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XAU fell as investors took profitstraders price a more than 72% chance the Fed will cut interest rates by 25 basis points in September, up from 59% last week. Traders are also pricing in the growing possibility of a second interest rate cut in December. Key US data points for the week include Fed Chairman Powell's speech to the US Congress on Tuesday and Wednesday. Consumer price index; producer prices on Thursday and Friday - will likely influence the central bank's interest rate outlook. Elsewhere, in weekend news, a coalition of left-wing parties in France, known as the New Popular Front, won the most seats in the National Assembly election, according to initial predictions.
OANDA:XAUUSDShort
by TrategySherpa
GBPCAD The UK economy is gradually stabilizingA recent survey by market research firm Ipsos found that two-thirds of Canadian respondents have given up on plans to own a home. Additionally, three-quarters believe that buying a home is a privilege for the wealthy. And 71% said the real estate crisis is still ongoing. "The dream of homeownership is becoming a nightmare for an entire generation of Canadians," said Sean Simpson, vice president at Ipsos. The Ipsos survey surveyed Canadians of all ages, including those who already own a home. Sean Simpson said the results reflect Canada's attitude that homeownership is becoming increasingly unaffordable, especially for young people. Federal government data also suggests younger Canadians may be leaving the housing market. According to a Statistics Canada report last week, outstanding mortgage debt is
Long
by Chart_MasterPro
Beneficial news makes GBPJPY come back stronglySD/JPY remains in a difficult position as the fundamental backdrop remains tilted in one direction, but the threat of intervention acts as an obstacle to trend continuation. At this stage, the deviation in many JPY pairs is still large because the Bank of Japan keeps interest rates at the floor level despite rising inflation. Most other major economies have responded to inflationary pressures with interest rate hikes, and in the US, more rate hikes are still likely as data remains strong. This has helped maintain trading activity as many JPY pairs continue to show positive buying and selling rates
Long
by Chart_MasterPro