EUR/USD 1.16274
0.035%
Gold 4374.49
0.441%
Oil 92.288
0.089%
USD/JPY 153.799
-0.118%
GBP/USD 1.35413
0.010%
GBP/JPY 208.270
-0.113%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
September 9th - As of September 9th, the August sales figures for new cars in China from Japans three major automakers have all been released. Toyota, Nissan, and Honda all recorded double-digit year-on-year declines. Toyotas August sales in China reached 118,400 units, a 22.8% decrease year-on-year, marking the seventh consecutive month of sales falling below the same period last year. Nissans sales were 28,275 units, a 51.9% decrease year-on-year; Hondas sales were 26,749 units, a 49.9% decrease year-on-year, with both companies sales nearly halved. Nissans year-on-year sales decline has lasted for five consecutive months, while Hondas has been below the same period last year for 31 consecutive months. Analysts believe that as price competition among Chinese electric vehicle manufacturers intensifies, electric vehicles with more significant price advantages are attracting more consumer demand, while sales of the mainstay gasoline-powered vehicles for Japanese automakers remain sluggish.Market news: Kioxia denied any intention to cooperate with SK Hynix, while promising to curb rising chip prices.Hang Seng Index futures opened 0.15% higher at 25,268, a discount of 49 points.The SC crude oil futures contract surged 4.00% intraday, currently trading at 731.70 yuan per barrel.At the opening of the morning session, most domestic futures contracts rose. Methanol rose nearly 4%, container shipping to Europe and SC crude oil rose over 3%, fuel oil and synthetic rubber rose over 2%, and coking coal, polyvinyl chloride (PVC), benzene, caustic soda, liquefied petroleum gas (LPG), and low-sulfur fuel oil (LU) rose nearly 2%. On the downside, palladium fell nearly 3%, Shanghai gold and soybean meal fell over 1%, and rapeseed meal fell nearly 1%.

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