XAUUSD-Gold trading strategy, expected to be hotter from the Fed
The market is waiting for information about the annual Fed meeting in Jackson Hole, Wyoming later this week. Fed Chair Jerome Powell and Central European Bank President Christine Lagarde will deliver speeches.
After 11 consecutive interest rate hikes since March 2022, according to the CME Watch tool, the Fed will pause rate hikes at its next September meeting. Show this ratio of the school up to more than 86%.
Since March 2022, the Fed has raised interest rates 11 times to reach its 2% target. The US reference yield is currently around 5.25-5.5%, the highest since 2001.
US inflation fell by two thirds from 9.1% to 3.2% in July. The labor market is still good, unemployment is low, Americans are still increasing consumer spending.
Long-term high gains should support the USD, making gold prices subject to more pressure.
Technical analyst Wang Tao said that gold prices are likely to continue to rise and fluctuate in the range of 1,928-1,934 USD/ounce.
After 11 consecutive interest rate hikes since March 2022, according to the CME Watch tool, the Fed will pause rate hikes at its next September meeting. Show this ratio of the school up to more than 86%.
Since March 2022, the Fed has raised interest rates 11 times to reach its 2% target. The US reference yield is currently around 5.25-5.5%, the highest since 2001.
US inflation fell by two thirds from 9.1% to 3.2% in July. The labor market is still good, unemployment is low, Americans are still increasing consumer spending.
Long-term high gains should support the USD, making gold prices subject to more pressure.
Technical analyst Wang Tao said that gold prices are likely to continue to rise and fluctuate in the range of 1,928-1,934 USD/ounce.
Comment:
HIT TP1 + 90Pips ✅✅
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✅ TP1: 1918
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