Euro zone data is weak Decline or already a foregone conclusion

goldaspect:

Overnight gold continues to maintain a strong upward momentum and has a tendency to refuse adjustments. The market's bullish sentiment towards gold is also increasing. The severe inversion of US bond yields in the early stage has caused market panic, and the latest data from the Eurozone is also quite unfavorable.

The focus of the early market was mainly on the US economy. In theory, once the US bond yield is inverted, the US economy will generally experience a recession, especially in the Eurozone6OfPMIThe value may indicate that the scope of recession is expanding, and concerns about the economy may further ferment.

France6Monthly service industryPMIThe final value is only48Has already fallen below the withered glory line. Eurozone6Monthly service industryPMIThe final value is also from the previous value52.4fall to52And the eurozone5monthPPIMonthly rate is-1.9%Combined with other economic data from earlier periods, the likelihood of an economic recession in the eurozone is already certain.

Technical aspect: The golden daily trend reduces the bearish trend, forming a combination of yin and yangKThe combination of lines significantly suppresses the pressure level.1The hourly cycle of rising structure is completed, with a trend of initially rising and then falling within the day, with a focus on falling. Suggest following above1920The pressure on the US dollar.