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Gold was Stable at the Level of the U.S. Data ahead of 1338

Tags: rate gold market

Gold trading is stable at a level of $ 1338 per ounce troi ahead of the New York session awaiting the release of data on U.S. property. Chairwoman's speech the Fed remains a major focus of trade as an opportunity the U.S. interest rate policy certainty.

Based on Fed funds Futures index of the CME Group, market expectations there are opportunities 21% increase in interest rates in September, higher than the previous day with odds of 15%. The market is also predicting a 50% chance of seitdaknya there once the increase in interest rates at the end of the year.

Some u.s. economic data to be released this month and Netanyahu comment some members of the Committee deciding the U.S. rate (FOMC) supports the argument for a rise in U.S. interest rates. But the market still doubts the Federal Reserve will raise interest rates this year due to the potential risk on global economic growth of Brexit as well as the impact of the US election in November.

The existing home sales data will be reported at 9 p.m. EDT. Home sales, new home construction, in addition to the predictable will be slightly reduced from 5.57 million units in June be 5.51 units in the last month. Gold can be weakened if return actual data reported was higher than expectations.

This post first appeared on Forex Today, please read the originial post: here

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Gold was Stable at the Level of the U.S. Data ahead of 1338


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