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According to multiple sources familiar with the matter, a meeting was held this morning by relevant departments. The meeting required all pig farming companies to report their annual production targets and to fulfill their commitments to reduce production, including reducing the number of breeding sows and the number of pigs slaughtered annually.Bank of Japan Governor Kazuo Ueda will hold a monetary policy press conference in ten minutes.According to Irans Nour News, Irans ambassador to the United Nations stated in a letter to the UN Secretary-General that the United Arab Emirates bears responsibility for compensation for "allowing the United States to launch airstrikes against Iran from its territory."1. Reuters poll: The European Central Bank (ECB) is expected to keep interest rates unchanged, with 67 out of 72 economists surveyed predicting it will maintain rates at 2% until the end of 2026. 2. BNP Paribas: The ECB is expected to keep interest rates unchanged, but if the conflict escalates and the energy supply chain is severely damaged, the central bank is highly likely to be forced to restart the rate hike process. 3. Vanguard: The ECB is expected to keep interest rates unchanged, and is expected to remain on hold until the end of the year, but has eliminated its previous downward bias on the policy rate outlook. 4. ABN AMRO: The ECB is expected to keep interest rates unchanged, but in a negative outlook, Eurozone inflation may be significantly higher than the baseline, and the ECB may raise rates starting in April. 5. Citigroup: The ECB is expected to keep interest rates unchanged, with uncertainty providing a reason for remaining on hold, but the possibility of several precautionary rate hikes cannot be ruled out. 6. Goldman Sachs: The ECB is expected to keep interest rates unchanged, but in the event of an extremely unfavorable energy situation, the bank may raise rates by 25 basis points three times consecutively starting in June, or even in April. 7. Ebury Group: The ECB is expected to keep interest rates unchanged. The war makes the next move more likely to be a rate hike than a rate cut. Lagarde is likely to say that "the ECB will not allow a dangerous surge in inflation." 8. TS Lombard: The ECB is expected to keep interest rates unchanged. Although pricing in a rate hike this year was too aggressive, the threshold for a rate hike next year has actually lowered, considering that higher natural gas prices are now the baseline scenario. 9. Danske Bank: The ECB is expected to keep interest rates unchanged, while emphasizing vigilance against upside risks to inflation. Rising energy prices complicate the policy outlook, and policymakers are more inclined to maintain policy flexibility. 10. Berenberg Bank: The ECB is expected to keep interest rates unchanged. Even if the war continues longer, the ECB will not raise rates until the second half of 2027 due to the economic stagnation caused by energy price shocks. 11. Nordeabank: The ECB is expected to keep interest rates unchanged. The March economic forecast may not have fully incorporated the impact of the war, and is expected to show slightly better economic growth and slightly lower inflation. 12. KfW: The ECB is expected to keep interest rates unchanged, as current energy price increases have not lasted long enough to force the central bank to raise rates; the word "vigilance" may become a word frequently used by Lagarde. March 19 - According to information obtained from Iranian sources on March 19 local time, recent attacks by the United States and Israel on Iranian medical institutions have resulted in the deaths of at least 18 medical personnel.

Gold Price Prediction: XAU/USD Volatility Decreasing Above $1,860 Prior to US Inflation

Alina Haynes

Feb 13, 2023 14:32

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Gold price (XAU/USD) volatility is decreasing ahead of U.S. inflation data that could provide fresh momentum. The price of the precious metal is fluctuating above $1,860.00. Nonetheless, the downside appears to be preferred as market players' risk appetite plummets.

 

During the Asian session, the US Dollar Index (DXY) is battling to break above the crucial resistance level of 103.35. S&P500 futures have suffered more losses as quarterly earnings have dampened expectations for risk-perceived assets. In addition, the repeated destruction of unexplained flying objects by the Pentagon's radar has impacted market sentiment. The alpha generated by 10-year US government bonds has fallen below 3.74 percent.

 

The Federal Reserve (Fed) has reignited concerns about future interest rate hikes, which has frightened market sentiment. Patrick Harker, president of the Federal Reserve Bank of Philadelphia, anticipates that interest rates will exceed 5% this year, as inflation remains elevated. He believes that higher interest rates should be maintained for a longer period of time to attain price stability.

 

The announcement of the US Consumer Price Index (CPI) will provide reassuring information for interest rates. According to a Reuters survey, both the headline and core CPI are anticipated to increase by 0.4% on a monthly basis.