Gold Dec '18 (GCZ18)
Gold Futures Market News and Commentary
The dollar index (DXY00) is down by -0.55% today.  The dollar is retreating today after US June consumer prices rose less than expected, a dovish factor for Fed policy. Also, the benign CPI report has reduced the chances of a Fed rate hike at the FOMC meeting later this month to 12% from 43% on Monday, further weighing on the dollar. Â
Losses in the dollar are limited after Fed Chair Warsh said the US economy is resilient and growing at a solid pace.  Also, escalating hostilities in the Middle East are boosting safe-haven demand for the dollar after US forces launched another round of strikes against Iran today and the UAE said Iran attacked two oil tankers in Omani waters. In addition, today’s +3% jump in crude oil prices to a1-month high raises inflation expectations and could prompt the Fed to tighten monetary policy, a supportive factor for the dollar.Â
US Jun CPI eased to +3.5% y/y from +4.2% y/y in May, a slower pace of increase than expectations of +3.8% y/y. ... Read more
Barchart · Tue Jul 14, 9:33AM CDT
The dollar index (DXY00 ) is down by -0.55% today. The dollar is retreating today after US June consumer prices rose less than expected, a dovish factor...
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