Gold 11 May

2023年5月11日Today we have PPI and Jobless claims.
As you know PPI measures the average change over time in the prices domestic producers receive for their output. This is a measure of inflation that is complied from thousands of indexes measuring producer prices by industry and product category.
If PPI data comes lower Gold should go up since its deflationary But if PPI data comes higher Gold should go down since its inflationary.
As you know Jobless claims are statistics reported weekly by the U.S. Department of Labor that counts people filing to receiving unemployment insurance benefits. There are two categories of jobless claims: initial, which comprises people filing for the first time, and continuing, which consists of unemployed people who have already been receiving unemployment benefits.
If Jobless claims data is higher Gold should go up cause its deflationary But if Jobless claims is lower Gold should go down since its inflationary.
After this CPI if the data stay strong again in May there is every a chance the FOMC will have to revise up its GDP and inflation projections and take down its unemployment forecast of 4.5% for Q4 this year.
Group of Seven (G7) finance leaders on Thursday open three days of meetings in Japan and will seek to diversify supply chains away from China, but also try to get Beijing's cooperation in solving global debt problems.
Enjoy todays day and if yesterday or today its not profitable, dont worry, tomorrow will be better.