Fed decision is coming!

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Another assassination attempt, this time it was not a light graze of the ear, but a successful sniper. On Tuesday, the top leader of Hamas, Haniyeh, was killed!

At that time, Haniyeh was attending the latest Iranian presidential employment ceremony. As a result, he was killed as soon as he appeared. Israel's beheading operation directly angered Hamas, and the geopolitical conflict escalated again.

This year, when Israel launched a raid on Gaza, it had already killed Haniyeh's three sons. This time, the father was also sniped.

At present, the White House of the United States has not made a statement. It is certain, but it is not good news for the two sides to reach a ceasefire to reduce geopolitical risks.

In addition, the Bank of Japan's policy committee today passed the decision to raise interest rates by 7 votes to 2. This time the interest rate was raised by 15 basis points, and the interest rate was raised to 0.15%~0.25%. It is planned to reduce the monthly bond purchase scale by 3 trillion yen from the first quarter of 2026.

Next, today's July ADP employment data for the United States, the small non-farm data is expected to remain the same as the previous value of 150,000. In the past, the number of ADP employment has declined for three consecutive months. If the number of employment continues to decline, the market will increase the possibility of a rate cut in September.

In fact, the heavy data is today's Federal Reserve interest rate decision and Powell's speech at the press conference. Regarding the rate cut from October last year to now, a full 10 months have passed. Whether Powell will reveal more about the plan for the September rate cut in his speech will directly affect the trend of gold in the future.

However, yesterday, gold was consolidated at 2385 for a long time, especially after repeated tests in the US market, it broke through the high point of 2397, which led to the original adjustment turning into an increase. The frequency of long and short conversions during this period is very high, and it is easy to keep up with the rhythm.

Gold, after two days of adjustment, did not continue downward, but broke upward with 2370 and 2385 as support points, especially last night, the US market rose to 2397, breaking through the upper track of the downward channel and closing at 2400 US dollars.

Then, today, the support position of 2403 was retested. This position is the top and bottom conversion formed by the high point of Monday morning. At present, it is used as support to continue to rise. After breaking through 2413 in the morning, it will step back to this position and continue to rise. First look at the previous high point of 2425-2430.

Today, gold Asia and Europe use 2403-00 as the dividing point, and then 2410-12 as the support area, and continue upward to the 2425-2430 area. The focus will be on the Fed's interest rate decision, and today's news will be the key.
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