• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Australian Treasurer Charles Chalmers has issued orders to six shareholders to divest their stakes in Northern Minerals. This decision is entirely in line with the recommendations of the Treasurer and the Foreign Investment Review Board, aimed at protecting national interests and ensuring compliance with Australias foreign investment framework.On May 18, US President Trump stated in an interview that he still believes Iran is willing to reach an agreement and expects Iran to submit an updated proposal in the coming days. Trump reportedly declined to reveal a deadline for the negotiations but indicated that the US would take stronger military action if Iran did not meet US demands regarding its nuclear program.① Iran 1. Iranian military: If the US launches another military operation, it will face an offensive response. 2. Iranian Foreign Ministry: The US and Israel are using "maintaining energy stability" as a pretext to justify the war against Iran. 3. Iranian Vice President: Iran will no longer allow enemy military equipment to pass through the Strait of Hormuz. 4. Iran: Iran says it is prepared to respond to a potential escalation of the situation by the US. 5. Iran: The US has presented Iran with five key conditions, including that the US will not pay any war reparations and that Iran will only be allowed to maintain one operational nuclear facility. ② US 1. US Energy Secretary: The Strait of Hormuz will reopen no later than this summer. 2. Two US officials revealed that Trump is expected to meet with his national security team in the Situation Room on Tuesday to discuss military options. 3. Sources: Trump met with senior members of his national security team on Saturday to discuss the next steps in the war with Iran. 4. Trump stated on social media on Sunday that if Iran does not act swiftly, it will have nothing. ③ Israel 1. Following the "extension of the ceasefire," Israel launched a large-scale airstrike on southern Lebanon. 2. Sources: Israel has secretly established at least two military outposts in Iraq. 3. Israeli media: Netanyahu and Trump spoke by phone to discuss the possibility of resuming hostilities in Iraq. If military operations against Iraq resume, it is expected that Israel and the United States will launch joint airstrikes. 6. Other situations: 1. The Israeli military claims to have killed a commander at the Hamas operations headquarters. 2. Lebanon claims the Israeli attack caused approximately $2 billion in economic damage. 3. NATO intelligence agencies believe Iran still retains most of its missile stockpile and facilities. 4. A generator outside the Barakah nuclear power plant in the UAE was attacked by a drone and caught fire. 5. The International Atomic Energy Agency: The UAE stated that radiation levels at the Barakah nuclear power plant are normal and that no casualties were reported after the drone attack. 6. The International Criminal Court denies issuing new arrest warrants for several Israeli officials. On May 18, Kyrgyz President Sadil Japarov called on world leaders to vote for Kyrgyzstan as a non-permanent member of the UN Security Council on June 3. Japarov emphasized, "Choosing Kyrgyzstan will reflect the world communitys political will to restore historical justice and ensure that all countries are elected equally to the highest organs of the United Nations."The UAEs nuclear regulator stated that no radioactive leaks occurred following the Barakah nuclear power plant incident, and there is no risk to the public.

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

 272.png

 

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.