A miss on US ISM PMI numbers are fueling investor appetite.
Hopes for Fed rate cuts mount with each data print that suggests easing inflation.
Spot Gold caught a bump on Friday after the US ISM Manufacturing Purchasing Manager Index (PMI) came in below expectations, sparking renewed hopes of the Federal Reserve (Fed) delivering rate cuts sooner rather than later.
The US ISM Manufacturing PMI for February unexpectedly slid back on Friday, printing at 47.8 versus the forecast increase to 49.5 against the previous month's 49.1.
Read more: ISM Manufacturing PMI declines to 47.8 in February vs. 49.5 expected
The Fed's latest Monetary Policy Report revealed the Fed is cautiously optimistic that inflation is coming under control, albeit with some notable sticking points in a still-tight labor market and stubborn shelter and rent prices inflation caused by housing supply constraints
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
Hot
No comment on record. Start new comment.