EUR/USD 1.14830
0.071%
Gold 4393.51
1.196%
Oil 95.658
-0.889%
USD/JPY 157.063
0.702%
GBP/USD 1.33722
0.109%
GBP/JPY 210.036
0.816%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Japanese Economy, Trade and Industry Minister Minoru Jonouchi: I will not comment on market fluctuations.On September 18, the State Council Information Office held a press conference to introduce the relevant information about the 140th China Import and Export Fair (Canton Fair). Zhang Li, Assistant Minister of Commerce, announced at the conference that the 140th Canton Fair will be held in Guangzhou in three phases from October 15 to November 4.Bank of Japan Governor Kazuo Ueda will hold a monetary policy press conference in ten minutes.Japanese Minister of Economy, Trade and Industry, Minoru Shirou: The specific details of monetary policy decisions will be made by the Bank of Japan.British retail sales unexpectedly rose in August, with warmer weather and a more optimistic national sentiment encouraging spending, despite rising energy bills. The Office for National Statistics reported that total sales of goods online and in physical stores increased by 0.5%, compared to a 0.5% decline in July. The growth was mainly driven by sales of clothing, food, and department store goods. This helped offset the decline in fuel sales, as higher oil prices prompted Britons to drive less. These figures are positive for Prime Minister Burnham, who pledged to improve the standard of living in “every postcode” when he took office in July. So far, British consumers have continued to spend despite the Iranian energy shock, thanks to sunny weather, a healthy savings buffer, and government cost-of-living announcements. However, this period of optimism is nearing its end. Bank of England officials voted on Thursday to keep interest rates unchanged at 3.75%, but hinted that rates could rise if the Middle East conflict continues. Employers are laying off workers, and a 25% rise in energy prices in January is expected, potentially pushing inflation above 4%.

Gold Price Prediction: XAU/USD soars above $1,780 amidst a turbulent US Dollar; US CPI in the focus

Daniel Rogers

Dec 13, 2022 12:07

181.png 

 

Gold price (XAU/USD) rebounded after falling below the critical level of $1,780.00 during the Asian session. The precious metal had a significant decline on Monday as investors anticipate the Federal Reserve (Fed) to signal a higher interest rate peak for CY2023.

 

A resurgence in the price of gold is contingent on an improvement in risk appetite. The US Dollar Index (DXY) has fallen below 105.00 in early trading, and further losses are anticipated in the days ahead. On Monday, S&P500 futures rebounded well as investors shrugged aside the uncertainty caused by inflation predictions. Yields on 10-year US Treasuries have under pressure and fallen below 3.60 percent as the Fed is very likely to signal a pause in future interest rate hikes.

 

A fall in one-year consumer inflation forecasts in the United States has also diminished consensus on casual inflation statistics. In November, the economic data decreased to 5.2% from 5.9% in October, marking the largest one-month loss on record. The headline inflation rate is anticipated to decline to 7.3% from 7.7%.

 

Analysts at JP Morgan Chase & Co. believe that a weak reading of the United States Consumer Price Index (CPI) might unleash a significant surge in U.S. stocks. Bloomberg reports that the 500-stock index of the United States might gain up to 10% if headline inflation falls to 6.9% or less.

Suggestion