EUR/USD 1.13522
-0.250%
Gold 4077.26
-0.800%
Oil 71.918
-1.338%
USD/JPY 161.735
0.106%
GBP/USD 1.31921
-0.083%
GBP/JPY 213.367
0.028%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Morgan Stanley: Price risk-reward ratio is expected to be more balanced in the third quarter of 2026, and the path to the restart of Qatar LNG will be clearer.June 24th Futures News: Shanghai Futures Exchange (SHFE) warehouse receipts and changes are as follows: 1. TSR20 rubber futures warehouse receipts: 23,384 tons, down 807 tons from the previous trading day; 2. Tin futures warehouse receipts: 8,051 tons, down 509 tons from the previous trading day; 3. Medium-sulfur crude oil futures warehouse receipts: 2,961,000 barrels, unchanged from the previous trading day; 4. Alumina futures warehouse receipts: 271,583 tons, up 2,692 tons from the previous trading day; 5. Aluminum futures warehouse receipts: 472,972 tons, down 4,262 tons from the previous trading day; 6. Nickel futures warehouse receipts: 95,026 tons, up 258 tons from the previous trading day; 7. Butadiene rubber futures warehouse receipts: 13,700 tons, down 180 tons from the previous trading day; 8. Zinc futures warehouse receipts: 119,677 tons, down 226 tons from the previous trading day; 9. Gold futures warehouse receipts totaled 111,642 kg, an increase of 9 kg from the previous trading day; 10. Rebar warehouse futures warehouse receipts totaled 25,797 tons, unchanged from the previous trading day; 11. Copper futures warehouse receipts totaled 74,943 tons, a decrease of 137 tons from the previous trading day; 12. Lead futures warehouse receipts totaled 62,656 tons, a decrease of 50 tons from the previous trading day; 13. Pulp warehouse futures warehouse receipts totaled 248,750 tons, an increase of 4,883 tons from the previous trading day; 14. Pulp mill warehouse futures warehouse receipts totaled 20,000 tons, unchanged from the previous trading day; 15. Silver futures warehouse receipts totaled 852,293 kg, a decrease of 1,663 kg from the previous trading day; 16. International copper futures warehouse receipts totaled 9,027 tons, a decrease of 199 tons from the previous trading day; 17. Hot-rolled coil futures warehouse receipts totaled 397,215 tons, a decrease of 4,156 tons from the previous trading day; 18. Fuel oil futures warehouse receipts totaled 26,160 tons, a decrease of 5,000 tons from the previous trading day; 19. Stainless steel warehouse futures warehouse receipts totaled 94,337 tons, a decrease of 59 tons from the previous trading day; 20. Natural rubber futures warehouse receipts totaled 151,420 tons, a decrease of 40 tons from the previous trading day; 21. Low-sulfur fuel oil warehouse futures warehouse receipts totaled 0 tons, unchanged from the previous trading day; 22. Petroleum asphalt plant warehouse futures warehouse receipts totaled 89,520 tons, a decrease of 500 tons from the previous trading day; 23. Petroleum asphalt warehouse futures warehouse receipts totaled 18,120 tons, unchanged from the previous trading day.Kazakhstans Ministry of Energy stated that the attack on Russias Orenburg gas plant did not affect the gas supply to domestic consumers.The onshore yuan closed at 6.8052 against the US dollar at 16:30 on June 24, down 187 points from the previous trading day.On June 24th, analysts at First Group Bank stated in a report that US long-term Treasury yields are likely to rise in the coming months due to uncertainty surrounding the inflation outlook. They noted that market concerns about the sustainability of inflation may intensify, and US inflation data could exceed expectations. "The extent to which the Federal Reserve will react to this remains to be seen," the analysts said. They believe that, combined with the US governments continued expansionary fiscal policy, the current environment suggests that long-term yields will rise. Meanwhile, short-term yields have already reflected a market expectation of more rate hikes than the groups analysts anticipated, and speculation about rate hikes will persist in the short term, suggesting that short-term yield volatility may remain high.

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

 37.png

 

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%.


Suggestion