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On September 3, it was reported that on September 2, local time, Judge Deborah Bodman of the U.S. District Court for the District of Maryland issued a preliminary injunction to block the Trump administration from enforcing a new executive order. This executive order aimed to limit the number of people eligible for birthright citizenship. After returning to the White House in January 2025, Trump signed an executive order stipulating that newborns whose parents are neither U.S. citizens nor lawful permanent residents would not automatically acquire U.S. citizenship. On June 30 of this year, the U.S. Supreme Court overturned this executive order.September 3 – According to US financial media Semafor, Sean Parnell, the chief spokesman for the US Department of Defense, is emerging as a leading candidate to succeed Army Secretary Dan Driscoll, who resigned this week. Multiple Trump administration officials and sources familiar with the matter revealed that Parnell has not yet received a final appointment, but there is considerable support within the government for his succession. Parnell has close ties to Defense Secretary Peter Hegseth and has served as the chief spokesman for the Department of Defense since Trumps second term. Florida Republican Congressman Brian Mast is also on the shortlist; he recently met with Hegseth. Mast has the support of House Armed Services Committee Chairman Mike Rogers, but his public support for the Israeli government could provoke discontent among some of Trumps political base. Meanwhile, if Parnell is nominated, he may face confirmation challenges due to the support of Republican hawks for Driscoll and past allegations of domestic violence against him.According to US financial media Semafor, Florida Republican Congressman Brian Master is also one of the candidates to succeed Driscoll as Secretary of the Army.According to US financial media Semafor, Sean Parnell has emerged as the leading contender for the position of Secretary of the Army.September 3 – Japanese companies are considering selling strategic holdings and other assets to offset the impact of the highest financing costs in a generation. A survey of 30 Japanese non-financial companies shows that they are also considering measures such as increasing overseas borrowing and raising funds in advance. Rising financing costs have begun to affect corporate investment decisions. Companies such as Toyota Motor and Tohoku Electric Power expect their annual interest expenses to increase by more than 30% if they refinance yen-denominated bonds.

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

Daniel Rogers

Sep 15, 2022 11:37

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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.