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U.S. Energy Secretary Wright deleted a post about "the U.S. Navy escorting an oil tanker through the Strait of Hormuz".On March 11, U.S. House Speaker Boris Johnson downplayed concerns about soaring gasoline prices during the U.S. military action against Iran, calling it a "temporary fluctuation" that would resolve quickly after the conflict ended. When asked if Americans could tolerate gasoline prices exceeding $5 per gallon, Johnson dismissed such concerns. He said, "I think the scope and mission of this operation were carefully designed and limited. I think the mission is being completed, almost completed. And the Commander-in-Chief himself has indicated in the last 24 hours that the operation is nearing its end, so gasoline prices will adjust afterward." He indicated that the rise in natural gas prices was largely due to the closure of the Strait of Hormuz by "the regime there," adding, "The Strait of Hormuz will reopen, which will take a few weeks, and natural gas prices will fall back down." Johnson continued, "So this is just a temporary fluctuation in the extraordinary trend of Americas return to energy dominance. The evidence speaks for itself, and it will continue to do so."Trump may order a severing of ties with artificial intelligence company Anthropic later this week.U.S. Energy Secretary: President Trump is maintaining global energy stability amid military action against Iran. The U.S. Navy successfully escorted an oil tanker through the Strait of Hormuz to ensure a continued flow of oil into global markets.U.S. Energy Secretary: U.S. Navy escorts oil tankers through the Strait of Hormuz.

Gold Price Prediction: The XAU/USD pair will fall below $1870 as yields rise ahead of Fed Chair Powell's speech

Alina Haynes

Jan 10, 2023 14:55

截屏2023-01-09 下午5.31.06_1024x576.png

 

In the Tokyo session, the gold price (XAU/USD) has fallen below the immediate resistance of $1,870.00. The precious metal has broken through the consolidation formed in the band of $1,870.00-1,881.50 as demand for US government bonds deteriorates ahead of the speech by Federal Reserve (Fed) chairman Jerome Powell on Tuesday.

 

The 10-year US Treasury yields have risen beyond 3.54 percent, dampening risk appetite. Meanwhile, S&P500 futures have become volatile following a sell-off late in Monday's session, signaling caution in establishing positions in risky assets. The US Dollar Index (DXY) is anticipated to attempt a break above the immediate resistance of 103.00 into the auction area.

 

Investors anticipate Fed Powell's speech for fresh cues, as it will provide a head start for the entirety of CY2023. Despite a sharp reduction in December wage inflation, some Fed policymakers continue to endorse a terminal rate prediction of 5.00-5.25%.

 

Mary Daly, president of the San Francisco Fed Bank, argued that interest rates between 5% and 5.25 percent are fair. Also, the president of the Atlanta Federal Reserve bank, Raphael Bostic, anticipates an interest rate peak in the range of 5% to 5.25 percent and the continuation of higher interest rates through CY2023.

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