• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Domestic News: 1. my country achieves significant breakthrough in the research and development of superconducting magnets for nuclear fusion reactors. 2. Wuhan Optics Valley introduces a package of new policies for science and technology finance, aiming to have over 100 listed companies. 3. National Bureau of Statistics: Industrial enterprise profits increased by 18.8% year-on-year in the first five months, with the electronics industry contributing over 40%. 4. Vice Premier Zhang Guoqing emphasized during his research visit to Zhejiang the need to strengthen the deep integration of scientific and technological innovation and industrial innovation. International News: 1. US Secretary of State Rubio: Pushing for Trumps visit to India early next year. 2. The US government may lift restrictions on the Anthropic Fable 5 model as early as next week. 3. ECB Executive Board member Schnabel: Price pressures may remain stronger than expected, and further interest rate hikes are anticipated. 4. A magnitude 6 earthquake struck the Hindu Kush region of Afghanistan, with tremors felt in the capital, Kabul. 5. Middle East Situation—① Israeli Army Radio: The Israeli army will reduce its forces in southern Lebanon and withdraw several combat brigades. ② Joint Maritime Information Center: The maritime security threat level in the Taiwan Strait has been raised from "moderate" to "high". ③ Following the Iranian Revolutionary Guards strikes on vessels violating regulations, more ships are seeking permission from Iran. ④ After the framework agreement between Lebanon, Israel, and the US, the Israeli military launched another attack on southern Lebanon. ⑤ Hezbollah: The Israel-Lebanon framework agreement is invalid, and it refuses to link Israeli troop withdrawal with Hezbollahs disarmament. On June 27th, European Central Bank (ECB) Executive Board member Schnabel warned that even if a US-Iran peace agreement reopens the Strait of Hormuz, price pressures could still be stronger than expected. Schnabel stated on Saturday that "food, goods, and services inflation face upside risks," and that energy price shocks could spread to a wider range of sectors. While welcoming the recent drop in energy prices due to the prospect of a US-Iran peace agreement, she warned that a ceasefire should not be a reason for complacency. She stated, "Uncertainty remains high, but the announced peace agreement reduces the likelihood of a negative scenario." Nevertheless, oil prices are expected to remain high because the Strait of Hormuz is only gradually reopening. Schnabel, considered the most hawkish member of the Governing Council, reiterated that "the ECB expects further interest rate hikes to bring inflation back to 2% in the medium term." She noted that consumer inflation expectations have risen. However, there are no signs of wage pressures yet.The United Nations estimates that the Venezuelan earthquake could affect approximately 6.8 million people.ECB Executive Board member Schnabel: The ECB is expected to raise interest rates further.ECB Executive Board member Schnabel: There are currently no signs of wage pressure.

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.