Gold Steadies Near Record Highs—Can PCE Data Shift The Outlook?
is trading just under $3,400 as markets await Friday’s print. Could strong data derail expectations for a ?
Events. XAU/USD remains elevated, supported by expectations of Fed easing. Markets now price an 89% chance of a 25 bps cut in September.
Background. President Trump moved to dismiss Fed Governor Lisa Cook, though the decision faces legal pushback. Fed Chair Powell’s dovish tone at reinforced easing bets.
Possible outcome. data will be crucial. Hot inflation could derail September cut expectations, lift the , and pressure gold. Softer numbers would support current record levels.
Watch Friday’s PCE release—its outcome may decide whether gold keeps climbing or faces a pullback.
Euro Steadies—Can U.S. Data Spark a Move?
The euro hovered near 1.164 on Wednesday with no clear direction. With politics easing in France, will U.S. data decide the next move?
Events. remained unchanged in Asian and early European trading, holding inside the 1.1590–1.1770 range.
Background. France’s Prime Minister François Bayrou faces an 8 September confidence vote on budget cuts, but markets are less anxious about European politics after initial fears.
Possible outcome. U.S. and data could spark volatility across USD pairs and push EUR/USD out of its current range.
Traders should watch U.S. releases closely—surprises may break the 1.15900–1.17700 band.
USD/CAD Slides—Will U.S. GDP Data Add More Pressure?
USD/CAD dropped to 1.3780, marking a third straight day of losses. Could upcoming U.S. GDP numbers push it even lower?
Events. The pair weakened as the US dollar lost ground on Fed concerns, trading near 1.3780.
Background. President Trump removed Fed Governor Lisa Cook, increasing expectations of a September rate cut, now seen at 88%. At the same time, BoC Governor Macklem reaffirmed the 2% target.
Possible outcome. If today’s U.S. GDP release disappoints, it could increase bets on aggressive Fed easing and send USD/CAD lower.
Watch the GDP print—weak growth may drag the dollar down further.