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According to informed traders, the Reserve Bank of India sold dollars in the domestic foreign exchange market on Tuesday to support the rupee exchange rate.September 8th - U.S. small business confidence dipped slightly in August, with uncertainty remaining high and expectations for an improving business environment declining. The National Federation of Independent Business (NFIB) reported that its Small Business Optimism Index fell 1.1 points to 98.7 in August. Despite the decline, the reading remains above the 52-year average and previously reached its highest level since August 2025 in July. The NFIB survey provides a monthly snapshot of U.S. small businesses, which account for nearly half of private sector employment, are generally more sensitive to price fluctuations, interest rate hikes, and macroeconomic uncertainty than larger businesses. NFIB Chief Economist Bill Dunkelberg stated that small business owners face a mix of challenges, including weak sales, supply chain disruptions, and inflationary pressures, and uncertainty remains high. The Uncertainty Index fell 2 points to 89 in August, but remains above the historical average of 68.The U.S. NFIB Small Business Confidence Index for August was 98.7, down from 99.8 in August.September 8th - According to Coherent, the company will showcase its innovative products and full-stack photonic solutions for AI computing power, data centers, and high-speed optical communications at the 2026 China International Optoelectronic Exposition (CIOE), demonstrating how photonic technology empowers high-speed interconnectivity and computing power upgrades in the AI era. In the area of high-speed rack interconnects, the company will cover diverse technology routes including silicon photonics, VCSEL multimode, and InP, with its booth featuring solutions such as 6.4T slot-type CPO, 1.6T VCSEL NPO, and 12.8T XPO.A Ukrainian drone strike in Russias Kursk region killed one person.

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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