The Xau/USD shot new maximums while Trump intensified the threats against Powell, said the OCBC, Frances Cheung and Christopher Wong currency analysts.
The trend is still bullish until it changes
“Trump said in a publication in social networks that ‘there are practically no inflation’, pointing out the lowest prices of energy and food. ‘But there may be a slowdown of the economy unless Mr. too late, a great loser, lowers interest rates, now,’ Trump said, referring to Powell.”
“We previously share that dismissing Powell or interfering with the Federal Reserve not only undermines the principle of independence of the Central Bank, but also risk politicizing the monetary policy of the USA.
“The Xau was at levels of 3465. The impulse is upward while the RSI rose to overcompra conditions. The trend remains bullish until it changes. The next resistance is at the levels of 3500 and 3600. Support at the levels of 3420 and 3350.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
