EUR/USD 1.16981
-0.353%
Gold 4689.57
-0.542%
Oil 98.127
-0.593%
USD/JPY 157.878
0.171%
GBP/USD 1.35120
-0.203%
GBP/JPY 213.330
-0.029%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Former Bank of Japan Governor Haruhiko Kuroda: Since the conflict in Ukraine, rising oil prices and the interest rate differential between the US and Japan may be the reasons for the yens depreciation, which led Japan to intervene in the foreign exchange market to prevent the yen from falling below 160 against the dollar.Former Bank of Japan Governor Haruhiko Kuroda: It is unlikely that the yen will fall below the 160 mark against the dollar, as Japanese authorities appear to be defending this level through intervention.Asset management firm Jupiter increased its holdings of European government bonds, believing that market expectations for European Central Bank interest rate hikes were too aggressive.According to NTV, Japanese Prime Minister Sanae Takaichi will visit the UK and Italy ahead of the G7 summit in France in June.May 13th - With the US waiver for sanctions on Russian crude oil potentially not being extended after this weekend, Indian refiners may be forced to reduce their imports of Russian crude while grappling with the ripple effects of the conflict with Iran. According to foreign media citing sources, the US has not yet clarified whether it will extend the waiver policy, which allows countries including India to continue purchasing Russian crude after May 16th. Kpler data shows that Indias Russian oil imports have reached a record 2.3 million barrels per day since the beginning of May. However, if no new Russian oil shipments arrive in India, the total import volume for the month is expected to drop to 1.9 million barrels per day.

Gold price prediction: XAU/USD slips to $1,690 on Fed forecasts; US retail sales expected

Daniel Rogers

Sep 15, 2022 11:37

 116.png

 

Gold price (XAU/USD) has adopted a downward trend after falling below Wednesday's minimum of $1,693.67. The precious metal is falling nearing $1,690.00 as bears take control of rising probabilities for a massive Federal Reserve (Fed) rate hike in the near future.

 

Earlier symptoms of weariness have dissipated as a result of Tuesday's higher-than-anticipated US Consumer Price Index (CPI) report. Despite declining gasoline costs, the headline US CPI was announced at 8.3%, which was higher than the 8.2% prediction. The investment community believed that inflation had begun to respond to the Federal Reserve's (Fed) raising interest rates and that a succession of declining price pressures would soon enable the Fed to adopt a 'neutral' stance.

 

However, a US inflation report that exceeded forecasts demonstrates that the road to a neutral monetary policy is far from complete. Moreover, predictions of a one percent rate increase are currently ascendant.

 

In today's session, the US Retail Sales report will be of paramount importance. The economic data estimates do not indicate any improvement in retail demand. This could be the outcome of a fall in consumer confidence in the economy.

 

The gold price has experienced a precipitous decline after demonstrating a textbook-style test and the collapse of a consolidation pattern. On an hourly scale, the consolidation formed within the region of $1,697.12-1,709.62. At $1,698.70, the yellow metal is trading below the 20-period Exponential Moving Average (EMA), which increases the downside filters.

Suggestion