US GDP rose a high rate of 2.8%, double the previous release's 1.4%. Previously, economists predicted GDP growth of 2.0%. On the other hand, US Unemployment Claims data also fell by 235k from the previous 245k leads to a strengthening of the USD, previously economists predicted Unemployment Claims of 237K Gold is still under pressure, but the bears have entered the oversold zone, looking for a reversal.
Today there is the release of US CB consumer confidence and new job opening economic data, USDJPY is consolidating after falling, and this week there is the release of the BoJ rate and the Fed Rate, but both are expected to be unchanged.
Silver soared to the price level of 29, RSI is almost approaching the overbought zone, today we are waiting for US inflation data to continue the previous series of economic data.
Silver prices corrected down ahead of waiting for today's NFP data release. The Fed rate remains unchanged at 5.50%, US economic data tends to be negative on the USD, but technically the price moves below the 200 MA.
It seems that demand for safe-haven currencies such as CHF and JPY has increased, these currencies have strengthened against the USD. Today investors will probably pay attention to ISM Services PMI data which is expected to rise to 51.4 from the previous revision of 48.8.
Yesterday the US Final Services PMI data showed the actual value of 55.0 from the expected 56.0 from the previous revision of 56.0. However, the ISM Services PMI showed a value of 51.4 from the expected 51.1 from the previous revision of 48.8.
Mixed economic news has caused the USD to strengthen against the JPY.
Market changes are very dynamic, after the fall USDJPY consolidated with movement in the range. There is no high-impact news today, regarding JPY there is low-impact leading indicator news which reads a combination of 11 economic indicators employment, production, new orders, consumer confidence, housing, stock prices, money supply, and interest rate spreads.
Today is important economic data related to NZDUSD, yesterday New Zealand economic data supports the strengthening of NZD, today important news from the New Zealand central bank is inflation expectations, this is the inflation target to be achieved in real terms.
New Zealand jobs data indicating economic improvement, higher employment changes, and lower unemployment claims brought inflation expectations to 2.03% from the previous 2.33%.
On Monday there was no news on the important economic calendar, but gold may still get positive sentiment from expectations of the Fed cutting interest rates in September. Gold prices had fallen but are trying to rise again.
