EUR/USD 1.15678
0.343%
Gold 4376.09
0.578%
Oil 81.485
1.319%
USD/JPY 159.356
-0.090%
GBP/USD 1.35343
0.362%
GBP/JPY 215.682
0.268%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On August 16th, Sophie Huynh, Portfolio Manager and Strategist at BNP Paribas Asset Management, stated that Europe is more likely to be a beneficiary of AI than a developer, with the automotive industry being one of the beneficiaries. Currently, European automotive stocks are so cheap that almost no one is really considering their upside potential. The key is understanding when the market will start talking about this, as it may take a year or two of holding these deep value sectors before the market consensus realizes it truly works. Many positive news regarding US consumer spending has already been priced in by the market, so the momentum of the US economy is slowing, while Europe is just beginning to recover.August 16 - According to a report released by the Indonesian Meteorology, Climatology and Geophysics Agency, a 5.7-magnitude earthquake struck 81 kilometers northeast of Ruten Township, Manggarai Regency, East Nusa Tenggara Province, Indonesia, at 2:51 p.m. Central Time on August 16, with a focal depth of 10 kilometers.According to Irans Tasnim News Agency, the Iranian Revolutionary Guard stated that Qatar should allow an Iranian team of experts to investigate the missing pilots disappearance, rather than denying that the pilot had been detained.August 16 - Explosions were heard in Kyiv, Ukraine on August 16 local time.According to Irans Tasnim News Agency, the head of the Iranian militarys missing personnel stated that Qatar must allow an Iranian Air Force investigation team into the country.

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