Gold dealers with strong operational strength will do everything possible to provide customers with one-stop investment services, and comprehensive information services include the "financial calendar" function on the official website. With this "calendar", investors no longer need to "run around" on the Internet, and can know at a glance which economic data and events will stimulate the performance of international gold prices in the coming days.
In the third full trading week in September, the foreign exchange gold market will usher in the US August housing starts data (Tuesday 23:30), the federal funds benchmark interest rate (Thursday 2:00), New Zealand cash rate (Thursday 5:00 00) and the final value of France's second-quarter GDP (14:45 on Friday) and other important economic data from various countries.
U.S. housing starts are a good leading indicator of U.S. economic activity and are therefore included in major economic indicators. It has a positive impact on the US dollar exchange rate, because the increase in housing starts and building permits is theoretically a positive factor for the US dollar, so it will promote a stronger US dollar and thus be negative for gold prices. Conversely, if the data falls or is lower than expected, it will put pressure on the dollar and be bullish for gold prices.
As for the interest rate decisions of the central banks of the United States and New Zealand, it can be attributed to the impact of currency interest rate factors on gold prices. If the U.S. dollar raises interest rates, it will directly lead to the strengthening of the U.S. dollar, and the international gold price denominated in U.S. dollars will be directly suppressed. Although the impact of the New Zealand dollar on gold prices is relatively weak, it is closely related to the currency of Australia, the third largest gold producer, while the Australian dollar has an 80% positive correlation with gold prices, so the New Zealand dollar's interest rate hike has a certain impact on gold prices. play a supporting role.
The GPD data of major countries in the world are also important economic data that cannot be ignored in spot gold trading. Good GDP growth indicates that economic conditions are improving, which is negative for gold prices. Investors especially need to pay attention to the release time of the GDP data of some important countries in the trading disk, because they will have a significant impact on the price of gold.