(Bulls dominate intraday price action)Gold vs US DollarPEPPERSTONE:XAUUSDAvaTaylor📈 (Bulls dominate intraday price action) 📉 Weak US data + falling US Treasury yields significantly revive expectations of rate cuts US initial jobless claims reached 219,000, exceeding the expected 210,000 and hitting a two-month high, clearly signaling a cooling labor market. Core PCE data met expectations, the downward trend in inflation remains unchanged, and coupled with the continued plunge in crude oil prices, inflationary pressures have eased significantly. The 10-year US Treasury yield fell to 4.22%, the US dollar index fell below 99, and declining real interest rates + a weaker dollar have brought the financial pricing logic for gold back into play. 🏦 CME interest rate futures show that the probability of a rate cut in June surged from 22% to 38%, with market expectations for a Fed rate cut this year continuing to strengthen, directly boosting the confidence of gold bulls.