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The Office of the United States Trade Representative stated that during the U.S.-Mexico negotiations, both teams held in-depth discussions on rules of origin and economic security issues for certain industrial products. The U.S. has also begun conceptual discussions on agriculture, labor, and the environment. The third round of negotiations will be held next month in Mexico City.On June 19th, according to Axios, US President Trump denied that the war with Iran exposed the limitations of his ability to wield power, stating that he still believes there are "no limits." Trump stated that he reached the agreement to prevent the war from escalating into a global economic recession. However, Trump denied feeling any humiliation from the experience. When asked what lessons he learned about the limitations of his power during the war, he said, "No limits." Trump claimed, "We completely defeated them militarily," and even suggested that the memorandum of understanding "could very well be unconditional surrender." He argued that the war actually demonstrated Americas military strength. "Who else can impose such a blockade? I imposed a naval blockade, and not a single ship could get through. Some people tried, but they didnt last long." His implication was that the consequences could have been very serious if the agreement had not been reached.The UKs GfK consumer confidence index for June was -23, compared to a forecast of -24 and a previous reading of -23.The UKs June GfK consumer confidence index will be released in ten minutes.U.S. State Department: We look forward to the ongoing dialogue between Venezuelan political parties and the interim government in the coming weeks.

Gold Price Prediction - Gold Prices Will Experience Declining Pressure as the Dollar Strengthens

Daniel Rogers

May 13, 2022 10:17

Gold prices are under pressure to decline as investors flock to the dollar as a safe-haven asset. The market became more risk-averse as a result of rising inflation statistics. The dollar rises as investors flock to the currency for its safe-haven attraction.

 

In response to strong inflation data, investors shifted into bonds and sold equities, lowering benchmark yields. Today, the yield on ten-year bonds fell 7 basis points.

 

This week, initial unemployment claims increased by 1,000 to 203,000 from the revised total of 202,000 previous week. The result conforms to the tight labor market. As workers are pushed to seek out better options, job postings and resignation rates have reached all-time highs.

 

The most recent CPI data indicates that the Fed is concerned about rising inflation. The CPI came in at 8.3%, which was stronger than anticipated. Nonetheless, the reading was lower than March's reading of 8.5%. The data supports the Fed's strategy to aggressively tighten interest rates in response to rising inflationary pressures.

Technical Evaluation

Gold prices fall below the 200-day moving average of $1,836 and are subject to bearish pressure that might drive gold prices to $1,800. Near the 200-day moving average at 1,836 is viewed as support. Near the 10-day moving average of 1,874, there is expected to be resistance.

 

As a result of the Fast Stochastic's crossover sell signal, short-term momentum is negative. As the fast stochastic displays a value of 9.79 below the oversold threshold of 20, prices are oversold.

 

As the MACD produces a crossover sell signal, medium-term momentum has gone negative. This occurs when the 12-day moving average minus the 26-day moving average crosses below the MACD line's 9-day moving average.

 

The trajectory of the MACD (moving average convergence divergence) histogram is negative, indicating falling prices.

 

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