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Weekly XAUUSD Analysis for July 29 to August 2, 2024: Major Week Ahead with Federal Fund Rate, FOMC Statement, and NFP Data
The market sentiment remains consistent with the expectation that the Federal Reserve will soon start cutting interest rates. However, this week's interest rate expectation remains the same as before, at 5.50%. According to the Fed Watch Tool, we may see the first interest rate cut during the September FOMC meeting. Ultimately, we will continue to see bearishness in the DXY as the sentiment remains intact. However, we need to carefully monitor the labor market conditions this week. Key data releases for NFP (Non-Farm Payroll) and other employment-related data will be crucial. If the upcoming labor market data shows ... (full story)
