XAU fell as investors took profits
traders price a more than 72% chance the Fed will cut interest rates by 25 basis points in September, up from 59% last week. Traders are also pricing in the growing possibility of a second interest rate cut in December.
Key US data points for the week include Fed Chairman Powell's speech to the US Congress on Tuesday and Wednesday. Consumer price index; producer prices on Thursday and Friday - will likely influence the central bank's interest rate outlook.
Elsewhere, in weekend news, a coalition of left-wing parties in France, known as the New Popular Front, won the most seats in the National Assembly election, according to initial predictions.
Key US data points for the week include Fed Chairman Powell's speech to the US Congress on Tuesday and Wednesday. Consumer price index; producer prices on Thursday and Friday - will likely influence the central bank's interest rate outlook.
Elsewhere, in weekend news, a coalition of left-wing parties in France, known as the New Popular Front, won the most seats in the National Assembly election, according to initial predictions.
Note
SELL XAU 2360 TP1L 2355
TP2: 2347
SL: 2368
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.