On October 10th, 2024, the release of lower US Consumer Price Index (CPI) data is anticipated to have a significant impact on the gold price and the US dollar. …
Today’s given signal : https://t.me/calendarsignal/15492
The lower CPI data is expected to trigger a boost in gold prices, as investors look for a safe haven asset during times of economic uncertainty. Historically, gold has shown a tendency to increase in value when inflation pressures are low and the US dollar weakens.
In terms of the US dollar, the lower CPI data is likely to result in selling pressure from overbought levels. Overbought conditions refer to a situation where an asset has been rising for an extended period of time and is due for a retracement. In this case, the lower CPI data may serve as the catalyst for a pullback in the dollar, as investors reassess their expectations for inflation and interest rates.
Investors should be mindful of the potential impact on gold prices and the US dollar in the aftermath of lower CPI data. These developments could provide opportunities for traders and investors to capitalize on short-term price movements. However, it is important to conduct thorough research and analysis before making any investment decisions.
In summary, lower US CPI data on October 10th, 2024, is expected to boost gold prices while pressuring the US dollar. Investors should closely monitor these market dynamics and consider a strategy for capitalizing on potential price movements.
Previous released data results :
On last CPI data (11-9-2024) we predict to SELL XAUUSD as for higher CPI Data, XAUUSD price was fall.
Check the previous blog : https://blog.forextrade1.co/us-cpi-trends-analyzing-inflation-rates-the-effect-on-gold-price-11-9-2024/
Check last given signal : https://t.me/calendarsignal/15020
Performance : https://t.me/calendarsignal/15038
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