On September 13 (Tuesday) this trading day, gold continued to fluctuate and fell in intraday trading, and it is now holding above the $1,720/oz mark, with gold prices focusing on $1,715-1,720/oz in the short-term.
The New York Fed’s monthly survey of consumer expectations showed U.S. consumers’ inflation expectations slipped further in August as gasoline prices continued to fall sharply from June’s record highs, a development that could provide some comfort to Fed officials, who have been Fears of inflation at 40-year highs could change consumers’ perceptions of the stickiness of current price shocks.
The euro climbed to a more than three-week high of 1.0197 against the dollar on Monday as European Central Bank officials advocated for further aggressive currency tightening, before retreating to end up 0.76% at 1.0121.
ECB policymakers believe the central bank needs to raise its key interest rate to 2 percent or higher to contain the risk of record inflation in the euro zone, the sources said.
Germany’s economy is expected to shrink next year, contrary to forecasts three months ago, as a sharp rise in energy costs due to the war in Ukraine has dashed hopes of a recovery after the end of the coronavirus lockdown, the Ifo Institute for Economic Research said on Monday.
Germany supports further rate hikes in Europe and sees inflation easing only in mid-2023. On Sunday, Bundesbank President Joachim Nagel, a member of the European Central Bank’s Governing Council, said the ECB would need to keep raising interest rates if current consumer price trends continue.
Last week, the European Central Bank raised interest rates by a historic 75 basis points, the last time it raised rates by this magnitude was in 1999. According to people familiar with the matter, the European Central Bank officials are ready to raise interest rates sharply again at the October meeting if the inflation situation does not improve, according to people familiar with the matter.
Yesterday’s early trading, the Asian trading stage placed a long order of 1712. In the day, the idea was to buy long on dips, and finally at the position around 1725, all the long orders were taken out of the game (the long order yesterday was also undisputed, the golden fork in the day). , oscillates upward in 4 hours, and begins to rise after stepping on the lower track in 1 hour. These are typical upward signals.