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The EU has begun drafting a treaty on Montenegros accession to the EU.On April 23, Iranian Foreign Minister Araqchi and Sri Lankan Foreign Minister Herat spoke by phone on Wednesday afternoon. During the call, the Iranian Foreign Minister expressed gratitude to the Sri Lankan government for its efforts in the rescue operation of the crew of the destroyer Dena and for its assistance in repatriating the remains of the heroes who died on the Dena and other Iranian vessels. Describing the crimes committed against Iran by the United States and the Zionist regime, the Iranian Foreign Minister stated that the attack on the Dena was an "unprecedented war crime" committed by the United States, and emphasized that the Iranian nation will never forget this blatant violation of the fundamental principles of international humanitarian law and the 1949 Geneva Conventions. Iran will use all legal and political means to hold the perpetrators and those in charge of this war crime accountable and punish them. The two foreign ministers also discussed strengthening bilateral relations during the call.LOréal: The recovery in the US and Chinese markets continued in the second half of 2025, with performance in both markets exceeding market levels.On April 22, Cambodian Prime Minister Hun Manet met with Foreign Minister Wang Yi and Defense Minister Dong Jun in Phnom Penh, who were attending the first meeting of the China-Cambodia "2+2" Strategic Dialogue Mechanism between the Foreign and Defense Ministers. Wang Yi stated that China is willing to work with Cambodia to steadfastly follow the path of friendship forged by the older generation of leaders of the two countries and to implement the concept of a community with a shared future in all aspects of bilateral relations. Both sides should maintain high-level exchanges, jointly promote the construction of the "Industrial Development Corridor" and the "Fish and Rice Corridor," and help Cambodia enhance its capacity for independent development. Cross-border gambling and fraud endanger the lives and property of the people and must be resolutely cracked down on and completely eradicated. Both sides should firmly support each other in international multilateral affairs, respond to severe external challenges with China-Cambodia strategic cooperation and strategic resilience, and jointly safeguard fairness and justice.On April 22, the first meeting of the "2+2" strategic dialogue mechanism between the foreign and defense ministers of China and Cambodia was held in Phnom Penh. Foreign Minister Wang Yi and Defense Minister Dong Jun co-chaired the meeting with Cambodian Deputy Prime Minister and Minister of Foreign Affairs Prak Sokhonn and Deputy Prime Minister and Minister of National Defense Tea Sihanouk. The two sides exchanged in-depth views on bilateral relations, political and security cooperation, and the international and regional situation, reaching broad consensus. Both sides agreed that, in the face of the current international situation, both sides should maintain strategic clarity and strategic resolve, safeguard political and regime security, support each others core interests, and solidly advance pragmatic cooperation in various fields, continuously adding new dimensions to the China-Cambodia community of shared future; coordinate the promotion of high-quality development and high-level security, and oppose any forces that could undermine the ironclad friendship between China and Cambodia; deepen law enforcement and defense cooperation, jointly crack down on online gambling and telecom fraud, and safeguard their respective cybersecurity; actively cooperate within the framework of the four major global initiatives, support the resolution of regional disputes through dialogue and negotiation, jointly oppose unilateral bullying and power politics, and uphold global free trade and international fairness and justice.

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

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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%.