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A senior Ukrainian official said that Russian ballistic missiles struck the Ukrainian capital, Kyiv.Conflict Situation: 1. Trump threatens to strike Irans "Ghoshka" underground nuclear facility. 2. The US military announces its third consecutive night of strikes against Iran. 3. The US military uses unmanned surface vessels for the first time in its strikes against Iran. 4. Satellite images show a precision strike on the US Al Udeid Air Base in Qatar. 5. Iranian Revolutionary Guard: Attacks a US military base in Kuwait. 6. Jordan claims to have intercepted and shot down four missiles that entered its airspace from the direction of Iran. 7. Iranian Revolutionary Guard: Strikes a US military facility in Bahrain and destroys a radar system in Oman. 8. US Central Command: The US military did not launch a strike on Irans Kharg Island. 9. Iran: In the fourth phase of retaliatory strikes against US targets in the region, it destroyed two HIMARS rocket artillery systems and ammunition depots. 10. Iranian Army air defense forces intercepted and shot down a US Lucas drone near Bandar Abbas. 11. Iranian military sources say Iranian forces have launched drone strikes against US military facilities and equipment in Kuwait. Iran also targeted a "hostile" US ship with a cruise missile. 12. Yemens Sanaa International Airport was subjected to multiple Saudi airstrikes. The Saudi attack was carried out after an Iranian aircraft entered Yemeni airspace. 13. Yemeni government: Houthi rebels hijacked an International Committee of the Red Cross aircraft. 14. Houthi leader in Yemen: Will target key Saudi infrastructure. US-Iran Negotiations 1. UN Secretary-General urges the US and Iran to resume negotiations. 2. Iranian Foreign Ministry: The memorandum of understanding with the US has entered a "crisis" phase. Iran will not fulfill its commitments in the memorandum of understanding unless the US does not fulfill its commitments. 3. Iranian Foreign Ministry: Claims that Iran requested negotiations are part of psychological warfare waged by the US. 4. Iranian Foreign Ministry: We have recently maintained contact with Qatar, Oman, and Pakistan, and communication will continue. Strait of Hormuz 1. Iran: The Strait of Hormuz remains closed. 2. Iran stated that ships sailing along parallel routes to the US in the Strait of Hormuz will face risks. 3. Iranian Foreign Minister: Consultations with Oman on the management of the Strait of Hormuz will continue. 4. Irans Straits Authority: Resumption of passage requires stabilization of the situation. 5. Advisor to Irans Supreme Leader: We will never back down on the Strait of Hormuz issue. 6. Irans Supreme Joint Military Command: Iran will not allow the US to interfere in the management of the Strait of Hormuz. 7. Dubai plans to build a new port to bypass the Strait of Hormuz. 8. Irans Revolutionary Guard: Ships violating regulations again will face decisive punishment; if the US attempts to solidify violations, it will be punished again. 9. Trump: Immediately reinstate the blockade of Iran, charging a 20% fee on cargo transport. 10. Iranian Foreign Minister: Charging a fee to ensure passage through the strait is necessary, but Trumps 20% fee is too high. 11. The US military will begin implementing a maritime blockade of all Iranian ports and the Iranian coast at 04:00 Beijing time on July 15th. The blockade applies to all ships. 12. Joint Maritime Information Centre (JMIC): The threat level for passage through the Taiwan Strait remains "serious." Further deliberate hostile activities are possible. Other developments: 1. Iran lifts export ban on petrochemical products. 2. The UK designates the Iranian Revolutionary Guard as a terrorist organization. 3. Iranian Foreign Ministry: Iran will not agree to IAEA Director General Grossis request to access damaged nuclear facilities. 4. French Foreign Minister: Sanctions will not be lifted as long as Iran does not abandon its nuclear program. 5. European Commission: Launches the "Gaza Team Initiative," raising €883.6 million in financial contributions. July 14 - On July 13 local time, South Carolina Governor Henry McMaster announced that Darlene Graham Nodonne, the sister of the late Republican Senator Lindsey Graham, will complete the remainder of Grahams term.July 14th - According to information obtained by CCTV reporters from the UK on the 13th, Labour MP Andy Burnham has secured the nominations of 349 out of 403 Labour MPs, effectively locking in the Labour Party leadership and potentially becoming Prime Minister on July 20th. According to regulations, a candidate for party leadership needs at least 81 nominations from Labour MPs; currently, no other candidates meet the requirements. It is understood that Burnham also needs the support of three Labour Party affiliates, at least two of which are trade unions; however, this is widely considered a procedural step.According to The Hill, when asked whether he would reveal the content of his prime-time speech on Thursday, President Trump said, "This is just a speech, much like many of my previous speeches."

Forecast for Gold Price: XAU/USD consolidates above $2,000 as investors await initial US S&P PMI data

Daniel Rogers

Apr 21, 2023 13:52

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During the Asian session, the price of gold (XAU / USD) is oscillating above the psychological resistance of $2,000.00. After a gradual increase, the price of gold has leveled off near $2,005.00 as investors await the release of preliminary S&P PMI data for the United States.

 

S&P500 futures have added some gains during the Asian session following three consecutive declines. As a result of Elon Musk's price-cutting frenzy, Tesla's revenue projections were gloomy, which dampened market sentiment. Near 101.77, the US Dollar Index (DXY) has extended its correction. The USD Index has been consolidating in a range between 100.90 and 102.03 for the past several trading sessions. Therefore, a move that exceeds the previously specified limit will be considered decisive.

 

The subdued USD index weighs on US Treasury yields as well. The demand for U.S. government bonds has increased as weekly unemployment claims have increased. The number of individuals claiming unemployment benefits rose to 245K, exceeding the consensus estimate of 240K. This indicated a softening in the labor market and bolstered expectations that the Federal Reserve (Fed) will not raise interest rates after the monetary policy meeting in May.

 

In the future, the publication of the preliminary US S&P PMI data will determine the impact of the Fed's rate hikes on the scope of economic activity. According to projections, the Manufacturing PMI and Services PMI will decline to 49.0 and 51.5, respectively. A preliminary PMI reading that is weaker than anticipated could impact heavily on the U.S. dollar.