Gold xauusd trend today.
1) Consumer Product Index (CPI) is high, lead to high inflation, supposely for US dollar to drop however due FED increase interest rate would help to stabilise price thus strengthening US dollar through their monetary policy.
2) Core Consumer Product Index (CCPI) is high, lead to high inflation, supposely for US dollar to drop however due FED increase interest rate would help to stabilise price thus strengthening US dollar through their monetary policy.
3) FED is looking to increase the interest rate by 75 bps.
XAUUSD: News from Investing.com
1) The update to the US Consumer Price Index (CPI) may curb the recent advance in the price of gold even though the headline reading is expected to narrow in July as the core rate of inflation is anticipated to increase to 6.1% from 7.9% per annum in June.
2) Combined with last week’s NFP report, the Fed is expected to hike interest rates by another 75 basis points at the next Fed meeting in September, although there will be another report before the next Federal Reserve meeting. Nevertheless, officials to pay close attention to core inflation this time around. ”A continuation of recent trends would be unwelcomed and likely tilt the Fed toward another substantive rate increase at the 20‑21 September FOMC meeting,” analysts at ANZ Bank said.
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Source : Investing.com and forexfactory.com