What’s happening in the markets?
Exness has put together some of the most important news and events that may affect your trades in the near term.
Another inflation indicator was down, will gold weaken further?
There was the US PPI announcement yesterday, and the number ticked down.
The release shook the market a lot and created volatility.
The data may emphasise on potentially less hawkish Fed.
From a technical perspective, the price has reached its first target price, which may hinder its continuation.
If the price can significantly break above USD1,780-1790 per troy ounce, the price may continue to its Double Bottom target at around USD1,830-1,860 per troy ounce.
On the contrary, if the market chooses to retrace first, the price may retrace to USD1,740-1,750 per troy ounce.
Exness will continue to keep you informed about current market trends and the drivers behind them. Stay tuned for more updates in the future.