EUR/USD 1.14296
0.117%
Gold 4123.58
1.133%
Oil 71.661
-3.831%
USD/JPY 162.374
-0.134%
GBP/USD 1.34081
0.144%
GBP/JPY 217.715
0.016%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
The U.S. House of Representatives will vote next week on a bill to permanently implement daylight saving time.Democratic Republic of Congo: The number of confirmed Ebola cases has risen to 1,792, with 625 deaths.July 10 – According to Sputnik News Agency, Russian Foreign Minister Sergey Lavrov stated at a press conference that Russia no longer believes the West is willing to negotiate on the Ukraine issue. Lavrov said, “We no longer believe the West is willing to resolve the issue through negotiations. Our previous goodwill and hope have been completely exhausted.” Lavrov added, “We have outlined our assessment of the current situation in Ukraine, including the actions of the West. While pretending to be prepared for negotiations, as the European side has already announced, the West has turned around and publicly issued an ultimatum to Russia.”According to the Wall Street Journal, Netflix (NFLX.O) is exploring the launch of live TV and more bundled packages in an attempt to improve user retention.On July 10th, U.S. Commerce Secretary Rutnick called on Samsung Electronics and SK Hynix to increase their memory chip production in the United States to help alleviate the global shortage of key components for artificial intelligence development. Rutnick confirmed that he is in talks with the two South Korean memory chip manufacturers but did not disclose specific details. He acknowledged that Micron CEO Mehrotra might not welcome competitors expanding their presence in the U.S., but Rutnick stated that this move is necessary to strengthen the U.S. chip supply chain. "You know, he (Mehrotra) wont like this, but I want to bring his competitors—Samsung and SK Hynix—to the U.S. to set up factories," Rutnick said. "Micron is currently in the lead. Other companies are bound to be envious, right? So they have to follow suit."

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