Gold lost more than 1% during the second phase of Wednesday's session after CPI data from the U.S. showed that inflationary pressures in the U.S. are not falling as fast as many would like. The U.S. consumer price index rose 0.2% last month, following a 0.1% decline in June. In the 12 months through July, the CPI rose 2.9%, after rising 3% in June.
Markets now see a 41% chance that the Fed will cut interest rates by 50 basis points in September, compared with 50% before the release. The market is taking a more cautious stance, which is further supported by recent hawkish comments from Fed bankers. Atlanta Fed President Raphael Bostic said yesterday that he personally would like to see “a little more data” before he is ready to support an interest rate cut.
إبدأ بالإستثمار اليوم أو تدرّب على حساب تجريبي
إنشاء حساب حساب تجريبي تحميل تطبيق الجوال تحميل تطبيق الجوال
Gold is losing 1% today, but still maintains a dynamic uptrend. The most important support point for bullion remains the 50-day EMA (blue curve on the chart).
Source: xStation
