CPI Moderation Lifts Gold to 2-Month High; U.S. PPI in Focus

Today’s focus: UK Q2 GDP, a direct test of the economy’s resilience. Preliminary YoY GDP is forecast at 1.1% (prior 0.9%). Stronger growth would support GBP. U.S. July PPI is forecast at 4.9% (prior 5.5%). If cooling as expected, it would extend the CPI‑driven trend.
ATFX | 83 hari yang lalu

ATFX Market Outlook - 13th August 2026

 

CPI Moderation Lifts Gold to 2-Month High; U.S. PPI in Focus

 

(By ATFX Analyst Team)

 

Key Takeaways

U.S. July CPI rose just 0.1% MoM, with YoY easing to 3.4%, in line with expectations. Gasoline prices fell for the second month, while underlying inflation pressures remained mild, further reducing the likelihood of a Fed rate hike next month. U.S. equities closed mixed Tuesday, while gold hit a two‑month high.

 

Today’s focus: UK Q2 GDP, a direct test of the economy’s resilience. Preliminary YoY GDP is forecast at 1.1% (prior 0.9%). Stronger growth would support GBP. U.S. July PPI is forecast at 4.9% (prior 5.5%). If cooling as expected, it would extend the CPI‑driven trend.

 

Global Market Review

S&P 500 and Nasdaq rose on Wednesday, supported by mild inflation and strong earnings from CoreWeave and other AI infrastructure firms—Dow ‑0.04%, S&P 500 +0.26%, Nasdaq +0.54%.

 

Dollar index +0.17%.

 

Gold +0.9% to $4,407.06/oz, highest since June 5.

 

Oil slipped slightly, pressured by ongoing Middle East ship attacks and stalled U.S.–Iran peace talks.

 

Key Events Today:

14:00 GB GDP Prel Q2 ***

14:00 GB Industrial Production JUN **

17:00 EU Industrial Production JUN **

20:30 US PPI JUL ***

20:30 US Initial Jobless Claims ***

 

August 14(GMT+8)

07:30 RBA Gov Bullock Speech ***

17:00 EU GDP 2nd Est Q2 ***

20:30 US Retail Sales JUL ***

22:00 US Michigan Consumer Sentiment Prel AUG ***

 

EURUSD

Resistance: 1.1551 / 1.1567

Support: 1.1503 / 1.1488

EUR/USD fell for the third day, closing at weekly lows despite softer U.S. inflation, as U.S.–Iran talks stalled.

Analyst View: Trading near range bottom. Watch Eurozone industrial output and U.S. PPI to see if the pair holds above 1.1500.

Bias: Slightly pressured

 

GBPUSD

Resistance: 1.3558 / 1.3591

Support: 1.3449 / 1.3416

GBP/USD moved toward mid‑July highs, aided by softer U.S. inflation. Focus now on UK GDP.

Analyst View: Rebounded then fell after hitting 1.3546 resistance—trading below 1.3500. UK GDP and U.S. PPI will decide the next move.

Bias: Wait-and-see

 

USDJPY

Resistance: 160.05 / 160.89

Support: 158.73 / 158.06

USD/JPY fell, then rebounded, closing at its highest since late July, near 159.50.

Analyst View: Bulls hold short‑term edge, but resistance at 160 may cap gains. Likely consolidating near weekly highs.

Bias: Range mode

 

US Crude Oil Futures (SEP)

Resistance: 85.07 / 86.94

Support: 80.61 / 79.11

Oil slipped yesterday amid Strait uncertainty. Iran–U.S. talks remain divided, sustaining supply concerns.

Analyst View: Still near weekly highs. Holding above $81 preserves rebound potential.

Bias: Mild adjustment

 

Spot Gold (XAU/USD)

Resistance: 4463 / 4504

Support: 4396 / 4364

 

Spot Silver (XAG/USD)

Resistance: 67.54 / 68.54

Support: 64.27 / 63.29

Softer inflation reinforced expectations of the Fed holding rates in September. Gold hit two‑month highs, hovering near $4,400.

Analyst View: Uptrend channel intact. Could test $4,500 if PPI aligns, but U.S.–Iran stalemate may cap upside.

Bias: Short‑term bullish

 

Dow Jones Futures

Resistance: 54,170 / 54,377

Support: 53,498 / 53,295

Dow fell for the third day, staying near weekly lows. CPI met expectations, offering no fresh momentum.

Analyst View: Downtrend line from last week’s highs is resistance. Watch support near 53,500.

Bias: Short‑term pressured

 

NASDAQ 100

Resistance: 30,204 / 30,551

Support: 29,442 / 29,107

Nasdaq rose modestly yesterday, lifted by AI stocks, though sector divergence widened.

Analyst View: Retained mild gains. May target last week’s highs if PPI supports.

Bias: Cautiously bullish

 

Bitcoin (BTC/USD)

Resistance: 64,569 / 65,125

Support: 62,762 / 62,216

The tamest U.S. inflation print in months left crypto markets flat, with Bitcoin shrugging off the data hit and extending its decline.

Analyst View: At two‑week lows, bulls defend $63k. Could rebound mildly, but a break lower risks a retest of early August lows.

Bias: Short‑term pressured

 

Enjoy trading! The content is for reference only. Please ensure that you understand the risk.

 

ATFX is a leading global fintech broker with a local presence in 24 locations and holds 10 regulatory licences and authorisations, including the UK's FCA, Australia's ASIC, Cyprus' CySEC, the UAE's CMA, Hong Kong's SFC, South Africa's FSCA, Mauritius' FSC, Seychelles' FSA, Cambodia's SERC and Colombia's SFC. With a strong commitment to customer satisfaction, innovative technology, and strict regulatory compliance, ATFX delivers exceptional trading experiences to clients worldwide.

ATFX
Tipe: STP
Regulasi: FCA (UK), FSA (Seychelles), CySEC (Cyprus), ASIC (Australia), FSCA (South Africa), FSC (Mauritius), HKSFC (Hong Kong), CMA (UAE), SERC (Cambodia)
baca selengkapnya
US Midterms: Early Democratic Senate Wins Sink Dollar and Drag Futures Lower

US Midterms: Early Democratic Senate Wins Sink Dollar and Drag Futures Lower

Markets are awaiting the outcome of the race to control Congress. The result could reshape government spending plans and regulations for technology and crypto companies. Several key races remain undecided, so stocks, bonds and currencies may swing as results come in. After the Democratic Party won early Senate races, the U.S. dollar weakened across the board in early Asian trading. U.S. stock inde
ATFX | 10 jam 13 menit yang lalu
Gold Edges Higher as Dollar Weakens Ahead of US Midterm Results

Gold Edges Higher as Dollar Weakens Ahead of US Midterm Results

🗳️ Early Democratic wins in NC and SC weaken the dollar — DXY falls to 101.7, euro rises to $1.1212. Gold edges up to $3,931 as 10Y yield drops to 4.919%. December Fed hike odds at 78%. Brent slips to $103.34, API crude draw of 5.27M beats expectations. Apple falls 1.9% on memory costs. NFP due Friday.
CPT Markets | 12 jam 27 menit yang lalu
US Midterm Elections Loom as Dollar Hovers Near One-Month Low

US Midterm Elections Loom as Dollar Hovers Near One-Month Low

🗳️ US midterms today — DXY at 101.76, near 1-month low. Brent crashed 7.6% Monday to $104.77, rebounds to $105.25 on report of US strike on Qeshm Island. Gold bounces 2.1% to $3,954 from 1-year low. ISM Manufacturing beats at 55.5. RBA expected to hike to 4.85%. JOLTS and Factory Orders due.
CPT Markets | 1 hari yang lalu