Profit-Taking Pressures Gold, Will It Fall Further? | Profit-Taking Tekan Emas, Bakal Lanjut Turun? The global gold price (XAU/USD) fell to around $4,210 in early Asian trading on Wednesday morning. This decline followed a strong previous rally, when many market participants opted to take profits first. Investors also chose to wait for the release of important US economic data in the next few days before opening new positions. Today, the market is awaiting the release of the ADP Employment Change (private employment data) and the ISM Services PMI (service sector activity). Both of these...
The Australian Dollar (AUD) rose and reached a three-week high against the US Dollar (USD) during Wednesday's Asian session. This rise occurred despite less-than-satisfactory Australian economic data.The Australian Bureau of Statistics reported that third-quarter economic growth fell to 0.4% from 0.6% previously, a figure lower than market expectations. Typically, such poor data would put pressure on the AUD, but this time it had little impact.One factor was the hawkish stance of the Reserve Bank of Australia (RBA). RBA Governor Michele Bullock stated that inflation remains higher than...
The US Dollar Index (DXY) fell slightly by 0.1% to around 99.20 during the Asian session on Wednesday (December 3). This weakening occurred due to increasing speculation that Kevin Hassett, White House Economic Advisor, could replace Jerome Powell as Chairman of the Federal Reserve after his term ends in May. Statements by US President Donald Trump, who publicly mentioned Hassett as a potential candidate, further strengthened market expectations. Analysts believe that if Hassett leads the Fed, the central bank's independence could be threatened, as he is known to strongly support Trump's...