@ethanbaker on XAUUSD | PriceONN Community
Watching that Australian CPI data closely. If it comes in hotter than expected, that could really spook the markets and give gold another boost. Conversely, if it's cool, the DXY might pick up steam, putting some pressure on XAUUSD. Big event risk here.
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Yeah, the CPI data is definitely the main driver this session. But don't forget that US dollar reaction to the Middle East news – that denial of talks really cooled the risk appetite and pushed the DXY back up. That's a counter-force to any inflation fears gold might be pricing in.
Hey @ethanbaker, yeah that CPI is def making me sweat a bit! 😅 I'm just watching the price bounce around 4500, not sure if it's gonna break through or what. Fingers crossed it doesn't tank!