EUR/USD 1.16209
-0.410%
Gold 4545.67
-2.292%
Oil 100.978
3.282%
USD/JPY 158.766
0.243%
GBP/USD 1.33180
-0.615%
GBP/JPY 211.449
-0.370%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
UAE Energy Minister: This decision was made after a comprehensive assessment of the UAE’s (crude oil) production policy and future capacity, and it was solely guided by the UAE’s national interests, its responsibility as a reliable energy supplier, and its firm commitment to market stability.The UAE Energy Minister stated that the UAEs decision to withdraw from OPEC and OPEC+ was a sovereign strategic choice rooted in the countrys long-term economic vision, its growing energy capabilities, and its consistent commitment to global energy security.On May 16, local time, the Israel Defense Forces issued a statement saying that the Israeli military was launching airstrikes against Hezbollah infrastructure targets in several locations in southern Lebanon.May 16th - The meeting between the Chinese and US leaders has drawn significant global attention. International figures expressed their expectation that, under the strategic guidance of head-of-state diplomacy, China and the US will forge a new path for proper relations between major powers in the new era, jointly creating a bright future for bilateral relations while bringing more stability and certainty to a world fraught with uncertainty. William Jones, former White House correspondent for the US magazine *Global Strategy Information*, stated that as the most important bilateral relationship in the world today, the smooth progress of the US-China relationship depends on the two leaders ability to "see the direction, grasp the overall situation, and stabilize the course." He emphasized that effective dialogue and communication are especially crucial at critical moments. "This meeting has drawn a clear roadmap for the future development of bilateral relations, once again demonstrating the stabilizing force of head-of-state diplomacy in US-China relations."On May 16, Iraqs newly appointed Oil Minister, Bassim Mohammed, stated at a press conference that Iraq exported 10 million barrels of oil via the Strait of Hormuz in April. Mohammed indicated that Iraq plans to engage in discussions with OPEC to increase the countrys crude oil production and export capacity, adding that Baghdads goal is to increase crude oil production capacity to 5 million barrels per day.

Forecast for Gold Price: XAUUSD oscillates above $1,770 as attention switches to US Retail Sales

Daniel Rogers

Nov 15, 2022 16:52

 截屏2022-09-15 下午3.06.36.png

 

During the Asian session, the gold price (XAUUSD) is fluctuating in uncharted area above the crucial barrier of $1,770.00. Amid market uncertainty preceding the US midterm elections, the precious metal has moved sideways. However, the public anticipates a decisive victory for Republicans in the House of Representatives.

 

The US dollar index (DXY) is failing to surpass the immediate barrier of 107.00 as the likelihood of the Federal Reserve (Fed) maintaining its current pace of rate hikes decline. In addition, increased demand for U.S. government bonds has caused rates to plummet. In the meantime, S&P500 futures have continued their rebound following Monday's pessimism.

 

The US Retail Sales statistics will be a focal point moving forward. According to predictions, the economic data is expected to be 0.9% compared to the previous release of 0%. The core Consumer Price Index (CPI) for the month of October decreased to 0.3% from 0.6% in the previous report. The combination of a drop in price growth and a substantial increase in retail sales shows healthy retail demand.


Suggestion