FXEM - EMPIRE MARKETS - Company New Article

Gold is currently trading at $2946 per ounce, as markets await several economic data that may affect its movements during the week.

• Fed minutes (Wednesday, February 26): Any hints of further monetary tightening may pressure gold, while signals of potential easing may support it.
• US inflation data: Continued high inflation may reinforce expectations of higher interest rates, weakening gold’s appeal as a safe haven.
• US GDP data: If positive, it may support the dollar and negatively impact gold, and vice versa.

Gold remains under pressure as we await this data, as its performance will be affected by any signals on the Fed’s upcoming interest rate directions.

Oil is currently trading at $70.18 per barrel, as markets await several economic data releases that could impact prices during the week.

• US Crude Oil Inventories (Wednesday, February 26): Any increase in inventories could weigh on prices, while a decline in inventories could support oil.
• US Fed Minutes: If it shows a tightening in monetary policy, it could support the dollar, which would pressure oil prices.
• US GDP Data: An improving economy could boost oil demand expectations, while any slowdown could negatively impact prices.

Oil is under pressure due to concerns about slowing global demand, but any positive signals from upcoming data could support it.