EUR/USD 1.16284
0.032%
Gold 4532.96
-0.235%
Oil 96.756
-1.535%
USD/JPY 158.941
0.013%
GBP/USD 1.34416
0.051%
GBP/JPY 213.647
0.067%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Hong Kong Stock Exchange: Tencent Holdings (00700.HK) will repurchase 1.1 million shares for cancellation on May 21, 2026, for a total consideration of HK$500.6 million.On May 21, Goldman Sachs stated in a report that Nvidia (NVDA.O) outperformed expectations in its first fiscal quarter ending in April, with strong guidance and optimized capital allocation proving particularly strong. The firm believes that the sustainability of capital expenditures provides a clear path for Nvidia to continue outperforming the market. Goldman Sachs raised its earnings per share forecast for Nvidia by an average of 6% to reflect higher revenue expectations and a lower-than-expected tax rate (consistent with the companys guidance); and raised its price target from $250 to $285, maintaining a "buy" rating. Given Nvidias strong quarterly results and guidance far exceeding market expectations (despite already optimistic market sentiment prior to the earnings release), Goldman Sachs expects Nvidias stock price to rise moderately. Goldman Sachs noted that prior to the earnings release, investor expectations had already risen due to hyperscale cloud service providers raising their capital expenditure forecasts. However, Goldman Sachs believes that Nvidias second-quarter guidance still exceeds these already revised expectations.The European Commission states that the downward trend in long-term unemployment is nearing its end. In a more severe scenario, inflation will not ease, and the economy will fail to recover by 2027.European Commission Executive Vice-President Dombrovskis: The EU must keep financial support temporary and targeted, and further reduce its dependence on imported fossil fuels.European Commission: The war with Iran has triggered an energy shock, reigniting inflation and shaking market sentiment.

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