🌐 #Copper is holding near record highs while gold struggles under macro headwinds.
As the metals market diverges, traders are watching whether supply dynamics or Fed-driven sentiment will dictate the next move.
👇🏼Read more: https://t.co/CgpwQL4dDK
🇺🇸 US Core PCE 12:30 UTC
Expectations are for core PCE, the Federal Reserve's preferred gauge for inflation, to rise to 3.4% year-on-year in May, up from 3.3% in April. On a monthly basis, Core PCE IS set to rise 0.3%.
Meanwhile, headline annual PCE is forecast to rise to its highest level in 3 years at 4%.
Markets to watch: #USD #USDJPY #EURUSD #SPX #NDX #XAUUSD #BTCUSD
This week’s #PrimeXBT market report:
☮️ Iran peace deal hopes boost risk sentiment
🏦 FOMC decision in focus as traders look for clues on the Fed’s next move
🇯🇵 BoJ rate decision could drive volatility
👉 Read more: https://t.co/vwdr8KMctd
🥇 #Gold is breaking below key levels ahead of US CPI, putting traders on alert for a potential volatility spike.
With inflation data around the corner, the next move could be decisive.
➡️ Full analysis: https://t.co/oB8E5uLdrv
#PrimeXBT#TradFi
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🇺🇸 FOMC meeting minutes 18:00 UTC
The minutes from the April FOMC could provide fresh clues on how divided officials were before Kevin Warsh takes over as Fed Chair.
The Fed left rates unchanged at the meeting, although the decision revealed an unusually high degree of disagreement within the Committee.
Markets to watch: #USD #USDJPY #NDX #SPX #DJIA #XAUUSD #BTC
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Everything is all about perspective.
Seen plenty of charts similar to the one on the left.
"Monthly not looking good"
Another analyst would look at this as just a retest of prior cycle high support.
Neither of them is inherently right or wrong btw. They just look at different things that ultimately form their bias (or fit their bias).
You know I myself am leaning more into the right as the situation stands today.
Bear fractals often play out when the market deviates above the local highs and breaks down below it quite quickly.
Happened in previous cycles, also happened in the current cycle.
In the current range however...
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🇯🇵 #USDJPY is climbing again despite Japan’s record intervention campaign, with broader dollar strength continuing to drive momentum.
Traders are now watching whether the pair can extend gains toward higher resistance levels.
➡️ Read more: https://t.co/Dh56ndNkQq