EUR/USD 1.15954
-0.135%
Gold 4348.43
0.740%
Oil 97.119
-3.390%
USD/JPY 153.683
-0.474%
GBP/USD 1.35260
0.113%
GBP/JPY 207.876
-0.364%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On September 13th, it was reported that the Houthi rebels in Yemen have recently intensified their offensive against government forces and seized control of strategic locations in the Red Sea. Experts analyze that changes in the balance of power within Yemen and the conflict between the United States and Iran are the reasons for the rapid escalation of the conflict in Yemen. Li Zixin, assistant researcher at the China Institute of International Studies, stated that firstly, since the sudden escalation of the current Israeli-Palestinian crisis in October 2023, the Houthi rebels have frequently conducted military operations in the Red Sea under the pretext of supporting Hamas. During this process, the Houthis have continuously trained in missiles, drones, and cross-sea strikes, and have also cooperated to a considerable extent with regional allies, gradually enabling them to operate on multiple fronts. Secondly, since the UN-mediated ceasefire agreement in 2022 failed to be renewed, the various factions within the Yemeni government forces have never been able to effectively integrate. Currently facing multiple Houthi attacks, the US forces are almost instantly routed, with some even retreating before the battle even begins. Within nine days, they have lost several strategic locations, including the Mukha and Hanish Islands, surrendering areas once largely controlled by the government forces to the Houthis. Thirdly, with the US deeply mired in the war against Iran, the Houthis have precisely seized upon this power vacuum.On September 13, the Canadian Prime Ministers Office announced that Prime Minister Mark Carney will visit Strasbourg, France, and Liverpool, UK, from September 15-17. The announcement stated that the Canadian government is building diverse partnerships. In France, Carney will address the European Parliament at the invitation of European Parliament President Jean-Michel Mezzola, attend European Commission President Ursula von der Leyens State of the Union address, and meet with MEPs to strengthen ties between Canada and the EU in trade, investment, and security. In the UK, Carney will hold his first meeting with Prime Minister Burnham to discuss priorities in bilateral relations, particularly in defense, energy, artificial intelligence, and critical minerals.On September 13, Iraqi Deputy Prime Minister and Foreign Minister Fuad Hussein spoke by phone with Iranian Foreign Minister Araqchi on September 12, local time. According to the Iraqi Foreign Ministry, the two sides discussed the reasons for Iraqs recent temporary closure of some border crossings with Iran and the subsequent arrangements, and exchanged views on the attacks on Saudi Arabia and the progress of related investigations. They also discussed a regional conference planned for Oman. Member states of the Gulf Cooperation Council, Iraq, and Iran will participate, focusing on issues related to the Strait of Hormuz. Hussein stated that Iraq supports holding the conference and will send a delegation. The two sides also exchanged views on the situation in Yemen and expressed their commitment to easing regional tensions through dialogue and negotiation.On September 13, local time, Houthi military spokesman Yahya stated that in response to Saudi Arabias continued military operation in Yemen, the Houthi rebels launched a military operation, striking an weapons depot at a military base in Saudi Arabias Shahrala region, as well as the command and control center responsible for directing and coordinating military operations against Yemen and its people. Yahya said the operation used a large number of ballistic missiles and drones, and the target was "precisely and directly struck." He warned that if Saudi Arabia continues its military operation in Yemen, the Houthi forces will launch larger-scale and more intense military operations against targets deep within Saudi territory, and Saudi Arabia will bear serious consequences.On September 13, the Prime Minister of Qatar and the Deputy Prime Minister and Foreign Minister of Jordan discussed diplomatic efforts to "de-escalate tensions and promote security and stability." Both sides stated that Qatar supports all efforts aimed at "reaching a solution that ensures freedom of navigation at sea and paving the way for a comprehensive agreement that achieves lasting peace in the region." They also discussed ways to support and strengthen bilateral cooperation.

Forecast for the Gold Price: XAU/USD struggles near $2,020 as the US Dollar Index defends its downside

Daniel Rogers

Apr 13, 2023 14:02

 截屏2022-06-07 下午5.14.47.png

 

After reaching the critical resistance of $2,020.00 in the Tokyo session, the gold price (XAU / USD) has shown depletion in its upward momentum. As the impact of a slowdown in U.S. inflation would persist for an extended period of time, the precious metal's bullish bias remains strong. After testing its critical low of 101.44, the US Dollar Index (DXY) has shown some resilience, as the lower US Consumer Price Index (CPI) has failed to diminish the likelihood of consecutive 25 basis point (bps) rate hikes from the Federal Reserve (Fed).

 

According to the CME Fedwatch instrument, the probability of a 25 basis point rate increase at the monetary policy meeting in May is greater than 68%.

 

Moreover, S&P500 futures have extended their gains since Wednesday's pessimistic close, indicating a recovery in the risk-on sentiment.

 

Examining the US inflation report reveals that headline inflation has decreased more than anticipated to 5%, as a result of lower petroleum prices. The investing community is aware that oil prices have rebounded substantially in April following the unexpected announcement of production cuts by OPEC+, which could disrupt the party for Gold Bulls.

 

Contrary to the headline inflation rate, the core CPI has increased to 5.6% from 5.5% in the previous report as rent prices remained stable. This suggests that core inflation could remain exceedingly persistent in the future.

 

As reported by Reuters, San Francisco Fed Bank President Mary Daly stated late Wednesday, "There's a lot more monetary policy tightening in the pipeline." She refrained, however, from predicting the end of the tightening cycle.


Suggestion