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According to informed traders, the Reserve Bank of India sold dollars in the domestic foreign exchange market on Tuesday to support the rupee exchange rate.September 8th - U.S. small business confidence dipped slightly in August, with uncertainty remaining high and expectations for an improving business environment declining. The National Federation of Independent Business (NFIB) reported that its Small Business Optimism Index fell 1.1 points to 98.7 in August. Despite the decline, the reading remains above the 52-year average and previously reached its highest level since August 2025 in July. The NFIB survey provides a monthly snapshot of U.S. small businesses, which account for nearly half of private sector employment, are generally more sensitive to price fluctuations, interest rate hikes, and macroeconomic uncertainty than larger businesses. NFIB Chief Economist Bill Dunkelberg stated that small business owners face a mix of challenges, including weak sales, supply chain disruptions, and inflationary pressures, and uncertainty remains high. The Uncertainty Index fell 2 points to 89 in August, but remains above the historical average of 68.The U.S. NFIB Small Business Confidence Index for August was 98.7, down from 99.8 in August.September 8th - According to Coherent, the company will showcase its innovative products and full-stack photonic solutions for AI computing power, data centers, and high-speed optical communications at the 2026 China International Optoelectronic Exposition (CIOE), demonstrating how photonic technology empowers high-speed interconnectivity and computing power upgrades in the AI era. In the area of high-speed rack interconnects, the company will cover diverse technology routes including silicon photonics, VCSEL multimode, and InP, with its booth featuring solutions such as 6.4T slot-type CPO, 1.6T VCSEL NPO, and 12.8T XPO.A Ukrainian drone strike in Russias Kursk region killed one person.

Gold Price Prediction: XAU/USD recovers within the weekly bearish trend, Covid; Treasury yields in focus

Daniel Rogers

Nov 22, 2022 14:56

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Early Tuesday morning, the gold price (XAU/USD) reaches $1,745 for the first daily increase in four. In doing so, the precious metal applauds the wide US Dollar decline during a likely sluggish day preceding Wednesday's crucial data/events.

 

Consequently, the US Dollar Index (DXY) falls intraday by 0.25 percent to 107.55, halting a three-day rally. Recent challenges to the hawkish concerns surrounding the US Federal Reserve are reflected in the dollar's metric, which tracks US Treasury yields (Fed).

 

The US 10-year Treasury yields decline for the first time in four days, falling one basis point to around 3.81% as of press time, as the most recent remarks from Federal Reserve (Fed) members fail to buttress the previously hawkish attitude.

 

In a CNBC interview, Loretta Mester, president of the Federal Reserve Bank of Cleveland, stated, "I think we can ease down from 75 in the December meeting." Previously, Atlanta Federal Reserve President Raphael Bostic rejected the 75 basis point move and challenged the DXY bulls. In addition, October readings of -0.05 for the Chicago Fed National Activity Index, compared to the prior reading of 0.17, posed a challenge to US Dollar bulls.

 

On the other hand, a seven-month high in daily coronavirus cases from China rekindled fears of a supply bottleneck and gave US Dollar purchasers optimism ahead of tomorrow's preliminary monthly activity data and Federal Open Market Committee (FOMC) Meeting Minutes.

 

In addition, the most recent articles from Nikkei Asia imply that China is likely hoarding the metal while selling US Treasury bonds, which gives buyers of gold reason for optimism.

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