EUR/USD 1.16678
0.039%
Gold 4637.64
-0.301%
Oil 81.805
-3.248%
USD/JPY 159.281
0.118%
GBP/USD 1.36438
0.099%
GBP/JPY 217.326
0.226%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
According to Israeli media: Israeli Defense Minister Katz also visited Syria this morning.Russian Foreign Minister Sergey Lavrov: The world needs diplomacy more than ever before.On August 25, the U.S. State Department prepared to return diplomats to embassies in the Middle East that were evacuated before and during the war with Iran, indicating that the Trump administration does not expect a renewed full-scale hostilities. According to an internal State Department document obtained by The New York Times, U.S. diplomatic missions in the Middle East may begin returning diplomats as early as this week, gradually reducing previously implemented emergency measures. Three U.S. officials also confirmed the adjustments. The document shows that embassies planned to be reinstated with higher staffing levels include those in Israel, Lebanon, Saudi Arabia, Qatar, Jordan, Oman, Iraq, and Kuwait. Current and former State Department officials said the redeployment of diplomats signifies a de-escalation of tensions, although negotiations between the U.S. and Iran regarding extending the 60-day ceasefire agreement that expired last week have stalled. Dan Shapiro, who served as U.S. ambassador to Israel under the Obama administration and as Defense Department official in charge of Middle East affairs under the Biden administration, said, "Reinstating some of the withdrawn diplomatic missions indicates that the administration believes the war is nearing its end."Kremlin: Finnish President Stubb and other Western leaders are deceiving their voters by claiming that they can strategically defeat Russia.Kremlin: (Regarding the proposal for a free economic zone in eastern Ukraine) Donbas is part of Russia, and no third party can govern Russian territory.

Gold Price Prediction: XAU / USD will continue to fluctuate above $1,900 despite a decline in US Inflation

Daniel Rogers

Mar 15, 2023 11:43

截屏2022-09-15 下午3.06.36.png

 

Gold price (XAU / USD) is not in danger despite U.S. inflation figures meeting expectations. Since Monday, the precious metal has been fluctuating continuously between $1,895 and $1,913. The release of the US Consumer Price Index (CPI) failed to produce a significant reaction in the Gold price; however, the upside bias appears to be solidified as wagers on lesser rate increases from the Federal Reserve (Fed) have increased.

 

The US Dollar Index (DXY) is protecting the critical support at 103.50, but it appears vulnerable to further losses as investors' risk appetite has dramatically increased. As market participants purchased S&P500 futures in response to higher odds of a smaller rate hike from Fed chair Jerome Powell, a likely recession in the US economy was postponed, signaling an uptick in optimism.

 

Contrary to the risk-on sentiment, demand for US Treasury bonds remained weak, causing 10-year US Treasury yields to rise above 3.68 percent.

 

The headline As anticipated, the US CPI increased by 0.4% on a monthly basis, and the annual figure decreased from 6.4% to 6.0%. In addition, the core CPI, which excludes crude and food prices, decreased to 5.5% from 5.6% previously. The Fed appears to be pleased with the persistence of a declining trend in US inflation.

 

In the future, investors will closely monitor the US Retail Sales (Feb) data. Monthly Retail Sales data is anticipated to decline by 0.3% compared to the previous release of a 3.0% increase. This indicates that the consumer spending rebound is over and the Fed is on course to achieve its inflation target of 2%.

Suggestion