ANALYSIS
NQ100 Finds Support from PPIApr 14
XAUUSD Continues to Remain Under Pressure of Bond Interests
The wave of selling in the global bond market has not subsided yet. As core inflation in the world's largest economy reaches the peak of 40 years and with the pricing of expectations that the US Federal Reserve (FED) will raise interest rates by another 75 basis points at its November meeting, the US 10-years reaches 4%, while ounce gold is struggling to find demand. As a matter of fact, the price outlook also continues its descending channel movement. The end of the 1640 support with declines may pave the way for losses until 1626. Above, the 1668-1684 range will continue to be a strong resistance zone.
