EUR/USD 1.14733
0.105%
Gold 4589.25
1.735%
Oil 98.605
-3.269%
USD/JPY 159.760
0.029%
GBP/USD 1.32045
0.161%
GBP/JPY 210.956
0.191%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
The Hang Seng Tech Index rose more than 1%, while the Hang Seng Index rose more than 0.8%.Biren Technology (06082.HK), a Hong Kong-listed company, rose more than 6%, with its revenue projected to grow by 207.2% year-on-year in 2025.J&T Express (01519.HK) shares surged over 12% in Hong Kong, with the company reporting a full-year net profit of US$225 million, a year-on-year increase of 98.2%.On March 31, the yen fell to its lowest level since July 2024 on Monday, prompting Japans top foreign exchange official, Jun Mimura, to warn that authorities might take decisive action in the foreign exchange market if the current situation persists. This followed similar comments from Finance Minister Satsuki Katayama on March 27 when the exchange rate closed above 160. According to data from the CME Groups central restricted order book, the most actively traded May put options saw more than three times the volume of the most actively traded call options on Monday. Mukund Daga, global head of foreign exchange options at Barclays in London, said, "Hedge funds have shown some interest in USD/JPY options as a way to hedge against potential intervention that could lead to a sharp decline in the exchange rate." He noted that trading activity was concentrated in the short-term structure, "which suggests that the market is focused on near-term event risks rather than a broad directional shift."March 31 – The "Measures for the Exchange of Damaged and Defaced Renminbi" issued by the Peoples Bank of China officially came into effect today. These measures, for the first time, systematically clarify the criteria for defining damaged and defaced Renminbi, clearly delineate the boundaries between convertible and non-convertible banknotes, and further detail the exchange procedures. Exchange services will be handled free of charge by financial institutions designated by branches of the Peoples Bank of China.

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