The market is eagerly awaiting Walmart’s earnings report to gain insights into consumer spending trends. After a rollercoaster week on Wall Street, this week offers fresh opportunities for insights!
Wednesday: Get the latest update on inflation with the Consumer Price Index (CPI) release.
Thursday: Watch for two key indicators of US consumer health: Retail Sales, Walmart (WMT) Earnings.
Gold prices rose by more than 1% to hit the highest since August 2nd, driven by safe-haven inflows as traders awaited U.S. inflation data this week that could shed more light on the Federal Reserve’s interest rate cut path.
The Gold-Dollar pair skyrocketed 1.8% in the last session. The ROC is giving a positive signal.
XAU/USD exploded 1.8% in the last session.
The ROC is giving a positive signal.
Support: 2423.621 | Resistance: 2435.621
Oil prices jumped by more than 3%, rising for a fifth consecutive session on expectations of a widening Middle Eastern conflict that could tighten global crude oil supplies.
The Oil-Dollar pair skyrocketed 3.7% in the last session. According to the CCI, we are in an overbought market.
WTI/USD skyrocketed 3.7% in the last session.
The CCI points to an overbought market.
Support: 76.7567 | Resistance: 77.4767
A week of wild market swings has investors looking ahead to inflation data, corporate earnings and presidential polls for signals that could soothe a recent outbreak of turbulence in U.S. stocks. U.S. stock volatility has surged this month as a run of alarming data coincided with the unwinding of a massive, yen-fueled carry trade to deal equities their worst selloff of the year.
USD was off a one-week high, capping off a turbulent week as traders digested a drop in U.S. jobless claims and the prospect of a looming economic downturn. USD was down against the Japanese yen following a three-day rebound, as firmer-than-expected employment data spurred a paring back in bets for Federal Reserve interest rate cuts later this year.
Gold prices held steady on Friday after a sharp rise in the previous session, bolstered by a dip in U.S. Treasury yields, as investors grew confident that the Federal Reserve would lower interest rates in September.
The Gold got a slight bump of 0.2% against the Dollar in the last session. The ROC is giving a positive signal.
The Gold-Dollar pair gained a moderate 0.2% in the last session.
The ROC is currently in positive territory.
Support: 2364.6447 | Resistance: 2458.8487
