KVB Market Analysis | 5 August: Gold Declines in Early Asian Session Amid Profit-Taking and Market Uncertainty
Gold declined in the early Asian session due to profit-taking after hitting a record high on Friday. The US NFP report showed only 117K new jobs in July, below the expected 175K, signaling a potential increase for XAU/USD. Annual wage growth slowed to 3.7%, easing inflation fears and boosting Fed rate-cut prospects. Rising tensions between Iran and Israel have also increased gold’s safe-haven appeal.
XAU/USD Post-CPI Data Analysis
Gold prices surged post-CPI data, hitting a third consecutive weekly gain and surpassing $2,400, driven by expectations of Fed rate cuts. Positive sentiment and global economic uncertainty boost gold's appeal as a safe haven. Despite minor pullbacks, the overall trend remains bullish with short-term volatility anticipated.
【MACRO Insight】The Crossroads of the American Economy——Inflation, Employment, and the Fed’s Policy Choices
The dynamics of the U.S. economy and labor market, as well as changes in inflation expectations, have profound implications for Federal Reserve policy decisions. Market participants are closely monitoring upcoming economic data releases and statements from Fed officials to capture signals of policy direction. Against this backdrop, investors need to prepare for potential market fluctuations and closely watch the Fed's next steps. Meanwhile, trends in housing prices, changes in core CPI, and the
Eye on the Horizon: Market Anticipate Inflation Data Ahead
The Producer Price Index, which is an important gauge of wholesale-level inflation, increased by 2.1% over the 12 months leading up to March. This marks a rise from the 1.6% gain observed in February, representing its most substantial increase since April 2023. In March, consumer prices in the U.S. rose beyond expectations as consumer price index increases 0.4% in March, driven by higher costs for gasoline and rental housing. In March, U.S. retail sales surpassed expectations, with Core Retail..
Fed Faces Inflation Heat: What's Next for FOMC？
In February, retail sales in Australia saw a slight increase, fueled by heightened spending on clothing and dining out, likely spurred by popular Taylor Swift concerts drawing crowds. The U.S private sector employment increased by 184,000 jobs in March and annual pay was up 5.1 percent year-over-year. It was the largest addition since July and higher than the expected reading of 148k new private jobs with the biggest increases for job changers were in construction, financial services and...
How Global Events Affect the Forex Market
Stay ahead with our latest analysis on how world events impact the Forex market. Read now for unique insights geared to help you make better trading decisions.
BoE Cuts Growth Outlook, Sterling (GBP) Unmoved
BoE unanimously keeps rates at 0.75% as Brexit uncertainty continues to devaluate the pound and adjusts forward guidance to acknowledge the slump in global growth.
Mixed Eurozone Data Keeps EURUSD Subdued, Focus on Fed Chair Powells Speech
The EURUSD was pushing higher at the end of Mondays session but reversed some of the gains in anticipation of Eurozone inflation and unemployment figures released this morning. A mixed reading kept the pair subdued around the 1.1246 handle.
USDNOK Drops as Norges Bank says Rates Will Likely Rise in June
The Norwegian Krone is strengthening after Norways central bank left interest rates unchanged but said its policy rate will most likely be increased next month.
GBPUSD Price Limited as BOE Remains Sidelined by Latest Brexit News
The latest Brexit developments are in control of the British Pound, leaving the Bank of England sidelined.