Gold Fundamental Forecast – August 31. 2016

By:

Published: Aug 30, 2016, 13:33 UTC

Gold dipped over $4 to trade at 1322.95 as traders reviewed Deputy Fed Chief Fischer comments today. Marketwatch reported that It is impossible to say

Gold dipped over $4 to trade at 1322.95 as traders reviewed Deputy Fed Chief Fischer comments today. Marketwatch reported that It is impossible to say whether the next interest rate hike would be “one and done,” Federal Reserve Vice Chairman Stanley Fischer said on Tuesday. “We can choose the pace. But we choose the pace on the basis of data that are coming in,” Fischer said in an interview on Bloomberg Television. “So I don’t think we know at the time we start whether it’s one and done or several. It depends entirely on what happens in the economy,” Fischer said.

Last week, at the Fed’s closely followed Jackson Hole, Wyo., policy retreat, Fischer said he saw the possibility of two rate hikes this year. Janet Yellen said on Friday she thought the case had grown stronger in recent months for an interest rate increase, remarks that Fischer later that day said were consistent with a view that the U.S. central bank might raise rates at its next policy meeting in September.

Asked about the dollar Fischer said the currency’s strength affected U.S. inflation and company profits but improvements in the labor market showed the economy had withstood this headwind.

FxEmpire provides a wide variety of analysis on a daily, weekly and monthly basis ranging from our exceptional technical analysis as well as our in-depth fundamental analysis along with our daily news and market updates. To get the best understanding of each asset it is important to review the short term daily analysis with the longer term monthly reports. To get email notification when each of these are posted please sign up for our daily newsletter.

Upcoming Economic Events that you should be monitoring:

August 31, 2016

Country	Event	Volatility	Previous
GBP	Gfk Consumer Confidence	2	-12
JPY	Industrial Production	2	-1.5
JPY	Industrial Production	2	2.3
AUD	HIA New Home Sales	2	8.2
CHF	UBS Consumption Indicator	2	1.34
EUR	Unemployment Rate s.a.	3	6.1
EUR	Unemployment Change	3	-7
EUR	Unemployment	2	11.6
EUR	Unemployment Rate	2	10.1
EUR	Consumer Price Index	3	0.2
EUR	Consumer Price Index – Core	3	0.9
USD	ADP Employment Change	2	179
CAD	Gross Domestic Product Annualized	2	2.4
CAD	Gross Domestic Product	2	-0.6
USD	Chicago Purchasing Managers’ Index	2	55.8
USD	Pending Home Sales	2	1
USD	Pending Home Sales	2	0.2