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The Norwegian Offshore Authority: Statoil and its partners have discovered oil in the "POLYNYA TUBAEN" exploration target area. The discovered reservoir is estimated to contain between 14 million and 24 million barrels of crude oil.1. Bank of America: With both inflation and long-term growth expectations revised upwards, Powell may acknowledge the risks of stagflation while emphasizing a wait-and-see approach. 2. Morgan Stanley: Powell may choose to ignore energy-driven inflation, the dollar faces downside risks, and oil prices will play a central role in the foreign exchange market. 3. Trade France: With the risks of its dual mandate increasing, Powell is unlikely to provide clear guidance on the timing of interest rate cuts this year, instead continuing his data-dependent stance. 4. Rabobank: Under Powells leadership, the Fed is likely to maintain a wait-and-see approach, attempting to balance inflation risks and slowing growth. 5. Deutsche Bank: Powell is likely to emphasize that the Middle East situation primarily affects the economy through financial conditions, particularly volatile oil prices. According to the latest data from the General Administration of Customs, in February 2026, China imported 2.5 million tons of timber and timber products, a year-on-year decrease of 30.6%; from January to February, cumulative imports totaled 5.87 million tons, a year-on-year decrease of 13.5%. In February, China exported 1.33 million tons of timber and timber products, a year-on-year increase of 69.9%; from January to February, cumulative exports totaled 2.99 million tons, a year-on-year increase of 34.4%.The European Union: European Commission President Ursula von der Leyens visit to Australia aims to strengthen relations between the EU and its trusted, like-minded partners in the strategically vital Indo-Pacific region.1. Deutsche Bank: Policymakers are expected to emphasize the significantly increased geopolitical uncertainty. 2. Morgan Stanley: The Federal Reserve is not expected to respond to the oil price shock by raising interest rates or hinting at the risk of such a hike. 3. RBC Capital Markets: The recent energy price shock is not enough to put a rate hike on the agenda, but may prompt the Fed to remain on the sidelines. 4. Rabobank: If the war situation worsens, the US economy will face the dual pressures of a sharp rise in inflation and a significant slowdown in growth in 2026. 5. Bank of America: With slowing employment and exhausted fiscal stimulus, rising oil prices will weaken consumer spending, creating conditions for the Fed to ease monetary policy. 6. ANZ: Uncertainty from the Middle East geopolitical situation is not expected to substantially change the Feds underlying fundamental assessment of falling inflation and cooling employment. 7. Commerzbank: As long as inflation expectations remain stable and the labor market continues to face downward pressure, the Fed is likely to temporarily ignore the temporary rise in oil prices.

Gold Price Prediction: XAU/USD Expects a Steady Advance to $1,980 – Confluence Detector

Alina Haynes

Feb 02, 2023 15:58

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In the early hours of Thursday, the gold price (XAU/USD) reached $1,952.50, which is the highest level since April 2022. In doing so, the XAU/USD bulls appear to take a breather after climbing the highest in two weeks, as markets prepare for a couple more central banks and the U.S. employment report.

 

Nonetheless, the Gold price rose sharply the day before after the US Federal Reserve (Fed) weakened the US Dollar with its highly anticipated and anticipated dovish raise of 0.25 percent. However, the most attention was paid to the Fed's statement indicating waning inflationary pressure and Chairman Jerome Powell's suggestions of rate reduction in late 2023 if inflation falls more quickly. Additionally supporting the XAU/USD bulls were disappointing US data and anticipation for additional stimulus from China, not to mention rising equities and declining US Treasury bond yields.

 

In addition, monetary policy meetings of the European Central Bank (ECB) and the Bank of England (BoE) could indirectly influence the price of gold via the US dollar and market sentiment. However, the January jobs report for the United States will be an important indicator on Friday.