Economic Indicators

07：30 Japan Jobs/applications ratio (Jul)‧Fcst1.23‧Prev1.23
07：30 Japan Unemployment Rate (Jul)‧Fcst2.5%‧Prev2.5%
07：50 Japan Industrial Production (MoM) (Jul)‧Fcst+3.3%‧Prev-4.2%
07：50 Japan Retail Sales (YoY) (Jul)‧Fcst+2.9%‧Prev+3.8%
07：50 Japan Large Scale Retail Sales YoY (YoY) (Jul)‧Prev+7.0%
09：30 Australia Retail Sales (MoM) (Jul)‧Fcst+0.3%‧Prev+0.5%
14：00 German Import Price Index (MoM) (Jul)‧Fcst+0.0%‧Prev+0.4%
14：00 German Import Price Index (YoY) (Jul)‧Prev+0.7%
14：00 German Retail Sales (MoM) (May)‧Fcst+0.4%‧Prev-1.2%
14：00 German Retail Sales (YoY) (May)‧Prev-0.6%
14：45 French GDP (QoQ) (Q2)‧Fcst+0.3%‧Prev+0.3%
14：45 French GDP (YoY) (Q2)‧Prev+1.1%
14：45 French HICP (YoY) (Aug)‧Fcst+2.1%‧Prev+2.7%
15：00 Switzerland KOF Leading Indicators (Aug)‧Fcst100.6‧Prev101.0
15：55 German Unemployment Change (Aug)‧Fcst16K‧Prev18K
15：55 German Unemployment n.s.a. (Aug)‧Prev2.809M
15：55 German Unemployment Rate (Aug)‧Fcst6.0%‧Prev6.0%
15：55 German Unemployment (Aug)‧Prev2.802M
16：00 UK BoE Consumer Credit (Jul)‧Fcst1.300B‧Prev1.162B
16：00 UK Mortgage Lending (Jul)‧Fcst2.450B‧Prev2.653B
16：00 UK Mortgage Approvals (Jul)‧Fcst60,500‧Prev59,976
16：00 UK M4 Money Supply (MoM) (Jul)    ‧Prev+0.5%
17：00 EZ CPI (YoY) (Aug)  ‧Fcst+2.2%‧Prev+2.6%
17：00 EZ HICP ex Energy & Food (YoY) (Aug)  ‧Fcst+2.7%‧Prev+2.8%
17：00 EZ Unemployment Rate (Jul)‧Fcst6.5%‧Prev6.5%
20：30 US Personal Income (MoM) (Jul)‧Fcst+0.2%‧Prev+0.2%
20：30 US Personal Spending (MoM) (Jul)‧Fcst+0.5%‧Prev+0.3%
20：30 US Core PCE Price Index (MoM) (Jul)‧Fcst+0.2%‧Prev+0.2%
20：30 US Core PCE Price Index (YoY) (Jul)‧Fcst+2.7%‧Prev+2.6%
20：30 US PCE price index (MoM) (Jul)‧Fcst+0.2%‧Prev+0.1%
20：30 US PCE Price index (YoY) (Jul)‧Fcst+2.6%‧Prev+2.5%
20：30 Canada GDP (QoQ) (Q2)‧Prev+0.4%
20：30 Canada GDP Annualized (QoQ) (Q2)‧Fcst+1.6%‧Prev+1.7%
20：30 Canada GDP (MoM) (Jun)‧Fcst+0.1%‧Prev+0.2%
22：00 US Michigan Consumer Sentiment (Aug)‧Fcst68.0‧Prev67.8
22：00 US Michigan Current Conditions (Aug)‧Prev60.9
22：00 US Michigan Consumer Expectations (Aug)‧Prev72.1
22：00 US Michigan 1-Year Inflation Expectations (Aug)‧Prev2.9%
22：00 US Michigan 5-Year Inflation Expectations (Aug)‧Prev3.0%

XAU London Gold ─ Gold prices are consolidating in a high range, waiting to see the US inflation data tonight

London gold remained at highs on Thursday, helped by strong expectations that the Federal Reserve will cut interest rates in September, with investors focusing on U.S. inflation data to further understand the extent of potential interest rate cuts. The market is preparing for a rate cut, the key is just how deep the Fed can cut rates. Traders see a 66% chance of a 25 basis point rate cut in September and about a 34% chance of a 50 basis point rate cut, according to the CME FedWatch Tool. Investors are currently focused on Friday's personal consumption expenditures (PCE) price index, the Fed's favored inflation measure. In addition, geopolitical risks are also supporting gold. The Israeli military said it had killed five Palestinian militants hiding inside a mosque in the West Bank city of Tulkarem.

In terms of technical trends, both the RSI and the stochastic index have shown preliminary signs of falling from the overbought area. In addition, the price of gold has risen by about $150 this week, and an upward trend line has been formed during the period and has been extended to the $2518 level, so be careful and guard against any risks. If the price of gold clearly falls below this area, it is a warning signal for a larger adjustment. Calculated based on the cumulative increase since August 5, the 38.2% correction is $2,468, which is just close to last Thursday’s low of $2,470. If the correction is further extended to 50% and 61.8%, it will be $2,448 and $2,428. In addition, the current position of the 25-day moving average at $2464 is also an important support reference. Upward resistance will continue to focus on the record high of $2531.60, and the subsequent greater resistance is expected to be at $2550 and $2580.

London Gold August 30
Forecast early volatility: 2518 – 2526
Resistance 2534 – 2543 – 2556
Supports 2509 – 2494 – 2481

SPDR Gold Trust gold holdings:
August 19 – 859 tons
August 20 – 857.27 tons
August 21 – 856.70 tons
August 22 – 857.85 tons
August 23 – 856.12 tons
August 26 – 856.12 tons
August 27 – 856.12 tons
August 28 – 856.12 tons
August 29 – 857.27 tons

29/8 AM London Gold Fix: $2517.05
29/8 PM London Gold Fix: $2518.1

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