ANALYSIS
NQ100 Finds Support from PPIApr 14
XAUUSD:Ounce Gold Contract's Sales May Consolidate
In the last Asian session of the week, data from the world's second-largest economy was critical. As China's National Bureau of Statistics (NBS) reported; The consumer price index (CPI) in the country decreased by 0.2 percent in May compared to the previous month and became 2.1 percent on an annual basis. In this period, the producer price index (PPI) also decreased from 8.0 percent to 6.4 percent. The easing of price pressures in China, which alone has more than 27 percent of the world's manufacturing industry, was perceived as a positive signal for the global inflation outlook, reducing the demand for ounce gold. On the other hand, the support of 1832 is critical in the ounce gold, where the loosening started with the high levels of long-term bond rates in the international markets and the strong appearance of the dollar. If this level can be broken permanently, pullbacks could continue to 1806 behind 1820 as sales consolidate. Above, 1856-1868 will continue to be a strong resistance zone.
