XAUUSD: Tonight's news prediction!

Fed inflation may hinder Gold bulls' approach to 1,972.4

The price of gold remains stable at its highest point in four weeks after a streak of four consecutive wins, while investors anticipate important information on inflation from both the US and Eurozone. It is worth noting that recent negative data from the US has caused worries about the Federal Reserve's change in policy direction and has supported an increase in the XAU/USD price.

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Can scalp here when pennant pattern is created

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ECB Member Schnabel makes comments on interest rates and inflation

While participating in a conference in Frankfurt, European Central Bank member Isabel Schnabel said on Thursday: Although Eurozone growth is weaker than expected, this does not eliminate the need for further interest rate hikes.

She added that we cannot predict where the interest rate peak will be or when the European Central Bank will have to keep interest rates at restricted levels, noting that the outlook for the euro zone is still highly uncertain.

Therefore, the policymaker noted that although core inflation within the euro area has slowed, underlying price pressures remain stubbornly high.

European Central Bank member Joachim Nagel reported earlier this week that the ECB would maintain a data-driven approach to deciding on monetary policy steps.