The US consumer price index (CPI) is expected to increase 0.5% month over month, which is an improvement from the previous month's reading of 0.2%. Meanwhile, the core CPI figure, which excludes volatile food and energy prices, is forecast to remain steady at 0.2%.
These numbers could provide insight into overall inflation trends in the US economy and could have an impact on market sentiment and trading decisions for the denominated yellow metal USD.
These numbers could provide insight into overall inflation trends in the US economy and could have an impact on market sentiment and trading decisions for the denominated yellow metal USD.
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The bets were reaffirmed by the upbeat US macro data released last week, which pointed to a resilient economy. Furthermore, the fact, that inflation is not cooling fast enough supports prospects for further policy tightening by the Fed. Hence, the market focus remains glued to the US consumer inflation figures, due later during the early North American session. The crucial US Consumer Price Index (CPI) will influence expectations about the Fed's future rate-hike path and provide a fresh directional impetus to the non-yielding Gold price.
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