XAUUSD CPI DATA DAY ANALYSIS #SEMS #XAUUSD

🚨 XAUUSD (Spot Gold) 🔖 14-8-2024 🚨

Sell at: $2492-$2512-$2542 -$2557
Buy at: $2415-$2390 -$2370-$2350

CMP - $2473.52 (as of writing) 📈

⚠Warning: Do not risk more than 5% of your capital. Trading in gold and other financial markets involves significant risk and may result in substantial losses.

🚨📝Data scheduled to be published at 18:00 hrs -23:30 hrs🔖

18:00-Consumer Price Index CPI (MoM) (Jul
18:00- Consumer Price Index CPI (YoY) (Jul)
18:00- Consumer Price Index ex Food & Energy (YoY) (Jul)
18:00-CPI (YoY) (Jun) 3.1% 3.3%
20:00 - EIA Crude Oil Stocks Change (Aug 9)

📊💹 Fundamentals that might impact XAUUSD: Date: 14 August 2024 📅

Upcoming CPI Release: A Market-Altering Event 📈

• CPI Impact: The Consumer Price Index (CPI) release on Wednesday is expected to significantly influence financial markets. 📊
• Rate Cut Expectations: The CPI results will shape expectations for a Federal Reserve rate cut in September. 💵🔽
• Fed’s Stance: Fed Chair Jerome Powell stressed that favourable inflation data is crucial for a rate cut. 🏛

Inflation Data and Rate Cut Prospects Drive Market Focus; Gold Prices on Watch 💡💰

• Producer Prices (PPI): July PPI rose by 0.1%, below expectations, leading to an increased likelihood of a 50 basis point Fed rate cut in September, now at 53.5%. 📉
• Consumer Price Index (CPI): Expected to show continued moderation in inflation, with core CPI forecasted to drop to 3.2%, and headline CPI likely to remain at 3.0%. 📉🔍

Gold Market Impact: 🏅

• Gold Prices: Typically rise when interest rates fall, as lower yields reduce the opportunity cost of holding non-yielding assets like gold. 📈🪙
• Investor Sentiment: If inflation data supports a rate cut, gold could see upward momentum as investors seek a hedge against inflation and economic uncertainty. 📈💼
• Fed's Position: Chair Jerome Powell highlighted that positive inflation data is key for the Fed to proceed with a rate cut in September, which could further influence gold's attractiveness in the market. 🏛📉🪙

Treasury Yields Hold Steady Ahead of Consumer Inflation Figures
U.S. Treasury yields remained stable Wednesday as investors weighed the latest inflation data and its potential impact on the economy and Fed policy. 📈🔍

Trading Strategy: Given the current market dynamics, we suggest the following:

🟢For Potential Rebound:
• Buy Entry Target Range: $2500 (TP1)- $2520 (TP2)-$2545(TP3)
🔴For Potential Downtrend:
• Sell Entry Target Range: $2430 (TP1)- $2405 (TP2)- $2390 (TP3)

🔴Technical Status: XAUUSD: 📌
D1 SMA100-P (2357.38) Buy🔺
H4 SMA100-P (2419.00) Buy🔺
H1 SMA100-P (2499.15) Buy🔺
H4 SMA200-P (2388.14) Buy🔺

RSI(14): Status: Buy
STOCHRSI(14): Status: Overbought
ROC: Status: Buy
William%R: Status: Overbought
ATR(14): Status: Less Volatility
SOC: Status: Sell