Gold Price Forecast: Gold Breaks Down to Key Support – CPI on Deck
Gold prices have slid to 10-month lows and this week brings CPI out of the United States. Can sellers force another break to the $1680 level?
Gold prices have slid to 10-month lows and this week brings CPI out of the United States. Can sellers force another break to the $1680 level?
USD/CAD may continue to give back the advance from the monthly low (1.2837) as it appears to be reversing course ahead of the yearly high (1.3083).
Aggressive rate hikes are around the corner for each of the commodity currency central banks.
U.S. stocks fall Wednesday as worse-than-expected inflation data raises the likelihood of more aggressive monetary policy tightening by the Federal Reserve in the coming months.
None of the major EUR-crosses suggest that the lows are in just yet.
A strong USD has been driving Emerging Market currencies lower as investors anticipate another aggressive rate hike in July. USD/ZAR, USD/TRY test critical resistance.
Red hot US inflation numbers to embolden Fed Hawks, drags markets lower.
The Euro gave up some ground today as news emerged that further restrictions are likely for China while Japan appear to have the green light for super loose monetary policy.
The Bank of Canada raised it’s benchmark borrowing rate by 1.00%, taking the policy rate to 2.50%.
It is not over yet for the decline in US Indices and the Russell is no exception. Further downside is expected within the bearish sequence it is unfolding in.