Gold Price Forecast: XAU/USD bears eye a downside continuation, US PCE eyed Gold Fed Commodities
All participants agreed more rate hikes needed to achieve Federal Open Market Committee's job, inflation objectives.
Participants saw upside risks for inflation, including china's economic reopening and Russia's war in Ukraine.A number of participants said drawn-out US debt limit process could pose 'significant risks' to the financial system, economy.Participants said continued tight job market would contribute upward pressure to inflation.Some participants saw elevated prospect of recession in 2023.
Looking ahead for the rest of the week, in terms of forthcoming data releases, the market consensus is pointing to strength in the personal consumption and spending data signalling robust domestic demand. ''The Fed’s favoured inflation measure, the PCE deflator, is also due for release this week,'' analysts at Rabobank explained.
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