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Gold prices fell due to a stronger dollar and end-of-quarter flows, despite being on track for the best quarter since Q1 2016. The market is awaiting US jobs data on Friday, which could impact rate cut expectations and the US dollar. Gold remains extremely overbought at present, will the NFP report inspire a deeper correction? […]

The post Gold (XAU/USD) Prices Slide as Q3 Draws to a Close appeared first on Action Forex.

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11/09/2024

US: Higher Shelter Costs Drive Unexpected Gain in Core Inflation in August 

The Consumer Price Index (CPI) rose 0.2% month-on-month (m/m) in August, bang-on the consensus forecast. On a twelve-month basis, CPI fell to 2.5% (from 2.9% in July). Energy prices (-0.8% m/m) were a drag on headline inflation, with both energy commodities and energy services lower on month. Food prices remained largely subdued, rising 0.1% m/m […]
17/08/2024

The Weekly Bottom Line

U.S. Highlights The July report for the Consumer Price Index showed headline inflation fell below 3% for the first time since March 2021. U.S. retail sales surpassed expectations in July, rising 1.0% month-on-month. Federal Reserve Chair Jerome Powell’s remarks during next week’s Jackson Hole Symposium will headline the week. Canadian Highlights Bad news for Canada’s […]
20/06/2024

Swiss National Bank, Norges Bank and Bank of England Will Decide on Monetary Policy

Markets EMU and UK markets yesterday had to develop their own dynamics with no guidance from the US (markets closed for the Juneteenth holiday). The European Commission activated the ‘excessive deficit procedure’ for 7 member states to rectify persistent budgetary slippage. In a separate study on its website, the ECB also published an in extenso […]