Falling Further?
This week opens with a quiet day on Monday, with just a few FOMC Members speaking throughout the day. These will be worth watching as we might see hints about potential interest rate changes in the near future. However that is actually about it for Monday!
Tuesday is indeed busier, we have the Fed Chair Powell speaking in the morning, where he will be discussing 'monetary policy influence' throughout the world. This will in-turn be a very volatile period and we could easily see the precious metal bounce around by upwards of $5 throughout the speech. Apart from this Tuesday isn't too busy, could be worth watching the Australian Annual Budget Release and New Zealand's' Inflation Report but I do doubt much consequence on Gold will be seen as a result of these.
We have another interesting day Wednesday, with a few releases worth watching and an event or so which could do some damage to the Gold market. The US Release their PPI m/m, showing a slight decline from last month in the forecast, if we do see some variation from the forecast we will see some decent movement in the yellow metal. Later in the evening New Zealand release their Official Cash Rate as well as their Monetary Policy Statements. If we do see their cash rate vary from forecast this could lead to some knock-on consequences on the Gold market so watch out!
Thursday is looking to be the busiest day of the week, with releases from two pretty influential countries. The UK have their BOE Inflation Report, MPC Official Bank Rate Votes, Monetary Policy Statement and their Official Bank Rate. These are important and any unexpected changes will cause big waves in the cable market which will in-turn influence the Gold market, so watch out! Later on the US have two Data releases, which are the: CPI m/m and Core CPI m/m. CPI forecast is showing a nice increase from last month, potentially 0.4%. Thursday could be an eventful day, Gold will shift, and might if releases don't go the right way fall below $1300?
Closing the week, Friday still has a few events worth watching, we have the: Canadian Employment Change and Unemployment Rate, as well as the ECB President Draghi speaking later in the day. These are all important events and could shift the commodities markets. The Canadian Employment change is showing a fairly big decline while the Employment Rate is expected to hold firm at 5.8%. Draghi speaking always produces some volatility in the forex markets and thus the commodities markets. Not expecting anything too crazy to happen to Gold but we shall find out!
Peace.
The Naive Trader.
Forex Factory, 2018.
Tuesday is indeed busier, we have the Fed Chair Powell speaking in the morning, where he will be discussing 'monetary policy influence' throughout the world. This will in-turn be a very volatile period and we could easily see the precious metal bounce around by upwards of $5 throughout the speech. Apart from this Tuesday isn't too busy, could be worth watching the Australian Annual Budget Release and New Zealand's' Inflation Report but I do doubt much consequence on Gold will be seen as a result of these.
We have another interesting day Wednesday, with a few releases worth watching and an event or so which could do some damage to the Gold market. The US Release their PPI m/m, showing a slight decline from last month in the forecast, if we do see some variation from the forecast we will see some decent movement in the yellow metal. Later in the evening New Zealand release their Official Cash Rate as well as their Monetary Policy Statements. If we do see their cash rate vary from forecast this could lead to some knock-on consequences on the Gold market so watch out!
Thursday is looking to be the busiest day of the week, with releases from two pretty influential countries. The UK have their BOE Inflation Report, MPC Official Bank Rate Votes, Monetary Policy Statement and their Official Bank Rate. These are important and any unexpected changes will cause big waves in the cable market which will in-turn influence the Gold market, so watch out! Later on the US have two Data releases, which are the: CPI m/m and Core CPI m/m. CPI forecast is showing a nice increase from last month, potentially 0.4%. Thursday could be an eventful day, Gold will shift, and might if releases don't go the right way fall below $1300?
Closing the week, Friday still has a few events worth watching, we have the: Canadian Employment Change and Unemployment Rate, as well as the ECB President Draghi speaking later in the day. These are all important events and could shift the commodities markets. The Canadian Employment change is showing a fairly big decline while the Employment Rate is expected to hold firm at 5.8%. Draghi speaking always produces some volatility in the forex markets and thus the commodities markets. Not expecting anything too crazy to happen to Gold but we shall find out!
Peace.
The Naive Trader.
Forex Factory, 2018.
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