportunities in the week ahead. If the released data is good, the market direction will tend to be bearish for XAUUSD.
Prices may be higher in the event of heated political-military conflicts or natural disasters.
