July 26, 2019

Gold is currently up $3.60 at $1,418.00 as it tries to find direction amid divergent economic data. The ECB held interest rates steady but promised future easing due to slowing growth. Meanwhile, the Fed is expected to cut rates next week, but positive economic data yesterday and today may influence the extent of the cut.  Jobless claims, durable goods orders, and Q2 GDP all beat estimates. The U.S. dollar is trading at a 2-month high even as the Fed is likely to cut interest rates for the first time in over a decade next week.