Fundamental for the Day
7.0 pm Core CPI m/m
CPI m/m & y/y
8.30 pm Fed Chair Powell Speaks
10.30 pm FOMC Member Bostic Speaks
11.31 pm 10-Y Bond Auction
12.30 am Federal Budget Balance
3.35 am FOMC member Waller Speaks
- US Dollar has taken a quick move lower & its not clear why
- Fed Chair Powell : We don't need to be in a hurry to adjust policy
- Can maintain policy restraint for longer if economy maintains strong & inflation does not move toward inflation 2%
- Inflation has eased significantly but remains somewhat elevated. The labor market appears to be stabilized
- The Fed is on Hold on Interest rate Cut.. It will stay there until inflation improves or the labor market weaken unexpectedly
Gold
Range: 86000 - 83100
Our Preference: Sell Gold 86000 with back up sell for target 84700 & below 84550 sustain target extended till 83100
Alternative Scenario: Buy Gold 83100 with SL 82900 for target 84100
Trading Zone
85877 Sell @ 1st stroke with SL 100 point
88555 Sell For session with SL 100 point
84700 Buy @ 1st stroke for a session with SL 84550
Silver
Range: 93000 - 96000
Our Preference: Sell Silver 96000 with SL 96500+ only is sustain
Alternative Scenario: Buy Silver 93000 with SL 92700 for target 94300
Trading Zone
Breakout Sell 92700 below