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NIO President Qin Lihong: Due to multiple factors, including a shortage of memory chips, the cost of high-end electric vehicles may increase by 6,000 to 10,000 yuan this year.At the close of trading in Hong Kong stocks, the Hang Seng Index fell 0.24%, and the Hang Seng Tech Index fell 0.11%. NIO (09866.HK) rose 14.05% for the day, while MiniMax (00100.HK) and Zhipu (02513.HK) fell more than 6%.On March 11, T. Rowe Price portfolio manager Vincent Chung stated in a report that the Bank of Japan (BOJ) is likely to keep interest rates unchanged in March due to the need for time to reassess the current geopolitical situation. He believes the bank may take monetary policy action in April, as wage negotiation data will be available then. He noted that recent factors such as rising oil prices have exacerbated inflation risks, and persistently high oil prices could be a long-term drag on the BOJs policy inaction. Chung also pointed out that the market may be concerned about potential yen intervention, but the recent yen depreciation is consistent with other foreign exchange peers. He added that if the BOJ sends a dovish signal at its March meeting, it could put further pressure on the yen.Oracle (ORCL.N) shares rose more than 11% in pre-market trading after its fiscal year revenue guidance exceeded expectations.Fitch: If the airspace disruption in West Asia continues, passenger traffic at airports in the Asia-Pacific region, especially in India, is likely to fluctuate in the near future.

Gold Price Prediction: XAU/USD measures support around $1850 as DXY demonstrates weariness; US Inflation anticipated

Daniel Rogers

Jun 10, 2022 14:31

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After a slight retracement from $1,850.37, the gold price (XAU/USD) is seeking a firmer base at $1,845.00. After falling to around $1,840.00, the precious metal exhibited a receptive purchasing response. A responsive buying move often occurs when market participants perceive the item to be a value wager.

 

On a global scale, the precious metal is trading sluggishly; nevertheless, the announcement of US inflation data will spark explosive movement in the counter. Investors are concerned that the US Consumer Price Index (CPI) is not showing any impact despite the Federal Reserve's quantitative tightening initiatives (Fed).

 

The annual US CPI is expected to remain unchanged at 8.3 percent, according to market opinion. In the past three months, the Fed has increased interest rates by 0.75 percent and implemented a rapid balance sheet reduction program. One may argue that the pricing pressures are so intense that significant quantitative tightening measures are required for a substantial price decline to occur.

 

The US dollar index (DXY) has exhibited symptoms of fatigue after failing to exceed Thursday's high of 103.37. A higher-than-anticipated inflation rate will bolster the DXY bulls and set them up for a more rapid ascent.

Technical Analysis of Gold

On a four-hour time period, gold prices are exhibiting a protracted consolidation. The precious gold is fluctuating between $1,828.55 and $1,871.16 per ounce. At $1,849.70, the Exponential Moving Average (EMA) of 21 periods intersects with gold prices. In addition, the Relative Strength Index (RSI) (14) oscillates between 40.00 and 60.00, indicating that the asset is seeking a catalyst for a dramatic rise.

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