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On June 7, according to the Islamic Republic News Agency (IRNA), Iranian First Vice President Ariff stated that all senior officials are completely aligned on Irans negotiating strategy and refuted any claims of disagreement regarding the negotiating text or agenda. Ariff stated that Tehran has adopted a clear and coordinated approach in the negotiations. He said, "Iran has developed a clear strategy in the negotiations, and all officials are implementing it in a fully coordinated manner." He added that officials "have no disagreement on the negotiating text and agenda." He was referring to the ongoing indirect negotiations between Iran and the United States, aimed at permanently ending the war waged by the United States and Israel against Iran. Ariff also emphasized Irans experience in dealing with two wars, stating that Iran has drawn valuable crisis management experience from them.June 7th - According to Nikkei, while major cities worldwide are expanding their tree cover to curb rising summer temperatures related to climate change, the number of street trees in Japan has plummeted from its peak, with a shift towards planting species with limited canopy growth. According to statistics from the University of Tokyo, Tokyos canopy cover (the percentage of land area covered by branches, trunks, and leaves) has decreased from 9.2% in 2013 to 7.3% in 2022. This means that approximately 12 square kilometers of shaded area disappeared during this period, roughly equivalent to 250 large baseball fields. Even Phoenix, the capital of Arizona, a desert-surrounded city, has a higher tree cover than Tokyo, reaching 11% in 2024.British Airways CEO said that if fuel costs remain high, airfares will rise again.June 7th - According to recent news from Japan, due to the deteriorating situation in the Middle East, aviation fuel prices continue to rise. All Nippon Airways (ANA) and Japan Airlines (JAL) have basically decided to significantly increase fuel surcharges for international routes booked in July and August. The one-way fuel surcharge for North American and European routes booked in May and June has already reached 56,000 yen (approximately 2,363 yuan), and is expected to increase further, potentially breaking the record and reaching 65,000 to 70,000 yen (approximately 2,743 to 2,954 yuan). The specific increase is currently being coordinated with the Ministry of Land, Infrastructure, Transport and Tourism and other departments, and will be finalized soon. It is understood that ANA and JAL have already significantly increased their international fuel surcharges for June, with an increase of over 70% compared to April and May.APK-Inform has revised its 2026 wheat production forecast for Ukraine upward to 21.7 million tons from 19.9 million tons. It has also revised its 2026 grain production forecast for Ukraine upward to 58.7 million tons from 56.9 million tons.

Gold Price Prediction: XAU/USD declines toward 200-SMA retest as yields support US Dollar recovery

Alina Haynes

Mar 02, 2023 15:52

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During the first day of losses in four prior to the European session, the gold price (XAU/USD) oscillates around the intraday low of $1,831. In doing so, the precious metal validates the stronger US Dollar and risk-averse market sentiment on a slow Thursday.

 

US Dollar Index (DXY) rebounded from a one-week low to 104.60 at the latest, up 0.17 percent intraday, as greenback supporters tracked robust US Treasury bond yields and cheered sour sentiment amid hawkish Federal Reserve (Fed) talks. The increase in US Treasury bond yields reflects the market's apprehension, which has recently pressured Wall Street investors and weighed on S&P 500 Futures. On the same side may be the ardent Minneapolis Federal Reserve (Fed) President Neel Kashkari, as well as the policymakers of the Bank of England (BoE) and the European Central Bank (ECB).

 

Gold purchasers are encouraged by the recent improvement in China's economic data and the country's policymakers' upbeat remarks. China's Minister of Human Resources recently stated, "China's employment will continue to increase this year and remains stable overall." On Wednesday, China's Finance Minister Liu He expressed a willingness to increase the country's fiscal expenditure while noting that the foundation of China's economic recovery remains fragile.

 

Moving on, G20 updates could be combined with central banker comments and US secondary data to amuse XAU/USD traders.


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