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Data as of May 13, 2026, shows that trading volume in the 15 minutes before the US market opens is at the 93rd percentile historically, significantly higher than the average of the past 30 days, indicating strong buying support at the open. Simultaneously, the momentum index also reaches the 93rd percentile, significantly better than the 30-day average, reflecting that the markets ability to sustain trends has entered an extremely strong zone.May 13th - The global energy price shock triggered by the US-Israel conflict with Iran may force the Turkish central bank to raise its inflation forecast, further increasing pressure on the country to curb price increases. Turkish central bank governor Fatih Callahan will release his quarterly monetary policy report on Thursday. Analysts widely expect the central bank to raise its year-end inflation target and forecast range. The current target is 16%, with a forecast range of 15% to 21%. Hande Sekergi, chief economist at Is Asset Management, stated, "Although the central bank has stated it will not adjust its interim targets unless there are extreme circumstances, the global price shock and escalating supply issues are likely to prompt it to raise its year-end inflation target."May 13th - According to CNBC, the US Producer Price Index (PPI) saw its largest monthly increase in over three years in April, driven by continued pressure from upstream costs, indicating renewed inflationary pressures. Data released Wednesday by the US Bureau of Labor Statistics showed that the seasonally adjusted Producer Price Index (PPI) rose 1.4% month-over-month in April, far exceeding the 0.5% forecast in a Dow Jones survey and also higher than the revised 0.7% in March. This is the largest monthly increase since March 2022. Year-over-year, the PPI rose 6% in April, the highest level since December 2022. Excluding food and energy, the core PPI rose 1% month-over-month, higher than the expected 0.4%. Further excluding food, energy, and trade services, the PPI rose 0.6% month-over-month. Similar to the surge in CPI data released on Tuesday, energy prices were also the fundamental reason for the unexpectedly large increase in the April PPI data. The Bureau of Labor Statistics stated that about three-quarters of the increase in commodity prices in the PPI was driven by final demand for energy, which rose 7.8% that month. More than 40% of that increase could be attributed to a 15.6% surge in gasoline prices. That month, due to the impact of the Iran-Iraq War on the entire energy sector, U.S. gasoline prices had already well exceeded $4 per gallon.Alibaba (BABA.N) executive: By 2033, we will need 10 times the computing power of 2022.Following the release of US PPI data, the gains in the emerging market currency index narrowed.

Gold Price Prediction: The XAU/USD pair will go below $1700 after a positive NFP report, followed by the CPI

Daniel Rogers

Oct 10, 2022 11:23

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The gold price declined after the U.S. Labor Department released employment data that exceeded expectations, thereby validating the Fed's need for additional tightening and supporting the dollar. Consequently, XAU/USD is currently trading at approximately $1690, below its initial price.

 

Prior to the announcement of the US Nonfarm Payrolls report, the price of gold hovered around $1710. Gold's initial reaction to the headline, however, was a decline into the $1700 region, but this initial movement quickly vanished. In a volatile reaction, it extended its losses below $1700 at the time of typing.

 

US Bureau of Labor Statistics (BLS) data revealed that the US economy added 263K new jobs, above predictions of 250K, while the unemployment rate decreased to 3.5% from 3.7%. Even while the reading is lower than August's, it was above expectations, which would strengthen the case for a Federal Reserve rate hike.

 

In the meanwhile, money market futures have put in a 92% likelihood of a Fed rate hike of 75 basis points, up from 85.5% prior to the US Nonfarm Payrolls report.

 

US Treasury bond yields rose, with the 10-year US Treasury bond yield increasing three basis points to 3.865%, while the US Dollar Index, a measure of the dollar's value vs six other currencies, rose 0.28% to 112.565.

 

Now that the US Nonfarm Payrolls report is in the rearview mirror, the next significant events on the US calendar are the September CPI statistics and the University of Michigan Consumer Sentiment study, both of which will take place in the coming week.


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