As the session closed, gold hovered near a recent 1-month high, after unsurprising US inflation data and lower employment also raised expectations that the Federal Reserve The Federal Reserve will continue to keep interest rates unchanged this year. US gold futures also fell 0.4 percent to $1,965.90.
Data on US inflation, measured by the PCE index, increased by only 0.2% last month, similar to the increase in June. Accordingly, the PCE index in July increased by 3.3%, higher than the level of 3.0% in June. In the consumer sector, which accounts for more than two-thirds of US economic activity, has shown signs. good growth in July. Besides, the number of weekly jobless claims also decreased by 4,000 to 228,000.
Data on US inflation, measured by the PCE index, increased by only 0.2% last month, similar to the increase in June. Accordingly, the PCE index in July increased by 3.3%, higher than the level of 3.0% in June. In the consumer sector, which accounts for more than two-thirds of US economic activity, has shown signs. good growth in July. Besides, the number of weekly jobless claims also decreased by 4,000 to 228,000.
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Master from the Fed: The labor market is still strong but is on its way to a better balance
Master: Inflation is still very high, but I see progress in reducing price pressures
Master: Inflation is still very high, but I see progress in reducing price pressures
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➡️The dollar fell in cautious trading as investors assessed the US jobs data, which included signs of slowdown, which reinforced expectations that the US Federal Reserve has probably reached the end of the monetary tightening cycle.
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ECB President Lagarde: At a time when people are paying the most attention, central banks must deliver their key communications to ensure these expectations remain firmly anchored.
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