Market participants are currently anticipating an additional 25 basis points increase in the Fed funds target rate by the central bank in July. However, the future trajectory of the rate hike remains uncertain and will depend on economic data.
According to CME's FedWatch tool, financial markets have priced in a 76.9% likelihood of the rate hike taking place in July.
This week, several important U.S. data releases are scheduled, including durable goods new orders, housing data, the Commerce Department's final assessment of first-quarter GDP, consumer surveys conducted by The Conference Board and University of Michigan, and the Friday report on Personal Consumption Expenditures (PCE). The PCE report is particularly crucial as it covers consumer income/outlays and, importantly, inflation.
XAUUSD
BUY 1923 - 1925 💯💯
✅ TP1: 1931
✅ TP2: 1936
✅ TP3: 1941
🛑 SL: 1916
According to CME's FedWatch tool, financial markets have priced in a 76.9% likelihood of the rate hike taking place in July.
This week, several important U.S. data releases are scheduled, including durable goods new orders, housing data, the Commerce Department's final assessment of first-quarter GDP, consumer surveys conducted by The Conference Board and University of Michigan, and the Friday report on Personal Consumption Expenditures (PCE). The PCE report is particularly crucial as it covers consumer income/outlays and, importantly, inflation.
XAUUSD
BUY 1923 - 1925 💯💯 ✅ TP1: 1931
✅ TP2: 1936
✅ TP3: 1941
🛑 SL: 1916
