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  • Trump says meeting with Chair Powell included topics including interest rates, negative rates, USD strength and the impact the USD has on manufacturing and trade with China and EU $EUR $DXY $SPX
  • @CVecchioFX aaaaand right on cue: https://t.co/lqJAm1W5lS
  • Right on cue. https://t.co/ZjBcg7W6wB
  • This is the line that sticks in my craw: "will make those decisions based solely on careful, objective and non-political analysis." It sounds like the Fed is pushing back on further rate cuts for the sake of cushioning the economy from the US-China trade war pre-2020 election.
  • RT @realDonaldTrump: Just finished a very good & cordial meeting at the White House with Jay Powell of the Federal Reserve. Everything was…
  • Forex Update: As of 15:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.39% 🇪🇺EUR: 0.18% 🇨🇭CHF: 0.14% 🇨🇦CAD: 0.06% 🇳🇿NZD: -0.08% 🇦🇺AUD: -0.18% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/YMeo92xv6Z
  • POTUS calling Powell to the White House to make sure the Fed has his back with US-China trade relations on the brink of their next breakdown? $USDCNH $XAUUSD $ES_F https://t.co/mWa1rdGMRA
  • Can't help but feel this meeting was intended to re-orient everyone's bearings in the event that Phase 1 of the US-China trade deal falls apart in a more public manner. cc @RichDvorakFX
  • "Finally, Chair Powell said that he and his colleagues on the Federal Open Market Committee will set monetary policy, as required by law, to support maximum employment and stable prices and will make those decisions based solely on careful, objective and non-political analysis."
  • "Powell's comments were consistent with his remarks at his congressional hearings last week. He did not discuss his expectations for monetary policy, except to stress that the path of policy will depend entirely on incoming information that bears on the outlook for the economy."
Gold Price Outlook Unclear until this Changes

Gold Price Outlook Unclear until this Changes

2017-06-12 16:05:00
David Rodriguez, Head of Business Development
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Gold Price Outlook Unclear until this Changes

Why and how do we use IG Client Sentiment in trading? See our guide and real-time data.

Spot Gold: Retail trader data shows 69.0% of traders are net-long with the ratio of traders long to short at 2.23 to 1. The number of traders net-long is 5.2% higher than yesterday and 4.5% lower from last week, while the number of traders net-short is 9.5% higher than yesterday and 8.7% lower from last week.

We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests Spot Gold prices may continue to fall. Positioning is less net-long than yesterday but more net-long from last week. The combination of current sentiment and recent changes gives us a further mixed Spot Gold trading bias.

See next article in this week’s report: AUDUSD - Australian Dollar Forecast to Rally Further

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