All eyes on Fed Chair Powell to testify before Congress today
Gold News:
🔆All eyes are on the US CPI report and Fed Chair Jerome Powell’s speech to Congress this week
🔆Last week’s jobs report showed continued signs of recovery in the labor market. A surprisingly lower unemployment rate, higher wages and an upward revision to December employment suggest the US labor market is closing out 2024 on solid footing.
🔆Recent data suggest the labor market has regained momentum. This suggests that risks have eased, so the Federal Open Market Committee (FOMC) will likely wait to see how first-quarter inflation data and economic policy play out before making further moves on the federal funds rate
🔆The CPI report due on February 12 is also important news as it is the Fed's preferred measure of inflation to adjust interest rates accordingly
Personal opinion:
🔆Fed Chairman Powell will likely act in a hawkish manner and not rush to cut interest rates while waiting to see if President Trump's tariff policies cause inflation to spike.
🔆However, the priority should be to assess the potential risks of tariffs on inflation and then monetary policy.
Technical analysis:
🔆Based on Fibonacci combined with Resistance - Support Zones and Trend Lines
Plan:
🔆Price Zone Setup:
👉Buy Gold 2888 -2886
❌SL: 2881 | ✅TP: 2892 - 2900 – 2910
👉Sell Gold 2955 -2957
❌SL: 2964 | ✅TP: 2950 - 2945 – 2935
Thank you for reading my comment: "FM"
🔆All eyes are on the US CPI report and Fed Chair Jerome Powell’s speech to Congress this week
🔆Last week’s jobs report showed continued signs of recovery in the labor market. A surprisingly lower unemployment rate, higher wages and an upward revision to December employment suggest the US labor market is closing out 2024 on solid footing.
🔆Recent data suggest the labor market has regained momentum. This suggests that risks have eased, so the Federal Open Market Committee (FOMC) will likely wait to see how first-quarter inflation data and economic policy play out before making further moves on the federal funds rate
🔆The CPI report due on February 12 is also important news as it is the Fed's preferred measure of inflation to adjust interest rates accordingly
Personal opinion:
🔆Fed Chairman Powell will likely act in a hawkish manner and not rush to cut interest rates while waiting to see if President Trump's tariff policies cause inflation to spike.
🔆However, the priority should be to assess the potential risks of tariffs on inflation and then monetary policy.
Technical analysis:
🔆Based on Fibonacci combined with Resistance - Support Zones and Trend Lines
Plan:
🔆Price Zone Setup:
👉Buy Gold 2888 -2886
❌SL: 2881 | ✅TP: 2892 - 2900 – 2910
👉Sell Gold 2955 -2957
❌SL: 2964 | ✅TP: 2950 - 2945 – 2935
Thank you for reading my comment: "FM"
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✅ t.me/+Y9T5_BwC7_JhMWM1
Join now !!!!
Channel: signals - knowledge and FOREX comments
Join now !!!!
Channel: signals - knowledge and FOREX comments
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.