GBP/USD Surges on Strong Inflation, Solidifying Expectations of June Rate Hike
The UK Consumer Price Index (CPI) remains steady at 8.7% YoY in May, while core inflation unexpectedly rises to 7.1% from 6.8%, indicating that inflationary pressures have not yet peaked. The surge is attributed to factors such as used car prices, recreation, and airline tickets, suggesting that inflation extends beyond food and fuel. This data […]
Gold Price (XAU/USD) Slips Below $1,960 as US Dollar Gains Strength
During the Asian session, the price of gold (XAU/USD) faced downward pressure and fell below the $1,960.00 level. This decline was driven by the US Dollar Index (DXY), which is aiming to reach a 10-week high of 104.00. The strength of the USD Index is primarily due to ongoing uncertainty surrounding US debt-ceiling negotiations between […]
Gold Price Outlook: What Lies Ahead?
The price of gold, a key indicator of market sentiment, is currently caught in the crosswinds of US retail sales data, Federal Reserve communications, and the ongoing debate over the US debt ceiling. Each of these factors is playing a crucial role in shaping the outlook for gold, as traders and investors alike navigate an […]
Gold Uptrend Hinges on Breaking Through Key Resistance Levels
For four of the past five days, gold has been testing the support of its short-term uptrend line, but each time it has been rejected to the upside around the line, according to a forecast by Bruce Powers on FXempire.com. Over the past five trading days, there has been a series of higher daily lows, […]
