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🎉 Fed Chair Powell’s Statement

  • Jerome Powell, the Chair of the Federal Reserve, delivered an important speech last night. He emphasized that the central bank will continue to implement a tightening policy to control inflation, despite signs of a decrease in July.
  • He pointed out that the labor market remains imbalanced and that the decision on interest rates for September will be based on the latest economic data.
  • Regarding interest rate outlook, Powell indicated that the Fed is likely to implement two rate cuts this year, each by 0.25 percentage points, rather than applying a single cut of 0.5 percentage points.
  • After the speech, the USD weakened but quickly recovered. Analysts believe that a 50 basis point rate cut in November remains possible, but Powell’s remarks are unlikely to significantly change the current market outlook.

📈 ISM Manufacturing PMI

  • Above 50: If the ISM Manufacturing PMI is published above 50, indicating expansion in the manufacturing sector, it could bolster confidence in the economy, reduce demand for gold, and strengthen the USD.
  • Below 50: Conversely, if it falls below 50, it may raise concerns about the health of the economy, increasing demand for gold and potentially weakening the USD.

👷‍♂️ JOLTS Employment Data

  • Job Growth: An increase in JOLTS data could lead to a reduction in the unemployment rate and boost consumer confidence, strengthening the USD and potentially reducing demand for gold.
  • Job Losses: If the data shows a decrease in jobs, it may undermine confidence in the economy, leading to a rise in gold prices as a safe investment choice.

💲 ISM Producer Prices

  • Above 50: If this index is high, it may indicate that the Fed will continue to tighten monetary policy, which would increase the value of the USD and potentially negatively affect gold prices.
  • Below 50: If it falls below 50, it could indicate decreasing price pressures, leading to the possibility of the Fed maintaining interest rates or cutting them in the future, which could boost gold prices.

=> Investors need to closely monitor developments today to continue making informed investment decisions, ensuring they optimize opportunities in a volatile economic environment.

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