Gold Price Forecast: XAU/USD downside is slowing as price corrects from fresh lows – by fx_ross Gold Commodities Fed DollarIndex
Chair Powell's remarks will likely be ''a key avenue for the Fed to push back against the notable easing in financial conditions sparked by his last remarks, which has seen markets price-in rate cuts immediately following the rate hiking cycle, and is likely to be inconsistent with the Fed's inflation mandate,'' as analysts at TD Securities explained.
Daly's rhetoric kicked up the dust and sent the US dollar higher by 0.12% on the day at 106.78 which has since gone parabolic to print a 108.285 in Tokyo's opening hour. US bond yields continue to rise, taking a lead from the selloff in Europe, and the curve steepened. 2-year government bond yields rose from 3.23% to 3.24% via 3.29%, and 10-year government bond yields rose from 2.90% to 2.97%.
Meanwhile, in data ahead of the Jackson Hole, Core PCE will be important. Prices likely slowed sharply in July and to an even slower pace than the core CPI , analysts at TD Securities said. Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements.
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