ForexJohn

Gold finally broke to the upside yesterday, moving sharply through the 2529 level and out of the consolidation we've been tracking in wave four for the last two weeks. So far, we’re seeing a nice extension to the upside, which suggests that wave five is in progress. However, it should be subdivided

The Pound Sterling edges slightly up against the US Dollar, but a decline in bets that the Fed will opt for a large rate cut keeps the downside bias afloat. Investors see the BoE leaving interest rates unchanged at 5% at its September meeting. Market participants await the US PPI report for August.

Notes/observations - Mixed UK Jobs Report Unlikely to Affect BOE: July unemployment rate print was in line but 3-month employment change was highest in 22 months, as average weekly earnings dropped more than expected to 4.0%, a 2-year low. Data fails to change expectations for Bank of England (BOE)

Outlook We get CPI on Wednesday and the ECB rate decision on Thursday. CPI doesn’t matter at all because even if it fails to show ongoing improvement, rate cut expectations are as firm as they get. All the same, another dip in inflation would be nice and even nicer would be a dip in the household in

Last week ended on an ugly note, really, as the jobs data from the US revealed throughout the week was weak, but maybe not weak enough to tilt the Federal Reserve (Fed) expectations toward a clear direction. Job openings fell more than expected, and Friday’s official data showed that hirings rebound

Indian shares were deep in the red on Friday after U.S. private payrolls data showed the weakest growth since 2021, heightening fears of a slowing labor market. All eyes now remain on the Eurozone GDP data and the all-important U.S. jobs report due later in the day. The benchmark S&P BSE Sensex