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Gold price edges lower in Monday’s early European session. Fed rate cut hopes and rising Russia-Ukraine tensions could lift the Gold price. Traders brace for the preliminary reading of the US Q2 GDP report later on Thursday.  The Gold price (XAU/USD) drifts lower to around $3,350 during the early European session on Monday, pressured by a stronger US Dollar (USD). Nonetheless, rising optimism of a September rate cut following comments by Federal Reserve (Fed) Chair Jerome Powell at the Jackson Hole symposium might cap the downside for the yellow metal. The Fed’s Powell has opened the door to a rate reduction in the September…

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EUR/USD rallies nearly 1% as Powell signaled policy flexibility and acknowledged downside risks in the US labor market.Traders boosted odds of a 25 bps Fed cut in September to 90%, up sharply from 72% on Thursday.Outcome hinges on Core PCE, CPI, and Nonfarm Payrolls before September, with risks skewed toward inflationary pressures.EUR/USD skyrockets during the North American session after Federal Reserve (Fed) Chairman Jerome Powell leaned dovish at his Jackson Hole speech, opening the door for a resumption of the easing cycle. The pair trades at 1.1718, up by 0.97%.Market participants began to price in a Fed rate cut in…

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Gold prices rallied sharply after Powell’s dovish tone highlighted employment risks despite persistent upside risks to inflation.Traders priced in a 90% probability of a 25 basis-point Fed cut, with key data still ahead before September.Next week’s US docket includes Durable Goods, GDP, and the Fed’s preferred inflation gauge, the Core PCE Price Index.Gold prices continue to trend higher on Friday after the Federal Reserve (Fed) leaned dovish, as commented by the Fed Chair Jerome Powell, who said that “downside risks to the labor market are rising.” XAU/USD trades at $3,371 after hitting a daily low of $3,321.The day arrived and…

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Japan’s National Consumer Price Index (CPI) rose by 3.1% YoY in July, compared to the previous reading of 3.3%, according to the latest data released by the Japan Statistics Bureau on Friday.Further details unveil that the National CPI ex Fresh food arrived at 3.1% YoY in July versus 3.3% prior. The figure came in above the market consensus of 3.0%.CPI ex Fresh Food, Energy rose 3.4% YoY in July, compared to the previous reading of 3.4%.Market reaction to Japan’s National CPI dataFollowing Japan’s CPI inflation data, the USD/JPY pair is down 0.03% on the day at 148.32. Inflation FAQs Inflation measures the rise in the price…

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