EUR/USD 1.14753
0.159%
Gold 4155.53
-1.272%
Oil 76.425
1.330%
USD/JPY 161.286
-0.058%
GBP/USD 1.32328
0.217%
GBP/JPY 213.428
0.168%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
June 21st - On June 21st, the last day of the Dragon Boat Festival holiday, the national railway is expected to transport 17.94 million passengers, with 1,355 additional passenger trains planned. On June 20th, the national railway transported 12.143 million passengers, with transportation proceeding safely, smoothly, and orderly.June 21 - According to the Associated Press: U.S. Vice President Vance has arrived in Switzerland to lead negotiations between the U.S. and Tehran regarding its nuclear program.June 21 - Market sources indicate that the United States will pressure Iran during negotiations in Switzerland to allow UN inspectors to return to key nuclear facilities, offering the unfreezing of billions of dollars in frozen Iranian assets as a core incentive. This issue is expected to be one of the most crucial topics in the first round of negotiations.June 21 – According to the Financial Times, index provider MSCI assigned SpaceX its lowest environmental, social, and governance (ESG) rating of “CCC” ahead of its record $75 billion IPO this month. According to MSCI, this puts SpaceX “behind the industry due to its high exposure to risk and failure to manage significant ESG risks.” Frédéric Ducoulombier, program director at the EDHEC Business School’s Climate Institute, said: “The company’s poor assessment of controversies, extremely poor governance assessment, and low overall ESG rating should not surprise anyone. For public market investors, this is very close to a governance horror story.”June 21 - According to the website of the China Maritime Safety Administration, the Beihai Maritime Safety Administration issued a navigation warning that military training will be conducted in parts of the Beibu Gulf from 12:00 to 14:00 on June 22, and vessels are prohibited from entering.

Gold Price Forecast: XAU/USD views $1,800 as upbeat US labor market fuels hawkish Fed wagers

Alina Haynes

Mar 09, 2023 13:55

27.png 

 

Gold price (XAU / USD) appears vulnerable above $1,810.00 as the upside appears constrained by rising Federal Reserve rate expectations (Fed). The precious metal is anticipated to resume its decline as strong United States Employment data reported by Automatic Data Processing (ADP) has confirmed that January's strong consumer spending and higher payrolls were not a one-time blow to the Consumer Price Index's decline (CPI).

 

S&P500 futures have given up the slight gains they made on Wednesday during the Asian session. As China's CPI and Producer Price Index (PPI) figures indicate deflation, the risk-aversion theme has intensified. The US Dollar Index (DXY) has maintained a sideways trend above 105.20 as investors await the publication of US Nonfarm Payrolls (NFP) data for fresh direction signals. The alpha provided by 10-year US Treasury bonds has risen above 3.98 percent.

 

The official US Employment data is expected to indicate a decline in the payrolls to 203K from the former release of 514k. A figure of 203K is not as terrible as January's 514K figure, but it appears insignificant in comparison. Investors should be aware that a figure of 514K in the last seven months was exceptional.

 

Aside from that, it is anticipated that the unemployment rate will remain at a multi-decade low of 3.4%. The Average Hourly Earnings are expected to ascend to 4.8% on an annual basis. Household income may increase consumer expenditure. Jerome Powell, the chairman of the Federal Reserve, has already confirmed that the Fed will increase interest rates in order to reduce inflation.


Suggestion