XAU/USD: Citi Sees 50bp Rate Cut After NFP
XAU/USD: Citi Sees 50bp Rate Cut After NFP
Citi anticipates the upcoming Non-Farm Payroll (NFP) report will show 125,000 new jobs, leading to a 50-basis point rate cut by the Federal Reserve.
Citi suggested in a note to Clients on Tuesday that if payrolls come in between 125,000 - 175,000, a 50-basis point rate cut is likely from the Fed.
The 4H chart for XAU/USD indicates that buyers may be stepping in on dips following the release of US JOLTs Job Openings data, which revealed fewer openings than expected in July. However, if Gold continues to weaken, the next likely support level is around $2,470-$2,460. A decisive break below this support level could alter the outlook for Gold, indicating that the commodity could be entering a more pronounced downtrend.
Citi anticipates the upcoming Non-Farm Payroll (NFP) report will show 125,000 new jobs, leading to a 50-basis point rate cut by the Federal Reserve.
Citi suggested in a note to Clients on Tuesday that if payrolls come in between 125,000 - 175,000, a 50-basis point rate cut is likely from the Fed.
The 4H chart for XAU/USD indicates that buyers may be stepping in on dips following the release of US JOLTs Job Openings data, which revealed fewer openings than expected in July. However, if Gold continues to weaken, the next likely support level is around $2,470-$2,460. A decisive break below this support level could alter the outlook for Gold, indicating that the commodity could be entering a more pronounced downtrend.
Import the BlackBull Markets Economic Calendar:
blackbull.com/en/economic-calendar/?utm_source=tradingview
Free TradingView Premium with BlackBull Markets: blackbull.com/en/platforms/tradingview/?utm_source=tradingview
blackbull.com/en/economic-calendar/?utm_source=tradingview
Free TradingView Premium with BlackBull Markets: blackbull.com/en/platforms/tradingview/?utm_source=tradingview
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.