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On June 16, Israeli Prime Minister Benjamin Netanyahu said on June 15 that Israel "does not know" the specific contents of the agreement reached between the United States and Iran. Netanyahu stated that regardless of whether an agreement is reached, "Iran will not possess nuclear weapons." He also said that the Israeli attack caused "enormous damage" to Iran.Hang Seng Index futures closed down 0.13% at 24,799 points in overnight trading, a discount of 44 points.As of the 2:30 closing bell, the main Shanghai gold futures contract rose 1.77%, the main Shanghai silver futures contract rose 2.49%, and the main SC crude oil futures contract fell 1.96%.June 16th - Nvidia is expected to raise $25 billion through an investment-grade bond issuance, with subscription demand exceeding three times the planned offering size, highlighting investors eagerness to profit from artificial intelligence. According to sources familiar with the matter, the bond issuance attracted subscriptions of up to $85 billion. Other sources indicated that Nvidia will issue the bonds in seven tranches with maturities ranging from 2 to 30 years. The sources also stated that the yield on the longest-term bond is priced approximately 0.65 percentage points higher than the yield on US Treasury bonds. The sources further indicated that the funds raised will be used for purposes such as refinancing existing debt. This will be Nvidias first investment-grade bond issuance in five years.Israeli Prime Minister Benjamin Netanyahu: We will take all necessary measures to prevent Iran from acquiring nuclear weapons. Our goal remains unchanged.

Gold Price Prediction: XAU/USD struggles to extend gains on encouraging ADP Employment data from the United States

Daniel Rogers

Jan 06, 2023 11:12

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After falling to almost $1,825.00 during the late New York session, the gold price (XAU/USD) has tried a recovery. The precious metal is battling to continue its rebound as robust United States Automatic Data Processing (ADP) Employment Change data has prompted the risk of the Federal Reserve (Fed) maintaining higher interest rate stability for an extended duration.

 

S&P500 suffered a major sell-off from the market participants, displaying a risk-aversion theme, as bigger additions of fresh payrolls in the United States job market will require the Fed to sustain its aggressive position on interest rates for a longer term. This has also caused a possibility of recession in the US economy. The Employment Change (Dec) jumped to 235K in contrast to the predicted 150K and the previous release of 127K. In addition, the weekly Initial Jobless Claims (IJC) have decreased to 204K compared to the expected 225K.

 

The US Dollar Index (DXY) achieved a roaring rally after sustaining above the important resistance of 104.00 and rose to reach 105.00. In addition, 10-year US Treasury yields detected demand and rose to approximately 3.72 percent.

 

Investors will closely monitor Nonfarm Payrolls (NFP) data on Friday. After noticing optimistic signals from ADP Employment Change, it is quite likely that the US NFP will report data that exceeds expectations. The unemployment rate is expected to remain unchanged at 3.7%.


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