Gold Price Forecast: XAU/USD to move higher if US data comes weaker than expected – TDS
Source Fxstreet
Gold (XAU/USD) closed at an all-time high on Friday. Economists at TD Securities analyze the yellow metal’s outlook for the week ahead.
Data from the US could trigger a big reaction in XAU/USD
February ISM services, payrolls, wages and unemployment data may well be catalysts for Gold to move higher if they come in significantly weaker than expected. Otherwise, much of the latest gains will likely be given back.
We suspect that data will be weaker, but not so poor as to drive yields much lower. As such, the market will have to wait for our $2,300+ trading target to manifest a while longer.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Bitcoin Price Trend Forecast: Continued ETF Outflows Limit Bitcoin Price Rebound Space, $58,000 Becomes Key Level for Bulls and Bears As of the European trading session on July 1, Bitcoin ( BTC) fluctuated around $58,700, hitting a new year-to-date low of $57,800 earlier in the day before recovering slightly, though it
As of the European trading session on July 1, Bitcoin ( BTC) fluctuated around $58,700, hitting a new year-to-date low of $57,800 earlier in the day before recovering slightly, though it
The USD/JPY pair builds on the previous day's breakout momentum and continues to scale new multi-decade highs through the Asian session on Wednesday.
As US-Iran talks and non-farm payrolls approach, Bitcoin's range-bound trend is set to break, with a potential drop to $50,000.On June 30, Bitcoin ( BTC) remained volatile near $60,000, u
June Non-Farm Payrolls Preview: Did White House Economic Advisor Give an Early Hint? How Will US Stocks, Dollar and Gold React? As June draws to a close, market attention is shifting to the upcoming U.S. June nonfarm payrolls report to be released this Thursday (July 2). This month's nonfarm payrolls data has been
As June draws to a close, market attention is shifting to the upcoming U.S. June nonfarm payrolls report to be released this Thursday (July 2). This month's nonfarm payrolls data has been
Japan’s Kihara: Always ready to take necessary action on forexJapan’s Chief Cabinet Secretary Minoru Kihara reiterated during a regularly scheduled press conference this Tuesday that officials he is always ready to take necessary action on forex. Kihara, however, refrained from commenting on specific forex level.
Japan’s Chief Cabinet Secretary Minoru Kihara reiterated during a regularly scheduled press conference this Tuesday that officials he is always ready to take necessary action on forex. Kihara, however, refrained from commenting on specific forex level.
Related Instrument
