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Investing.com – The US Purchasing Managers’ Index (PMI) data was released today, missing expectations, which should provide further signals about the Federal Reserve’s monetary policy in the coming period.
The just-released data encourages the Federal Reserve to continue its tight monetary policy, as the three indicators rose more than expected, and also more than previous readings, indicating that the economy is still strong.
After the release of the data, its losses continued, while the index strengthened its rise.
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Important data
The index recorded 50 points in October, while experts expected 49.5 points, while the previous reading was 49.8 points.
Data came in contrary to expectations, recording 51 points, while the previous reading recorded levels of 50.2 points.
The data revealed unexpected data as well, as it recorded 50.9 points, compared to expectations of recording 49.8 points, and compared to the previous reading at levels of 50.1 points.
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Gold and dollar now
It is now falling by 0.75% to $1,973 an ounce.
Meanwhile, spot gold contracts fell by 0.55% to $1,962 per ounce.
On the other hand, the US dollar index rose by 0.65% to 106 points.
2023-10-24 13:48:00
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