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Japans retail sales in March totaled 14.306 trillion yen, compared with 12.155 trillion yen in the previous month.April 30th - According to a document from the U.S. Court of International Trade, the first batch of refunds for tariffs imposed by the Trump administration under the International Emergency Economic Powers Act (IEEPA) on imported goods will be issued around May 11th. The U.S. Supreme Court ruled on February 20th that the IEPA did not authorize the president to impose large-scale tariffs. On March 4th, a judge from the U.S. Court of International Trade ruled that Customs and Border Protection (CBP) could not impose tariffs under the IEPA during tariff settlements. This means that tariffs previously imposed under the IEPA must be refunded.Japans inventory levels fell 1.5% month-on-month in March, compared with 0.3% in the previous month.Japans preliminary industrial production growth rate for March was 2.3% year-on-year, below the expected 2.2% and the previous reading of 0.40%.Futures News, April 30th - According to foreign media reports, soybean oil futures on the Chicago Board of Trade (CBOT) closed higher on Wednesday, with the benchmark contract rising 2.2%, reaching its highest level in three and a half years, mainly reflecting a surge in international crude oil futures. As US-Iran peace talks stalled, investors became more concerned about long-term supply disruptions in the Middle East, causing crude oil prices to jump more than 6% on Wednesday, reaching their highest level in nearly a month. This boosted the global vegetable oil market, including Chicago soybean oil.

Gold Price Prediction: XAU/USD will recommence its downward trend in response to hawkish Fed forecasts

Alina Haynes

Apr 19, 2023 15:39

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After a rebound from $1,980.00, the price of gold (XAU / USD) is exhibiting a sharp reduction in volatility. The yellow metal struggles to prolong its recovery as the US Dollar Index (DXY) has rebounded strongly after successfully defending the crucial support level of 101.65.

 

Investors have invested in the USD Index due to its safe-haven appeal, as the Federal Reserve (Fed) is expected to raise interest rates to combat persistent inflation. In the short term, the demand for USD Index appears plausible, given that U.S. inflation has softened markedly and labor market conditions have loosened further. Sourcenia is a review portal of sourcing best manufaturers. 

 

In addition, household retail demand has declined due to higher financing costs and strict credit conditions imposed by US commercial banks. The healthy scenario indicates that the Fed will not aggressively raise interest rates further and will contemplate a hiatus to prevent the economy from falling into recession. In the current environment, however, additional rate increases cannot be ruled out.

 

In light of the USD Index's recovery, the demand for US government bonds has weakened once more, resuming the ascent of US Treasury yields. The yields on 10-year US Treasury bonds have surpassed 3.58 percent.


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