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XAUUSD (GOLD) 4 HOUR: 6 days in a row
4400 has now traded 6 days in a row as XAUUSD has been unable to shake a focus from it.
So stay on guard as a break of this pattern would have potential to signal a directional move.
Range over this period has been 4375-4435 with range outside of it at 4341-4442.
Forex Market Snapshot: Calm before the storm
Key events are finally here:
ECB: Will it be a dovish hike, no forward guidance data dependent hike or hawkish hike?
US PPI: Theta was a time when PPI would be ignored in favor of CPI but in the current time there is a hypersensitivity to all inflation data.
COMING UP: Data: German Final CPI (Aug), Norwegian CPI (Aug), Swedish GDP (Jul), US PPI (Aug), Jobless Claims (Sep/05), Existing Home Sales (Aug), Atlanta Fed GDP (Q3).
Events: ECB Announcement, CBRT Announcement, OPEC MOMR.
Speakers: US President Trump; BoJ’s Masu; ECB’s Lagarde. Supply: UK, Italy, US. Earnings: Oracle, Adobe.
Newsquawk US Market Wrap: Stocks hit as oil and yields climb
SNAPSHOT: Equities down, Treasuries down, Crude up, Dollar flat, Gold up.
How Interest Rates Affect Financial Markets and Traders
(Current: US yields slip back, 10 year 4.829%, USD follows, XAUUSD up, US stocks steady)
US PRE-MARKET MOVERS: AAPL, TTAN, GOOG, SIG, CHYM, DOW, EVMN, IRT/CSR
ES -0.4% NQ -0.6% RTY -0.6%
Bessent verbal intervention sent USDJPY lower but did not make a new low.
“I am the house now, so when we intervene with the Japanese yen, I have pretty good insight into what the Japanese, what the Bank of Japan is going to do, what Japanese policymakers are going to do,” Bessent said. “And you can bet against me if you want.”
How Interest Rates Affect Financial Markets and Traders
