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Market Sentiment- DXY and Gold
Abstract：Global market mood is also boosted by China's somewhat slower-than-expected inflation statistics and UK authorities working on a reversal of UK Prime Minister Truss' tax-cut proposal.
What Caused the Market's Surprising Intraday Reversal？ As previously said, market sentiment / posture was too negative / bearish. As a result, any comeback results in significant short covering/put selling.
And real-world inflation is way worse, probably at least double the intentionally-lowballed CPI. What kind of traders see red-hot inflation data and experience even faster-rising prices in their own lives, then think they should dump gold？ Those infuriating, hyper-leveraged, ultra-myopic gold futures speculators! While they have managed to temporarily distort gold prices this year, they will be wiped out as it quickly normalizes.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
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