XAUUSD: Under pressure from US economic data

3 Eki 2023

On October 2, the US continued to announce a series of positive economic information.

Specifically, the purchasing managers index (PMI) of the manufacturing sector increased from 47.6 points in August to 49 points in September. The ISM new production orders index also increased from 46.8 points in August. up 49.2 points in September.

Although it has not yet reached the expansion level of 50 points, this is the second month that the PMI index has increased continuously from 46 points in July. This shows that the world's largest economy is expanding the scale of its sector. production sector.

3 Eki 2023

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In addition to positive economic and employment information, on October 2, Member of the Federal Open Market Committee (FOMC) Michelle W. Bowman gave a speech reinforcing the information of the Federal Reserve's further interest rate increase. US Federal Reserve (Fed).