Comment on Gold on May 24, 2022

 In yesterday's session, precious metal Gold did not correct much, but increased from 1842 to 1865 ($23) then dropped back to 1846, closing the day with a bullish candle around.  threshold 1853. Although the gaining force is not strong and is currently decreasing slightly, but the increasing force is still there and the option to wait to buy will be more feasible in today's session.

 - On the h4 time frame, after meeting the 1865 resistance, it is currently decreasing to 1850. In my opinion, the possibility of Gold falling further to the 1836-1842 price zone.  Here we consider the option to buy.

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Check out the news that happened in the last 24 hours

  1️⃣ Yesterday's main news

 Fed Evans: Employment could hit debt relief later this year.

 - The trillion dollar infrastructure bill passed in the Senate.

 - US media: Opposition from some Democrats could hinder Powell's re-election as Fed Chairman.

 - Biden intends to nominate Frost, an official with the Federal Reserve Bank of New York, as Assistant Secretary of the Treasury.

 - The Fed's use of reverse repurchase instruments approaches $1 trillion.

 Iraq plans to increase oil production to 8 million barrels per day by the end of 2027.

 - India will eliminate the use of cryptocurrencies to fund illegal activities.

 2️⃣ Financial facts and data today

 - the annual rate of the US CPI will not be seasonally adjusted for July, the expected value is 5.3%, the previous value is 5.4%;  at the same time, the monthly rate of US CPI after the July Adjustment season will be published, the expected value is 0.5%, and the previous value is 0.9%.

 - EIA crude oil inventories in the United States for the week to August 6. The previous value was 3.627 million barrels.  Additionally, in 2021, the FOMC voting committee and Atlanta Fed President Bostic will speak on how the Fed can make the economy more inclusive.

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Check out the news happening in the last 24 hours

  1️⃣ Yesterday's main news

 - Fed Bostic: Or start reducing debt from October to December.

 - Democrats in the US Senate announce a $3.5 trillion budget plan.

 - The provisions of crypto tax under the US Infrastructure Act have not been agreed.

 - US Treasury Secretary Yellen seeks bipartisan cooperation to resolve debt ceiling issue.

 - New York Fed survey: US consumers' short-term inflation expectations maintain record highs.

 - For the first time, JOLTS US employment exceeded 10 million people, exceeding the number of unemployed people.

 - Japan may increase its economic stimulus plan

 2️⃣ Financial facts and data today

 - the August ZEW Economic Sentiment Index for Germany and the Eurozone will be published.

 - the July US NFIB Small Business Confidence Index will be released, with the expected value of 102 and the previous value of 102.5.

 - 2022, the FOMC voting committee and Federal Reserve chair Cleveland Meester will deliver speeches on inflation risks.

 - EIA will release its monthly short-term energy outlook report.

 - the next day, API crude oil inventories will be released for the week from the US to August 6.

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Key points in the Reserve Bank of Australia's interest rate decision

 [10:00 AM, 8/4/2021] +65 3165 7233:  ① Interest rate level: keeping the cash rate unchanged at 0.1% and maintaining the 3-year bond yield target of 0.1%;  The actual inflation rate will not increase until the real inflation rate remains within the target range of 2-3%.

 ② Monetary Policy: Committed to maintaining highly accommodative monetary conditions, continuing to buy government bonds at A$5 billion a week until early September, and then $4 billion  Australia a week, at least until mid-November

 ③ Interest rate hike expectations: Interest rate hike conditions will not be met before 2024

 ④ GDP Expectations: GDP will contract in Q9, with a slightly more than 4% growth in 2022 and around 2.5% growth in 2023.

 ⑤ Inflation expectations: inflation rate in 2022 will be 1.75%, in 2023 it will be 2.25%

 ⑥ Expected unemployment rate: Will fall to around 4.25% by the end of 2022 and around 4% by the end of 2023

[10:01 AM, 8/4/2021] +65 3165 7233: Market Analysis: With the release of the latest New Zealand jobs report -The data is very positive.  The market for bets on a Federal Reserve rate hike has increased.  The Reserve Bank of New Zealand is expected to raise interest rates to 1% before the end of the year.

 After the data was released the NZD was supported to increase.

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Check out the news that happened in the last 24 hours

  1️⃣ Yesterday's main news

 - Fed Governor Waller: The Fed may announce a reduction in debt purchases before September.

 - The text of the bipartisan infrastructure agreement completed this week is expected to vote on the bill.

 - US Treasury Department cash balance drops to $459 billion.

 - US ISM manufacturing unexpectedly fell back in July, Markit manufacturing PMI hit a new high.

 - International Monetary Fund: USD valuation could be overvalued by 8.2%.

 - The size of euro governments and investment-grade corporate bonds hit record highs.

 - China Caixin manufacturing PMI fell to 50.3 in July, the lowest level since May 2020.

 2️⃣ Financial facts and data today

 - Reserve Bank of Australia announced the solution on interest rates

 - the monthly rate of PPI in the euro area for June will be announced

 - the monthly US factory order rate for June will be published

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Today Top Forex News By Money Life Research

 1️⃣ The main news last weekend

 - The annual rate of the core PCE price index in the US in June hit a new high.

 - Fed Brad: The QE reduction will begin this fall and end in March next year.

 - Fed Governor Brainard: Will assess conditions to slow down asset purchases.

 The Fed's reverse buyback demand exceeded $1 trillion for the first time in history.

 - The Russian Ministry of Energy asked the government to ban the export of gasoline which could last for at least three months.

 2️⃣ Notable events and data today

 - China July Caixin Manufacturing PMI will be released

 - The final value of the eurozone manufacturing PMI for July will be published

 - The final value of the Markit Manufacturing PMI in the United States will be published in July.

 - Reminder: The Toronto Stock Exchange in Canada is closed for one day.

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Check out the news happening in the past 24 hours

 1️⃣ Yesterday's main news

 - OPEC+ will continue to increase production in July,WTI crude oil hits high since October 2018.

 The Fed's federal funds rate fell for the first time since late April.

 - Fed Governor Brainard: Further progress is expected in the coming months.

 - All JBS beef processing plants in the US were forced to suspend production due to a cyber attack.

 India's central bank clarifies that cryptocurrency trading is not prohibited.

 - Erdogan says interest rates need to be lowered, Turkish lira plummets.

 2️⃣ Today's important facts and data

 - Today, the FOMC voting committee and Chicago Fed President Evans will deliver speeches on the current economic situation and monetary policy.

 - On Thursday, Minneapolis Fed President Kashkari, Atlanta Fed President Atlanta Bostic, Fed President Dallas Kaplan and Philadelphia Fed President Huck will attend an online conference on race and the economy.  At the same time, the Federal Reserve issued the Beige Book.

 - On Thursday, API crude inventories from the United States will be released for the week to May 28. The previous value fell by 439,000 barrels.

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