{"id":160233,"date":"2019-11-21T10:45:15","date_gmt":"2019-11-21T15:45:15","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=160233"},"modified":"2019-11-21T07:04:38","modified_gmt":"2019-11-21T12:04:38","slug":"xauusd-gold-us-dollar-analysis-soft-us-data-bullish-for-xauusd","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/11\/xauusd-gold-us-dollar-analysis-soft-us-data-bullish-for-xauusd\/","title":{"rendered":"XAUUSD Gold\/US Dollar Analysis: Soft US data bullish for XAUUSD"},"content":{"rendered":"
November 21, 2019<\/div>
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By IFCMarkets<\/a><\/strong><\/p>\n

Soft US data bullish for XAUUSD<\/strong><\/p>\n

Manufacturing and sales data indicated US economy cooled since last Fed meeting. Will the XAUUSD<\/a> continue advancing?<\/p>\n

The US-China trade dispute remains the main drag on global economy with the uncertainty driving the demand for haven assets including gold. Data after Fed\u2019s October 30 interest rate cut point to cooling of US economy: the manufacturing sector continued contraction in October albeit at slower pace as ISM Manufacturing Index edged up to 48.3 from 47.8 in September, though services sector expansion accelerated. Retail sales growth slowed to 3.1% over year in October from 4.1% in September, and industrial production decline accelerated to 1.1% from 0.1% in September. And trade talks have hit a snag after reports Monday Beijing is pessimistic about trade deal following President Trump\u2019s denial of agreeing about tariff rollback which China thought sides had agreed in principle. Next day US Senate approved a bill to support human rights in Hong Kong. China promptly threatened \u201cstrong countermeasures.\u201d Soft economic data and continued trade uncertainty is bullish for gold prices.<\/p>\n

\"XAUUSD<\/p>\n

On the daily timeframe the XAUUSD:D1<\/b> is rising to test 100-day moving average MA(100) which is rising.<\/p>\n