Gold Price Forecast: XAU/USD bears are in play with eyes on Fed's Powell and NFP Gold Fed Currencies Commodities
Eyes are on Fed's chair Jerome Powell and NFP this week.
San Francisco Fed President Mary Daly on Saturday said rates would have to go up but set a high bar for moving to half-point increases. Meanwhile, futures imply a 72% chance the Fed will go by 25 basis points at its meeting on March 22 and this is where Powell's comments will be important when he is quizzed on whether larger hikes are needed.
However, analysts at ANZ Bank have argued that recent jobs and inflation data do not support the thesis that interest rates are restrictive and they said ''it will be important to scrutinize the next round of hard data, starting with non-farm payrolls this Friday.'' If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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