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FX Recommends - XAUUSD Analysis

Discussion in 'Forex Discussions' started by fx-recommends, Jun 28, 2009.

  1. fx-recommends

    fx-recommends Content Contributor

    Aug 6, 2008
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    The gold is still under the pressure of the commodities and energy prices easing and the correction of the stocks market in the recent 2 weeks which downplayed the inflation upside risks. From another side, the recent US inflation data show that the inflation pressure is still tamed negatively impacted by the recessionary as May US CPI Index decreased by 1.3% y/y broadly and the core figure excluding the food and energy decreasing to 1.8% y/y could add pressure on the gold which is the mirror of the inflation as the market was waiting for a slide by just .9% after April slide by .7% broadly and was waiting for the core to be as the same as April at 1.9% and also May PCE came broadly yearly at just .1% from .4% in April and the core came at 1.8% and monthly the figure came broadly as the same as April at just .1% while the core came lower than the market forecast of .2% and lower than the .3% of April at just .1%. The gold came under strong pressure after sliding from 960 to be under further technical pressure to drove it down below 942.8$ to reach a new low at 912.8 after its previous low at 925.88 before rebounding to 948 but it could not close above 940 again.
    Best wishes

    FX Consultant
    Walid Salah El Din
    E-Mail: mail@fx-recommends.com

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