Investors were anticipating the upcoming release of the U.S. inflation data scheduled for Thursday. This data has the potential to offer insights into whether the Federal Reserve will opt for another interest rate increase in September.
According to a survey conducted by the Wall Street Journal, economists are projecting a 0.2% rise in consumer prices for July, matching the 0.2% increase observed in June. The June figures fell below economists' expectations, sparking optimism that the Federal Reserve might expedite the conclusion of its interest rate hike campaign.
Rupert Rowling, a market analyst at Kinesis Money, remarked in an email commentary, "The latest U.S. inflation data is slated for release tomorrow. This data point will hold significant importance for the Federal Reserve's upcoming committee meeting. It will determine whether the central bank should persist with raising interest rates or consider the possibility that inflation has started to follow a declining trajectory, thereby justifying a pause in rate adjustments."
GOLD
BUY 1916 -1918💯💯
✅ TP1: 1922
✅ TP2: 1927
🛑 SL: 1912
According to a survey conducted by the Wall Street Journal, economists are projecting a 0.2% rise in consumer prices for July, matching the 0.2% increase observed in June. The June figures fell below economists' expectations, sparking optimism that the Federal Reserve might expedite the conclusion of its interest rate hike campaign.
Rupert Rowling, a market analyst at Kinesis Money, remarked in an email commentary, "The latest U.S. inflation data is slated for release tomorrow. This data point will hold significant importance for the Federal Reserve's upcoming committee meeting. It will determine whether the central bank should persist with raising interest rates or consider the possibility that inflation has started to follow a declining trajectory, thereby justifying a pause in rate adjustments."
GOLD
BUY 1916 -1918💯💯 ✅ TP1: 1922
✅ TP2: 1927
🛑 SL: 1912
