Analysis of gold news: Gold prices rose sharply on Wednesday (March 27) as investors awaited U.S. inflation data, which may provide new clues as to when the Federal Reserve will begin to ease monetary policy. Investors now look forward to Friday’s U.S. core personal consumption expenditures (PCE) price index data for February. The index is expected to have gained 0.3% last month, holding annual growth at 2.8%. The U.S. durable goods orders data released on Tuesday was stronger than expected, the U.S. dollar index turned from falling to rising, and the price of gold narrowed its gains and fell back to $2,174. The market focus this week is on the PCE data released on Friday. This data is the Federal Reserve’s preferred inflation indicator. The data is currently expected to show that inflation pressure remains high. Once the PCE data is released higher than expected, gold may pull back. The optimistic outlook for U.S. economic growth has supported the dollar index’s rise again. During the day, we will pay attention to the Eurozone’s March sentiment index, speeches by Bank of England and European Central Bank officials, speeches by Federal Reserve officials, and news related to the geopolitical situation. It is expected to provide another rebound impetus for gold prices. Pay attention to today’s closing situation.
Today’s gold strategy: It is recommended to focus on low and long callbacks, supplemented by rebounds from high altitudes. Focus on the 2205 first-line resistance at the top and the 2175 first-line support at the bottom.
Analysis of crude oil news: Oil prices have fallen for two consecutive days, mainly affected by two factors. First, a sharp increase in crude oil inventories in the United States, the world’s largest oil consumer, was reported. Second, there are signs that major oil producers are unlikely to adjust their output policies at next week’s technical meeting. These two factors combined led to the decline in oil prices. A sharp rise in U.S. crude inventories and expectations that OPEC may not take action next week have led to further selling pressure, accelerating profit-taking after strong gains in mid-March.
Today’s crude oil strategy: It is recommended to focus on rebounding from high altitudes, supplemented by low and long corrections. Focus on the first-line resistance of 83.0 at the top and the first-line support of 80.0 at the bottom.
Caution is required in operation and suggestions are provided for reference.
