Gold Price Outlook - Potential Breakout Looming as Fed, US Data Prints and Tech Company Results Collide
2021-04-27 09:00:00
Nick Cawley,
Strategist
Gold (XAU/USD) Analysis, Price and Chart
Gold remains in a range for now.
Fed meeting, US data, and tech company earnings may drive volatility.
Gold traders need to be aware that there is a slew of potential drivers of a range breakout on the horizon, as the latest FOMC decision and outlook, US Q1 GDP numbers, and a host of big technology company results collide this week. The Federal Reserve is expected to keep all policy measures unchanged but it is chair Powell’s post-release remarks, especially on inflation and tapering, that need to be followed closely. On the data calendar, today’s consumer confidence number will be followed by the first look at US Q1 GDP on Thursday and PCE – the Feds preferred measure of inflation – on Friday. US data has been strong of late and the market forecast of Q1 GDP (6.5%) may be low, spark