EUR/USD 1.14607
-0.124%
Gold 4375.41
0.779%
Oil 96.015
-0.519%
USD/JPY 157.845
1.203%
GBP/USD 1.33452
-0.093%
GBP/JPY 210.657
1.114%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Fitch: Romanias protracted political crisis could impact its rating.September 18th - As Saudi Arabia faces increasingly fierce attacks from the Houthi rebels in Yemen, Pakistans response, as an ally with a joint defense agreement, has drawn significant international attention. A Pakistani military spokesperson stated in an interview on the 17th that Pakistan will support Saudi Arabia "at all costs," including assisting in the defense of the holy cities of Mecca and Medina. Pakistani military spokesperson Ahmed Sharif Chaudhry said in an interview that Pakistan will support Saudi Arabia "diplomatically and in concrete actions," and "will spare no effort to protect the holy sites and the security of the Kingdom of Saudi Arabia."AstraZeneca (AZN.O) India has been fined 188,000 rupees for a late form submission.September 18th - Data from multiple travel platforms shows that the inbound tourism market continued its growth trend during this years Mid-Autumn Festival and National Day holidays, exhibiting new characteristics of diversified tourist source structure and deeper destination penetration. Ctrip data shows that inbound tourist arrivals will maintain double-digit growth during the combined Mid-Autumn Festival and National Day holiday. The expansion of the tourist source map is a prominent feature of this years inbound tourism during the holidays. Russia jumped to become the number one source country with a growth rate of 173%, followed by markets such as the UK, Malaysia, and Canada with growth rates exceeding 50%. The source structure of inbound tourism is rapidly expanding from traditional East Asian neighbors to Europe and Oceania. The continued buzz surrounding "ChinaTravel" on global social media has provided a foundation for this change. Industry analysts believe that the growth momentum of the inbound tourism market is shifting from policy dividends to a dual-engine approach of "policy + content." For local areas, the ability to transform local cultural resources into experiential and shareable cultural tourism products will affect their competitiveness in the inbound tourism market.Swedish bank: It will include approximately 500 million Swedish kronor in credit losses for revaluation in the third quarter.

Gold Price Prediction: XAU/USD declines toward 200-SMA retest as yields support US Dollar recovery

Alina Haynes

Mar 02, 2023 15:52

253.png 

 

During the first day of losses in four prior to the European session, the gold price (XAU/USD) oscillates around the intraday low of $1,831. In doing so, the precious metal validates the stronger US Dollar and risk-averse market sentiment on a slow Thursday.

 

US Dollar Index (DXY) rebounded from a one-week low to 104.60 at the latest, up 0.17 percent intraday, as greenback supporters tracked robust US Treasury bond yields and cheered sour sentiment amid hawkish Federal Reserve (Fed) talks. The increase in US Treasury bond yields reflects the market's apprehension, which has recently pressured Wall Street investors and weighed on S&P 500 Futures. On the same side may be the ardent Minneapolis Federal Reserve (Fed) President Neel Kashkari, as well as the policymakers of the Bank of England (BoE) and the European Central Bank (ECB).

 

Gold purchasers are encouraged by the recent improvement in China's economic data and the country's policymakers' upbeat remarks. China's Minister of Human Resources recently stated, "China's employment will continue to increase this year and remains stable overall." On Wednesday, China's Finance Minister Liu He expressed a willingness to increase the country's fiscal expenditure while noting that the foundation of China's economic recovery remains fragile.

 

Moving on, G20 updates could be combined with central banker comments and US secondary data to amuse XAU/USD traders.


Suggestion