Weekly data: Oil and Gold: Price review for the week ahead
By Antreas Themistokleous, Exness Market Analyst
AI summary of the source article
Oil traded near $90 as Persian Gulf exports recovered to 17.5 million barrels daily, while gold held below $4,200. Markets are awaiting key economic indicators, including US inflation, British GDP, US PPI, and a speech by Kevin Warsh.
Why it matters
Kevin Warsh's upcoming speech ahead of the two-day meeting "could help markets have 'less uncertainty' about the outcome of the meeting."
Key facts
- Persian Gulf crude exports recovered to around 17.5 million barrels a day, reaching 98% of pre-war levels.
- Crude oil traded around $90 with resistance at $91, while gold traded below $4,200.
- Market consensus projects September US inflation to reach 3.7% and US PPI to rise to 0.5%.
Source excerpt · FinanceFeeds
This preview of weekly data examines USOIL and XAUUSD, with economic data expected later this week as the primary market drivers of the near-term outlook. Highlights of the week: RBA meeting minutes, US inflation, British GDP, US PPI Tuesday RBA meeting minutes at 12:30 AM GMT. These are published 2 weeks after the interest rate decision. They give full detail of the discussions and the different…