EUR/USD 1.16897
-0.069%
Gold 3445.53
-0.199%
Oil 63.710
0.016%
USD/JPY 147.032
0.052%
GBP/USD 1.35078
-0.052%
GBP/JPY 198.582
-0.012%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
US President Trump: In just 12 days, Washington has become a crime-free zone!According to the New York Times: The United States has suspended issuing visas to Palestinian passport holders.According to preliminary monitoring by the European-Mediterranean Seismological Center, a magnitude 6.1 earthquake occurred in the Hindu Kush Mountains region in northeastern Afghanistan at 23:47 local time on August 31.The coming weeks will be a critical period for the US stock market, one that will determine whether its latest rebound can continue. Employment data, key inflation indicators, and the Federal Reserves interest rate decision will all be released over the next 14 trading days, setting the market tone for investors. The stock market appears to be at a crossroads: the S&P 500 just posted its weakest monthly gain since March, with September historically its worst month. Meanwhile, market volatility has all but vanished. The VIX index, a fear index, has only touched the key 20 level once since late June. "Investors are right to be cautious in September," said Thomas Lee, head of research at Fundstrat Global Advisors. "The Fed is resuming a modest rate-cutting cycle after a long pause, making it difficult for traders to determine their positioning." The long-term US stock bull predicts the S&P 500 will fall 5% to 10% this fall before rebounding to between 6,800 and 7,000 points.European Commission President Ursula von der Leyen: The EUs new 150 billion euro plan to accelerate investment in the EUs defense industry will benefit Poland the most.

Gold Price Forecast: XAU/USD views $1,800 as upbeat US labor market fuels hawkish Fed wagers

Alina Haynes

Mar 09, 2023 13:55

27.png 

 

Gold price (XAU / USD) appears vulnerable above $1,810.00 as the upside appears constrained by rising Federal Reserve rate expectations (Fed). The precious metal is anticipated to resume its decline as strong United States Employment data reported by Automatic Data Processing (ADP) has confirmed that January's strong consumer spending and higher payrolls were not a one-time blow to the Consumer Price Index's decline (CPI).

 

S&P500 futures have given up the slight gains they made on Wednesday during the Asian session. As China's CPI and Producer Price Index (PPI) figures indicate deflation, the risk-aversion theme has intensified. The US Dollar Index (DXY) has maintained a sideways trend above 105.20 as investors await the publication of US Nonfarm Payrolls (NFP) data for fresh direction signals. The alpha provided by 10-year US Treasury bonds has risen above 3.98 percent.

 

The official US Employment data is expected to indicate a decline in the payrolls to 203K from the former release of 514k. A figure of 203K is not as terrible as January's 514K figure, but it appears insignificant in comparison. Investors should be aware that a figure of 514K in the last seven months was exceptional.

 

Aside from that, it is anticipated that the unemployment rate will remain at a multi-decade low of 3.4%. The Average Hourly Earnings are expected to ascend to 4.8% on an annual basis. Household income may increase consumer expenditure. Jerome Powell, the chairman of the Federal Reserve, has already confirmed that the Fed will increase interest rates in order to reduce inflation.


Suggestion