EUR/USD 1.14293
0.079%
Gold 4033.20
-0.482%
Oil 79.536
0.486%
USD/JPY 162.198
-0.039%
GBP/USD 1.34153
0.186%
GBP/JPY 217.599
0.145%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Japanese Prime Minister Sanae Takaichi: Exchange rates are determined by the market.July 15th - According to Zhengzhou Customs, Henan Provinces total import and export volume exceeded 500 billion yuan for the first time in history during the first half of this year. In the first half of the year, Henans total import and export volume reached 520.36 billion yuan, a year-on-year increase of 26%. Exports totaled 319.48 billion yuan, up 14.6%; imports totaled 200.88 billion yuan, up 49.8%. This also marks the first time in history that Henans import volume has exceeded 200 billion yuan for the same period.Japanese Prime Minister Sanae Takaichi: Foreign exchange and interest rates are affected by a variety of factors, such as US interest rates and economic indicators.Japanese Prime Minister Sanae Takaichi: I do not believe the draft economic blueprint will become a source of market shocks.July 15th, Futures News: Recent escalation of geopolitical tensions has restricted navigation across the Taiwan Strait, increasing market concerns about supply prospects and driving up international crude oil prices. The corresponding crude oil change rate is fluctuating upwards, and the current window for retail price adjustments for refined oil products has opened, providing a positive outlook. Currently, domestic wholesale prices for gasoline and diesel are rebounding, with some regions experiencing significant price increases. Some suppliers and traders are holding back sales or controlling supply, further fueling market upward pressure. In the short term, the increase in wholesale prices may exceed the adjustment in retail prices, potentially narrowing the wholesale-retail price gap. Furthermore, limited actual demand from end-users suggests a rise in risk appetite for purchasing at higher prices.

Forecast for Gold Price: XAUUSD licks its wounds around $1,770 in lackluster markets

Daniel Rogers

Nov 18, 2022 15:08

 截屏2022-11-17 下午2.41.58_1024x576.png

 

During Friday's Asian session, the gold price (XAUUSD) shows slight rises near $1,762 as it tests the two-day downtrend. However, the precious metal remains on track for its first weekly decline in three weeks.

 

Recent bullion increases may be attributable to a technical rebound amid a light economic calendar and weak macroeconomic conditions. Also likely to have supported the Gold price are the most recent stories indicating a relief for US students, as well as the mixed data from the previous day.

 

Nonetheless, CNBC reported that the Biden administration will petition the Supreme Court to reinstate the student loan debt relief scheme. On the other hand, October's disappointing Philadelphia Fed Manufacturing Index and housing data may have cast doubt on the Fed's recent hawkish rhetoric.

 

The latest Reuters poll for the US Federal Reserve (Fed) predicts that the Fed will downshift in December to deliver a 50 basis point (bps) interest rate hike, although a longer period of US central bank tightening and a higher policy rate peak pose the greatest threats to the present forecast.

 

In addition, recent optimistic US stock futures and better equity prices in the Asia-Pacific area appeared to have aided the XAUUSD bulls.

 

Given the weak economic calendar and the metal's recent corrective rally, bears will need to regularly monitor risk catalysts to maintain control.


Suggestion