XAU/USD Climbing, USD Under Pressure
USD is under pressure after FED Chairman Powell Testifies yesterday, as market already predicted his hawkish tone.
He believes that current surge in Omicron infections will not have long term impact, and US economy is healthy enough for some monetary stimulus withdrawal.
source: reuters.com/business/feds-powell-heads-hill-hearing-with-inflation-focus-2022-01-11/
The recent cryptocurrency slip and an increase of the treasury yield may also have contributed to gold’s trend, as the potential for tightening monetary policy could be the reason markets moved towards lower-risk markets.
Precious metal price remains bullish ahead of US CPI data, another jump in the US CPI could attract more buyers to hold gold and against high inflation.
1st Resistance: 1834
2nd Resistance: 1848
1st Support: 1795
2nd Support: 1764
He believes that current surge in Omicron infections will not have long term impact, and US economy is healthy enough for some monetary stimulus withdrawal.
source: reuters.com/business/feds-powell-heads-hill-hearing-with-inflation-focus-2022-01-11/
The recent cryptocurrency slip and an increase of the treasury yield may also have contributed to gold’s trend, as the potential for tightening monetary policy could be the reason markets moved towards lower-risk markets.
Precious metal price remains bullish ahead of US CPI data, another jump in the US CPI could attract more buyers to hold gold and against high inflation.
1st Resistance: 1834
2nd Resistance: 1848
1st Support: 1795
2nd Support: 1764
Come join us today at : easymarkets.com/
Wyłączenie odpowiedzialności
Informacje i publikacje przygotowane przez TradingView lub jego użytkowników, prezentowane na tej stronie, nie stanowią rekomendacji ani porad handlowych, inwestycyjnych i finansowych i nie powinny być w ten sposób traktowane ani wykorzystywane. Więcej informacji na ten temat znajdziesz w naszym Regulaminie.
Come join us today at : easymarkets.com/
Wyłączenie odpowiedzialności
Informacje i publikacje przygotowane przez TradingView lub jego użytkowników, prezentowane na tej stronie, nie stanowią rekomendacji ani porad handlowych, inwestycyjnych i finansowych i nie powinny być w ten sposób traktowane ani wykorzystywane. Więcej informacji na ten temat znajdziesz w naszym Regulaminie.