EUR/USD 1.14153
-0.125%
Gold 4108.33
-0.370%
Oil 71.472
-0.264%
USD/JPY 161.729
-0.397%
GBP/USD 1.33978
-0.077%
GBP/JPY 216.686
-0.473%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
The China Earthquake Networks Center officially measured a 3.8-magnitude earthquake in Arong Banner, Hulunbuir City, Inner Mongolia, at 05:09 on July 12, with a focal depth of 10 kilometers.The National Press Club of America has called on the U.S. Department of Justice to immediately withdraw the subpoena for the New York Times reporter.On July 12th, Meta announced that earlier this week, users could generate images in Meta AI by mentioning public Instagram accounts they wanted to reference. This feature, which allowed referencing public content by default, drew criticism from organizations such as the Screen Actors Guild, who argued it could infringe on portrait rights and pose criminal risks. Meta stated that its initial intention was to provide a practical creative tool and allow users to control whether their public content was allowed to be referenced in this way, but after receiving user feedback that the feature failed to achieve its intended effect, it has been removed.July 12 - Jorge Rodríguez, president of the Venezuelan National Assembly, said at a press conference in Caracas, the Venezuelan capital, on July 11 that the two strong earthquakes that struck the country on June 24 have killed 4,333 people and injured 16,740. The latest official statistics from Venezuela show that 1,202 aftershocks have been recorded since the initial earthquakes.Ukrainian President Zelensky called on Ukraines diplomatic efforts to focus on urging allies to implement arms supply agreements more quickly.

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