predict the upcoming direction of xauusd August 25, 2023
World gold price this morning was stable with spot gold up 0.9 USD to 1,916.3 USD/ounce. Gold futures in December last traded at $1,948.1 per ounce, down $1 from dawn yesterday.
The gold market was quiet and did not react much to better-than-expected labor market data released on the evening of August 24 (Vietnam time). The recent US Labor Department report continues to show the resilience of the US labor market with the number of weekly jobless claims fell from 10,000 to 230,000, down from the revised estimate of the week. 240,000 applications before. The latest labor market data was better than expected. According to the consensus forecast, economists expect jobless claims to stay steady at around 239,000.
Currently, the market is waiting for the speech of the Chairman of the US Federal Reserve (Fed) Jerome Powell and President of the European Central Bank (ECB) Christine Lagarde at the annual Jackson Hole symposium that will take place. today (US time). The speeches are expected to provide insight into the future direction of monetary policy by central banks. The ECB is expected to pause the tightening cycle at its September meeting, while US interest rates are expected to remain high for a long time due to significant inflationary pressures.
The gold market was quiet and did not react much to better-than-expected labor market data released on the evening of August 24 (Vietnam time). The recent US Labor Department report continues to show the resilience of the US labor market with the number of weekly jobless claims fell from 10,000 to 230,000, down from the revised estimate of the week. 240,000 applications before. The latest labor market data was better than expected. According to the consensus forecast, economists expect jobless claims to stay steady at around 239,000.
Currently, the market is waiting for the speech of the Chairman of the US Federal Reserve (Fed) Jerome Powell and President of the European Central Bank (ECB) Christine Lagarde at the annual Jackson Hole symposium that will take place. today (US time). The speeches are expected to provide insight into the future direction of monetary policy by central banks. The ECB is expected to pause the tightening cycle at its September meeting, while US interest rates are expected to remain high for a long time due to significant inflationary pressures.
TP: 1920
TP: 1922
SL 1900