From Investing.com: 2024-05-31 03:15:00

Today’s PCE Data May Define the Gold Trend as XAU/USD awaits US Personal Consumption Expenditure Price Index data release at 12:30 p.m. UTC. Recent reports show the US economy grew slower than expected in Q1, leading to doubts about a future rate cut. Reserve Bank of India increasing gold reserves, spot gold price at 2,343. PCE numbers will impact the US dollar and gold price movement.

Key Inflation Reports Will Affect Euro as EUR/USD rises and USD weakens despite cautious risk sentiment. US GDP growth slowed to 1.3% in Q1, with chances of a Fed rate cut in November increasing. EUR/USD decreases during Asian trading session, with inflation reports from eurozone and US playing a crucial role in defining the trend.

Bitcoin Rises as US Dollar Weakens and bond yields decline. SEC and U.K. regulators propose ‘digital securities sandbox,’ signaling a more supportive stance on digital assets. Collaboration could lead to a globally coordinated regulatory framework, boosting Bitcoin’s attractiveness. BTC/USD fluctuates in Asian and early European trading, with US PCE data release expected to impact price movement.



Read more at Investing.com: Gold, Euro Cautious Ahead of Key Economic Reports; Bitcoin Rises on Weak US Dollar