Empire State Manufacturing Survey

Consecutive published data says the US economy is growing well

That means MORE rate hikes coming up!!!!

By 25 basic points

What the fuck is goin on? All positive for the USD in terms of economic datat since last wednesday until tonight but why the gold is so strong? I lost my acount following the fundamentals.

maybe the fed will hold the rates

- Business activity in New York State was almost unchanged, as the general business conditions index rose slightly from -19.0 in August to 1.9 in September. This means that the manufacturing sector was still struggling to recover from the sharp decline in August, possibly due to the new wave of COVID-19 cases and lockdown measures.

- New orders and shipments increased, indicating that the demand and supply of goods improved slightly. However, delivery times remained steady and inventories continued to contract, suggesting that some manufacturers faced supply chain disruptions and shortages of raw materials and finished products.

- Labor market indicators pointed to a slight decline in employment levels and the average workweek, indicating that some manufacturers reduced their workforce or working hours, possibly due to labor shortages, lower demand, or health and safety concerns.

- The pace of input price increases was similar to last month, indicating that manufacturers continued to face high costs of inputs such as energy, metals, and chemicals. The selling price increases picked up, indicating that some manufacturers passed on some of their costs to their customers.

- Looking ahead, firms continued to grow more optimistic about the six-month outlook, indicating that they expected the business conditions to improve in the near future, possibly due to the easing of COVID-19 restrictions, the stimulus package from the federal government, and the pent-up demand from consumers and businesses.

And gold goes up, unbelivable

And DXY goes down. Doubly unbelievable !

why did gold goes up when usd is strong?

I am stopped out of DAX= triple unbelivable

that's what they want to make you believe. they need to trap enough retailers first before reversal

Sorry to hear but you shouldn’t be trusting only fundamentals rather you should’ve also considered price action

USD will come back soon.Dont worry . Let's buy USD

Gold prices rose above $1,910 an ounce on Friday, but were still set to end the week little changed, as investors continued to assess the economic and monetary policy outlook globally.

Gold prices came under pressure earlier in the week as the dollar gained on robust US economic data which bolstered bets that the Federal Reserve will keep its monetary policy restrictive for some time. Traders are still betting that the Fed would hold rates steady next week, while the central bank’s next policy move in November remains up for debate.

The European Central Bank implemented another 25 basis point rate hike on Thursday, in what analysts believe is its last hike in the current tightening cycle. The ECB said that inflation pressures are likely to be transitory and that it will maintain an accommodative stance until the inflation outlook converges to its target of close to but below 2 percent.

The People’s Bank of China cut the reserve requirement ratio by 25 basis points for all banks effective September 15 to keep ample liquidity and support a nascent economic recovery. The PBOC said that the move is not a change in its prudent monetary policy and that it will continue to implement targeted measures to help small and medium-sized enterprises and other sectors affected by the COVID-19 pandemic.

This is not the first nor the last time you'll see positive news for some currency, but currency falls as a response. Do news matter? Not at all. News: manipulation time for big players to screw up retail traders.

Focus 100% of your energy on TA and 0% on the fundamental and you're good to go. Forget the news!
Don't be in the position when news are coming out and that's it.

GL!


Trust me! I spent SOOOOO much time figuring out the news and what would probably be the case etc.. etc... and it was never useful at all. Following the news puts and giving them importance will create a scenario in your head which will be very costly in the end.

Let's say you see good news for USD. You bet on USD and you're convinced due to good news that USD should go up. You see USD falls on the news.. ok... you say to youself, well this is only a retracement it'll probably come back around and then... it doesn't. Why? Noone knows and whoever says he does know is talking bullshit. You'll also find out that there is always a reason! There isn't a reason and never will be. It's just that people cannot accept that some things just don't make sense. People always have to make sense of everything, otherwise they become lost and anxious. THERE IS NO SENSE IN EVERYTHING, ESPECIALLY THE NEWS. Do you really think some big investors are like: OMG, Empire State Manufacturing came in higher, I think it's time to invest into USD? Of course not... lol. They don't give a shit about the stupid news that are coming out every day. They don't close or open their positions because some news is good or bad, otherwise they would be entering and exiting almost every single day which is ridiculous.

Again.. GL with your trading, focus 100% of your time on TA and money management. The rest, you don't need to make money.

Also, why do people follow the news and bet on the news? They want quick money. So, the next time you want a quick money, be prepared to lose it as quickly also! Forget about it if you want to make it in this bussiness!

TW

Sometimes things just don't make sense, but you're also missing a key component here buddy.. What the market expected was going to happen... How does my expectation differ from the consensus.

See "second-level thinking" in this classic: https://www.oaktreecapital.com/docs/...s-not-easy.pdf

TW keep up, you are a king, you always make true sense. TW, have you read the chart? From TA, it seems, something may happen this week. Thanks. I hope to hear from you.