EUR/USD 1.18800
0.501%
Gold 5010.37
0.580%
Oil 60.738
-0.526%
USD/JPY 154.211
-1.028%
GBP/USD 1.36778
0.305%
GBP/JPY 210.906
-0.738%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On January 27th, the China Securities Regulatory Commission (CSRC) issued its first penalty of the year, directly targeting market manipulation. The penalty, fining Yu Han, an individual, over 1 billion yuan for manipulating the stock price of "Dr. Glasses." Meanwhile, the Zhejiang Securities Regulatory Bureau launched an investigation into Sunflowers restructuring plan for suspected misleading statements; and the Shenzhen Stock Exchange placed *ST Lifang and *ST Changyao under close monitoring due to suspected falsification of financial data. This series of recent regulatory cases demonstrates the regulatory authorities firm stance of "zero tolerance" for market violations and sends a clear signal of strengthening transaction supervision, maintaining market fairness, and preventing drastic fluctuations. From administrative penalties to criminal prosecution, from precise strikes to platform co-governance, the regulatory authorities are building a multi-dimensional and comprehensive regulatory network, striving to create a long-term governance pattern where "violations are not dared, cannot, and do not want to violate," thereby promoting the continuous purification of the market ecosystem through improved regulatory effectiveness.U.S. Homeland Security Secretary Noem is expected to testify before a Senate committee in March.US President Trump: I hereby announce that tariffs on South Korean automobiles, timber, pharmaceuticals, and all other reciprocal tariffs will be increased from 15% to 25%.Supermicro Computer (SMCI.O) intends to increase the scale of its facility expansion to $2 billion.The gold-silver ratio has rebounded sharply, currently trading at 48.6, after hitting a low of 43.31 during the day.

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.

Suggestion