21 June Economic News

In the UK, the core inflation rate has exceeded 7%, while the headline inflation rate has surpassed expectations. The actual YoY (May) core inflation rate of 7.1% was higher than the forecasted rate of 6.8%. Similarly, the YoY (May) inflation rate was also higher than expected, reaching 8.7% instead of the predicted 8.4%. Moreover, the MoM (May) inflation rate increased from its previous rate of 0.5% to 0.7%. Investors are currently evaluating whether to invest in XAU/USD as they consider the Federal Reserve’s decision to pause interest rate adjustments and monitor incoming economic data, particularly indicators related to inflation and labor market activity. As Jerome Powell presents the Semiannual Monetary Policy Report to Congress during his appearance before the U.S. House Financial Services Committee, investors expect increased fluctuation in gold markets and anticipate questions regarding potential implications of monetary policy on various sectors from other Federal Reserve officials in attendance. The S&P 500 and Nasdaq 100 indices are being analyzed in relation to their price setups, with the former facing significant resistance despite upward momentum while the latter appears overbought at this time. The Nikkei increased by 0.23%, while