XAUUSD pair movement based on today’s USD data: 22-2-2024

Today’s given signal : https://t.me/calendarsignal/10608

U.S. Initial Jobless Claims Forecast on Today’s Data for XAUUSD

Based on historical trends, if today’s data on U.S. initial jobless claims shows a decrease in claims, it could potentially have a bearish effect on gold prices. A decrease in initial jobless claims suggests that the job market is improving, leading to reduced risk aversion and a preference for higher-yielding assets. A positive reading on initial jobless claims could potentially weigh on gold prices as investors seek opportunities in other areas.

Good S&P Manufacturing & Service PMI data for GOLD

The S&P Manufacturing & Service PMI is a closely watched economic indicator that measures the activity and sentiment of the manufacturing and service industries. It serves as a gauge of the overall economic health of a country and can influence the value of various assets, including the Dollar and gold.

Gold is often seen as a safe-haven asset during times of economic uncertainty or market volatility. Investors often flock to gold as a hedge against inflation and as a means of protecting their wealth. However, when the S&P Manufacturing & Service PMI is strong, it indicates that the economy is performing well and that inflationary pressures may be subdued.

As a result, when the S&P Manufacturing & Service PMI is good, it can create a negative environment for gold. Investors may be less concerned about potential risks and may instead focus on assets that generate returns, such as stocks and bonds. This could lead to a decline in gold prices as investors sell off their holdings in Favor of more attractive investments.

Previous released data results :

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