European Stocks Rally on Chinese Growth and Mining Merger Speculation 
U.S. Treasury Yields Expected to Decline Amid Cooling Economic Pressures 
UBS Predicts Potential Fed Rate Cut Amid Strong US Economic Data 
Stock Futures Dip as Investors Await Key Payrolls Data 
U.S. Stocks vs. Bonds: Are Diverging Valuations Signaling a Shift? 
Goldman Predicts 50% Odds of 10% U.S. Tariff on Copper by Q1 Close 
Oil Prices Dip Slightly Amid Focus on Russian Sanctions and U.S. Inflation Data 
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
China’s Growth Faces Structural Challenges Amid Doubts Over Data 
S&P 500 Relies on Tech for Growth in Q4 2024, Says Barclays 
U.S. Banks Report Strong Q4 Profits Amid Investment Banking Surge 
Moldova Criticizes Russia Amid Transdniestria Energy Crisis 
Urban studies: Doing research when every city is different 
China's Refining Industry Faces Major Shakeup Amid Challenges 
US Futures Rise as Investors Eye Earnings, Inflation Data, and Wildfire Impacts 
Wall Street Analysts Weigh in on Latest NFP Data 
Global Markets React to Strong U.S. Jobs Data and Rising Yields 
dxdIchimoku Analysis (4 Hour chart)
Tenken-Sen- $2336.37
Kijun-Sen- $2322.10
Gold pared some of its gains after upbeat US inflation. It hit a high of $2352 yesterday and is currently trading around $2332.63.
US economic data
US PCE- Positive (Bearish for Gold)
UoM consumer sentiment- Weak (Positive for gold)
According to the CME Fed watch tool, the probability of a no-rate cut in June increased to 88.40% from 88.9% a week ago.
Economic data for the week
Apr 30th, 2024, Chicago PMI (1:45 pm GMT)
US CB consumer confidence (2 pm GMT)
May 1st, 2024, ADP employment change (12:15 pm GMT)
US ISM manufacturing PMI (1:45 pm GMT)
Federal funds rate (6:00 pm GMT)
May 2nd, 2024, US Initial jobless claims (12:30 pm GMT)
May 3rd, 2024, US Non-farm payroll (12:30 pm GMT)
US dollar index- Bullish. Minor support around 105.80/105. The near-term resistance is 106.50/107.40.
Factors to watch for gold price action-
Global stock market- Bearish (positive for gold)
US dollar index - Bullish (negative for gold)
US10-year bond yield- Bullish (negative for gold)
Technical:
The near–term support is around $2300, a break below targets of $2260/$2225/$2195. The yellow metal faces minor resistance around $2350 and a breach above will take it to the next level of $2375/$2400/$2420/$2450.
It is good to sell on rallies around $2368-70 with SL around $2400 for TP of $2200.
