EUR/USD 1.17563
0.117%
Gold 4757.34
0.791%
Oil 89.271
-0.426%
USD/JPY 159.262
-0.071%
GBP/USD 1.35273
0.149%
GBP/JPY 215.442
0.090%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
April 22nd - The Middle East conflict has led to rising global aviation fuel costs, putting pressure on airlines. According to data from aviation analytics firm Rescommend, 19 of the worlds 20 largest airlines plan to cut flights in May. Rescommends analysis shows that global airlines planned capacity in May is down by about 3% compared to early March. The agency previously predicted that global capacity would grow by 4% to 6% for the whole year, but now judges that in some cases, full-year capacity may even decline, by as much as 3%. On Tuesday, local time, Lufthansa announced that it would cancel approximately 20,000 flights between May and October. Furthermore, Lufthansa stated that it would suspend some low-profit routes from Munich and Frankfurt from now until around mid-October. Lufthansa stated that aviation fuel prices have doubled since the outbreak of the Middle East conflict. The latest measures may help it save approximately 40,000 tons of aviation fuel.French Prime Minister Charles Le Corny stated that in response to rising fuel prices due to the international situation, the government has launched a special assistance program for "frequent drivers." This assistance is aimed at workers who need to use private cars for work and cannot bear the pressure of rising costs alone. This targeted and temporary assistance aims to provide simple and clear support for employment and protect low-income groups.Sources say the Sizlan oil refinery in Russia has halted oil processing following the drone attack on April 18.Tesla (TSLA.O) executive: Model YL deliveries will begin in India this quarter.April 22 – It was learned today that during a recent on-site inspection of drugs overseas, the National Medical Products Administration (NMPA) discovered that two Indian companies had implemented changes to their colchicine raw material production processes without obtaining approval or filing as required by relevant Chinese laws and regulations, which does not comply with the requirements of my countrys Good Manufacturing Practice (GMP) for pharmaceuticals and its appendices. Based on the Drug Administration Law of the Peoples Republic of China and other regulations, the NMPA has decided to suspend the import of colchicine raw materials from these two companies, effective immediately. These raw materials are prohibited from sale in my country and from use in pharmaceutical preparations. Drugs already produced using these raw materials will not be released. For drugs already marketed, the NMPA requires marketing authorization holders to immediately conduct investigations and assessments, and take necessary risk control measures based on the assessment results.

Gold Price Forecast: XAU / USD flirts with $1,850 support convergence; Fed's Powell, US NFP in focus

Daniel Rogers

Mar 06, 2023 14:40

 255.png

 

Gold price (XAU/USD) remains mostly illiquid around $1,855 as traders brace for the key data/events during early Monday in Europe. Adding filters to the XAU/USD movements could be the muddled headlines from China, as well as the US Dollar’s inaction despite a pullback in the Treasury bond yields.

 

The National Development and Reform Commission of the People's Republic of China (NDRC) recently stated that it "Will further discharge the potential for consumption," adding that China's economy is consistently improving, as reported by Reuters. Earlier in the day, market sentiment deteriorated after China's National People's Congress (NPC) annual session appeared to be a gloomy event due to its development target and geopolitical concerns.

 

Elsewhere, San Francisco Federal Reserve Bank President Mary Daly highlighted the significance of incoming data to determine how high the rates can go. Previously, Atlanta Fed President Raphael Bostic renewed concerns about the Fed’s policy pivot while Federal Reserve published a semi-annual Monetary Policy Report on Friday wherein it plainly said, “Ongoing increases in the Fed funds rate target are necessary.” In addition, the report stated that the Fed is committed to restoring inflation to 2%.

 

It should be noted that US 10-year Treasury bond yields rose to their highest levels since November 2022 in the previous week before falling to 3.95% by the end of Friday and circling back to the same level at the latest. More significantly, US two-year bond coupons increased to levels not seen since 2008 before retracting to 4.85% as of press time. That said, the S&P 500 Futures print mild gains, mirroring Wall Street’s movements amid a light sluggish start to the key week, whereas the US Dollar Index (DXY) remains depressed around 104.45, down 0.05% intraday by the press time.

 

Moving ahead, Gold traders may witness further inaction in the market as traders remain cautious before the key events including Fed Chair Jerome Powell’s Testimony, China’s inflation data and Friday’s US employment report for February.


Suggestion