Gold and commodities in balance, CPI figures and Italian budget meeting in focus
- FX Market
- 1 month ago
Today’s U.S. CPI numbers data is in focus, the YoY inflation rate should be on-trend at 2.2% which should in theory reverse investors’ sentiment and therefore favour the greenback.
Gold and other U.S. assets better watch out including oil however E.U. political issues and EIA (Energy Information Administration) inventory data may provide a safety net.
Italian PM Giuseppe Conte is set to meet with the European Commission’s President Jean-Claude Juncker to discuss budget figures which without any agreement may send bond yields down and therefore boost gold.
The same EIA statistics may aid crude if it closes in on the forecasted 3.2-billion-barrel drawdown.
Source: Smart Trend Team