The US Federal Reserve (Fed) decided to keep interest rates unch
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The US Federal Reserve (Fed) decided to keep interest rates unchanged
The Fed's main message is that inflation remains high and a tightening policy stance needs to be maintained for a while longer. This means that the USD is still at a high level, reducing excitement in the gold market.
Markets will shift their focus to Europe this week as the Swiss National Bank and the Bank of England will both announce their monetary policy decisions on Thursday morning.
The market will also get the Empire State manufacturing index on Monday and retail sales for May on Tuesday. Then Thursday brings housing starts and building permits for May, as well as weekly jobless claims and the Philly Fed manufacturing index. The week's data ended with existing home sales Friday morning.
The Fed's main message is that inflation remains high and a tightening policy stance needs to be maintained for a while longer. This means that the USD is still at a high level, reducing excitement in the gold market.
Markets will shift their focus to Europe this week as the Swiss National Bank and the Bank of England will both announce their monetary policy decisions on Thursday morning.
The market will also get the Empire State manufacturing index on Monday and retail sales for May on Tuesday. Then Thursday brings housing starts and building permits for May, as well as weekly jobless claims and the Philly Fed manufacturing index. The week's data ended with existing home sales Friday morning.
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