XAU continued to decline after the minutes of the latest FED
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XAU price continued to decline as investors took profits after the latest meeting minutes of the US Federal Reserve (Fed) showed that interest rates will stay higher for a longer period of time.
After the release of minutes from the Federal Open Market Committee (FOMC) meeting, the Fed's decision-making arm, revealed that, although policymakers expected price pressures to eventually ease, But they have not fallen fast enough to warrant a cut to the federal funds rate target range, which will remain at 5.25% - 5.50% “at least through September.”
The market is paying close attention to the labor market, which remains an important factor for the Fed's monetary policy. Economists note that a tightening labor market will push wage inflation higher, which will increase consumer prices overall.
After the release of minutes from the Federal Open Market Committee (FOMC) meeting, the Fed's decision-making arm, revealed that, although policymakers expected price pressures to eventually ease, But they have not fallen fast enough to warrant a cut to the federal funds rate target range, which will remain at 5.25% - 5.50% “at least through September.”
The market is paying close attention to the labor market, which remains an important factor for the Fed's monetary policy. Economists note that a tightening labor market will push wage inflation higher, which will increase consumer prices overall.
Note
BUY XAU 2329 - 2327TP1: 2336
TP2: 2342
SL: 2322
Note
+ 130 pipsNote
Hit TP2
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