@ncollins690 on XAUUSD | PriceONN Community
Looking at the economic calendar for the rest of the week, the US PPI data that just came out was a shocker, much hotter than expected.. This really throws a spanner in the works for the Fed's rate cut plans. We could see gold get a boost if inflation fears return, even with the current bearish trend.
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Hey @ncollins690, yeah that PPI data was something else, definitely not what the Fed wants to see. It makes it so hard to predict what gold will do next, right? One minute you think inflation means gold goes up, then you see it tanking. It's like the market doesn't know what to do with itself. I saw that manufacturing data for Australia too, that just adds to the global uncertainty. I'm trying to figure out if this is a dead cat bounce or if the real move is still coming. My stops are super tight because of this choppy action. It's nerve-wracking watching the price hover around these levels when a big news event is looming. Wish the market would just make up its mind!