EUR/USD 1.13865
0.150%
Gold 4071.52
1.116%
Oil 69.386
-2.717%
USD/JPY 161.751
-0.028%
GBP/USD 1.31980
0.059%
GBP/JPY 213.482
0.043%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
According to Fox News: The latest round of US strikes against Iran is larger than last nights operation. US and Bahraini forces shot down nine Iranian drones that were heading towards US forces in Bahrain.According to the Islamic Republic of Iran Broadcasting (IRIB): Several shells struck a village on Qeshm Island.On June 28, U.S. Central Command issued a statement saying that on June 27, under the command of the Commander-in-Chief, U.S. Central Command forces conducted additional strikes against multiple Iranian targets. Following yesterdays U.S. strikes against Iran in response to its attack on the cargo ship "M/V EverLovely," Iran had an opportunity to uphold the ceasefire agreement, but its forces launched a one-way attack drone strike this morning (4:30 AM ET on Saturday), hitting and destroying the oil tanker "M/T Kiku." The Panamanian-flagged tanker was sailing near the Strait of Hormuz at the time, carrying more than two million barrels of crude oil. Today, U.S. Central Command forces responded to Irans continued attacks on merchant ships, with U.S. warplanes striking Iranian military surveillance facilities, communication systems, air defense sites, drone storage facilities, and mine-laying capabilities. Merchant ships continue to transit the Strait of Hormuz. The U.S. military remains vigilant and ready to respond.June 28 - The United States launched a military strike against Iran on June 27 local time.June 28 - Neuberger portfolio manager Joseph Purtell said, "In the short term, the dollar is likely to remain strong due to rising US real interest rates." He believes the dollar is poised to break out of its six- to nine-month range, but added that in the long term, the dollar may weaken given structural issues such as the fiscal sustainability of the US government.

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