Gold prices are steady in the price area near resistance, on the other hand BTCUSD has fallen again to around $62k, USDCAD is still extending its decline. Today's news awaits CB Consumer Confidence for USD.
EURUSD yesterday fell for two days in a row, a sharp correction from a high of 1.1846 to a low of 1.10554 in two days. Today's market focuses on US PCE data which is an important inflation indicator for the Fed.
Today the market may not be as volatile as at the beginning of the week, but this week it is predicted that the market will be more volatile due to several high-impact news such as NFP, job data, and unemployment. However, European inflation data is worth paying attention to.
Today's market movements are expected to be more interesting, there is some important news that might drive the market which might increase trading volume. Swiss CPI data for CHf traders and US manufacturing PMI for USD traders. This may have an impact that could spread to gold.
The market is very dynamic, and easy to change, price waves that are now rising, maybe a few minutes later they can fall, stop loss risk management is always ready to mitigate risk. Today's high-impact news is US Job data. However, seeing that CHFJPY is technically in the support zone.
The market is moving dynamically, US job data shows actual data is lower than expected, USD is weakening, and today we are waiting for the ADP Non-Farm Employment Change which may be a clue to Friday's NFP.
Today waiting for NFP, yesterday's ADP report data was much lower than forecast, but the unemployment claims data eased tensions somewhat. The Fed is expected to cut interest rates this month.
Gold prices fell last week because NFP data was lower than expected, even though it fell below $2500, gold still has bright potential waiting for the Fed to cut interest rates in mid-September this month. Today USDJPY rose again after falling last weekend after the NFP release.
Last Monday trading positions were floating, there was no important economic data that moved the market. Gold is trying to rebound after falling last week to around $2495.
Today we are waiting for news on CPI data for the US Dollar, expected to be 0.2%, the same as the previous revision of 0.2%. Yesterday's gold price rose, and the USDJPY trading position was finally closed with a profit after fluctuating.
