Technical analysis by DynamicCapital-FX about Symbol PAXG: Sell recommendation (12/13/2024)

Economic Data Impacting the MarketOn December 12, 2024, the U.S. Bureau of Labor Statistics released important economic data. The Producer Price Index (PPI) rose by 0.4% in November, higher than the expected 0.2%, and showed a 3.0% increase over the year, marking the largest gain since February 2023. Additionally, the core PPI, which excludes food and energy, went up by 0.2% for the month and 3.5% annually. Initial jobless claims for the week ending December 7 reached 242,000, significantly above the expected 220,000, indicating rising unemployment. These mixed signals highlight ongoing inflation pressures alongside a weakening job market.Fed Rate Cut Expectations ShiftAccording to the CME FedWatch Tool, the probability of a rate cut by the Federal Reserve in December has decreased to 96.70% from 97.50% a day ago, signalling changing market expectations.Now active.