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XAUUSD: What happens next week?
Atualizado
Fundamental analysis:
Gold's range is quite wide, in another development, this is a large compression area before gold breaks out and does something you can't believe.
Market influence:
The uncertainty surrounding the Federal Reserve's plans for interest rate hikes is viewed as a significant factor supporting the non-yielding Gold price. However, it is still difficult to predict any significant upward movement in price. Thursday's underwhelming macroeconomic data from the United States has raised concerns about the Fed's ability to continue raising rates, leading to speculation that the current tightening cycle may be coming to an end.
Despite this, the Fed has indicated earlier this week that borrowing costs may still need to increase by up to 50 basis points by the end of the year. This, combined with a slight increase in US Treasury bond yields, has helped the US Dollar make a modest recovery from its lowest point in over a month on Friday. A modest strengthening of the USD may discourage traders from making bullish bets on Gold, which is priced in US Dollars.
Based on an overview of technical analysis and the political economy, gold is expected to continue to decline
Gold's range is quite wide, in another development, this is a large compression area before gold breaks out and does something you can't believe.
Market influence:
The uncertainty surrounding the Federal Reserve's plans for interest rate hikes is viewed as a significant factor supporting the non-yielding Gold price. However, it is still difficult to predict any significant upward movement in price. Thursday's underwhelming macroeconomic data from the United States has raised concerns about the Fed's ability to continue raising rates, leading to speculation that the current tightening cycle may be coming to an end.
Despite this, the Fed has indicated earlier this week that borrowing costs may still need to increase by up to 50 basis points by the end of the year. This, combined with a slight increase in US Treasury bond yields, has helped the US Dollar make a modest recovery from its lowest point in over a month on Friday. A modest strengthening of the USD may discourage traders from making bullish bets on Gold, which is priced in US Dollars.
Based on an overview of technical analysis and the political economy, gold is expected to continue to decline
Trade ativo
Russian President Vladimir Putin said that the decisions to cut oil production taken by the OPEC Plus coalition are "non-politicized".Trade ativo
▪️US Federal Reserve member Christopher Waller indicated today at a conference in Oslo, Norway, that he does not support changing monetary policy due to concerns of inefficient management in a few banks.▪️Although the Fed pays attention to financial pressures in the banking sector when making monetary policy decisions, Waller stressed that the central bank's main focus remains on fulfilling its dual mandate, which currently requires raising interest rates.
Trade ativo
Goldman Sachs has joined a growing list of Wall Street banks that have lowered their forecasts for growth in China in 2023. The investment bank now expects China's GDP to grow 5.4% this year, down from its previous forecast of 6%.Goldman Sachs cited a number of factors for lowering its forecast, including ongoing COVID-19 lockdowns, a slowdown in the real estate market, and a rising cost of living. The bank also noted that Beijing has limited options for boosting stimulus, as it is already facing a debt crisis.
Trade ativo
The Polish National Bank bought a total of 34 tons of gold in April and May.
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