XAUUSD will break the 2000 mark based on the USD data - 15-2-2024

Based on today’s disappointing core retail sales data and higher jobless claims data, along with bearish Philadelphia Fed data, it appears that the XAUUSD pair will breakout and surpass the 2000 mark. The release of these indicators has triggered significant market movements, indicating a potential shift in the currency dynamics.

Today’s given signal : https://t.me/calendarsignal/10535

Today’s Bad Core Retail Sales Data

The U.S. Department of Commerce recently released the monthly Core Retail Sales report, which serves as an indicator of consumer spending and economic activity. However, the report revealed disappointing results, falling short of expectations. The weakness in consumer spending suggests that the U.S. economy is not as strong as previously thought, which weighs heavily on the USD’s value.

Higher Jobless Claims Data

Another piece of data that has influenced the XAUUSD pair is the higher jobless claims data. The number of individuals filing for unemployment benefits has increased, indicating rising unemployment levels. This data point further weakens the USD’s position as investors weigh its impact on the overall economic stability.

Bearish Philadelphia Fed Data

Lastly, the Philadelphia Fed Manufacturing Index, a key gauge of manufacturing activity, has also turned bearish. The index measures the diffusion index of manufacturing conditions, providing a gauge of economic activity. A decline in the index suggests that manufacturing activity has weakened, which weighs on the USD and supports the bullish case for the XAUUSD pair.

Based on the combination of these indicators, it appears that there is a high likelihood that the XAUUSD pair will break the 2000 mark. The bearish sentiment surrounding the USD and the weak economic data have contributed to this breakout potential. Investors and traders should closely monitor these developments and make informed decisions based on the evolving market dynamics.

Previous released data results :