EUR/USD 1.17777
0.181%
Gold 3331.25
0.159%
Oil 65.610
-1.060%
USD/JPY 144.507
-0.275%
GBP/USD 1.36475
-0.058%
GBP/JPY 197.222
-0.314%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Ukrainian President Zelensky mentioned the Russian attack in a phone call with US President Trump.Ukrainian President Zelensky: The call with US President Trump achieved fruitful results.According to the Washington Post: Europe is pushing for Iran nuclear talks but says hopes of a deal are slim.July 4, Yermak, the Ukrainian presidents chief adviser, confirmed on Friday that Zelensky had a phone call with US President Trump, and the Ukrainian leader tried to urge Washington to resume the delivery of key weapons. Just hours before the two sides exchanged views, Russia launched the largest airstrike on the Ukrainian capital since the war began in 2022. Trump also spoke with Russian President Putin on the phone, and Trump said he was "very disappointed" with the call. Yermak said the dialogue between the two presidents was "very important and meaningful." "All the details will be announced soon," he added.July 4: When asked whether a deal can be reached with the United States by the July 9 deadline set by Washington, Indian Trade Minister Piyush Goyal said India is ready to reach a trade deal on the basis of national interest, not just to meet the deadline. Trump has threatened to impose a 26% tariff on all imports from India, which will take effect next week for countries that fail to reach an agreement by the deadline he set. Goyal said: "National interest is always paramount. Keeping this in mind, if a good deal can be reached, then India is ready to reach an agreement with developed countries at any time." "India has never reached any trade agreement on the basis of a deadline or time frame...We will only accept an agreement if it is fully finalized and in the national interest."

Gold Price Prediction: XAU/USD tests $1,880 as the US Dollar retreats in advance of Fed Chair Powell's speech

Daniel Rogers

Feb 07, 2023 15:38

 截屏2022-06-07 下午5.15.00.png

 

During early Tuesday trading, the gold price (XAU/USD) gains bids to retest the intraday high near $1,876 while printing a two-day rise.

 

In doing so, the precious metal extends its recovery from a monthly low at the start of the week, as the US Dollar's weakness combines with cautious optimism in the market to favor XAU/USD bulls. However, apprehension in front of Federal Reserve Chairman Jerome Powell and US President Joe Biden's State of the Union (SOTU) remarks appears to be challenging metal buyers recently.

 

The modestly optimistic feeling could be attributed to Treasury Secretary Janet Yellen and President Joe Biden's remarks that pushed back US recession fears. In a similar vein, US President Joe Biden's remarks that "the balloon incident did not damage US-China relations" appeared to allay Sino-American concerns.

 

On the other hand, hawkish Fed comments appear to support US Treasury bond yields and the US Dollar. In an interview with Bloomberg, Federal Reserve Bank of Atlanta President Raphael Bostic stated, "The robust job market presumably suggests 'we have a bit more work to do.'" Notably, the stronger US jobs report and activity statistics for January rekindled the Fed's hawkish stance last Friday, but a lack of directions appeared to test the USD bulls subsequently.

 

In this environment, S&P 500 Futures post modest gains, as US Treasury bond rates struggle to extend their two-day recovery from the monthly low. Observe that the US Dollar Index (DXY) has likewise retreated from the one-month peak it reached the day before amid lackluster market conditions.

 

Gold traders should focus on Fed Chair Powell's ability to compliment the most recent good US data as well as US President Biden's State of the Union address.


Suggestion