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According to a report by Irans Fars News Agency, citing its journalists, Iran and the United States failed to reach a consensus on their differences in the latest round of negotiations.According to a report by a correspondent for Iranian state television in Islamabad, talks between Iran and the United States will continue on Sunday.April 12th - Significant differences remain between the US and Iran, primarily regarding the Strait of Hormuz and the unfreezing of funds. Meanwhile, Israel remains a potential disruptor. Iranian media and analysts point out that the current situation can be described as a transitional phase between war and peace, with the regional situation remaining fragile. A comprehensive agreement between Iran and the US in the short term is unrealistic, but reaching a preliminary framework or a lasting cessation of hostilities is not impossible—however, it is crucial to consider whether Israel will seriously undermine this process at a critical moment.On April 12, local time, the third round of talks between Iran and the United States in Islamabad concluded. Iran described this round as the "last chance" to reach a framework agreement. Since April 11, the two sides had a busy schedule, consulting late into the night, with all parties vying for the temporary ceasefire window and intensifying their maneuvering. However, sharp differences remained on three core issues: control of the Strait of Hormuz, unfreezing overseas assets, and uranium enrichment. Outside the negotiating table, the US military announced mine-clearing operations in the Strait of Hormuz, while the Israeli Prime Minister declared that he would continue to strike Iran and its proxies. With the ceasefire window closing, diplomatic maneuvering and military actions are escalating simultaneously, and the situation in the Middle East is at a crossroads between war and peace.April 12 - According to a statement released by the Iranian government early this morning (April 12) via social media, negotiations with the United States will continue despite some remaining differences. Iranian state television reported that the third round of talks between Iran and the United States concluded earlier, with expert teams from both sides attending and exchanging texts again.

As US NFP steals the spotlight, we expect the XAU/USD to drop to roughly $1,700 in the near future

Daniel Rogers

Aug 29, 2022 14:38

截屏2022-06-07 下午5.14.07.png 

 

After setting a new monthly low of $1,723.44 in the Tokyo session, the gold price (XAU/USD) is now indicating a less confident downward trend. The Federal Reserve (Fed) opted for price stability over growth on Friday at the Jackson Hole Economic Symposium, therefore the precious metal is projected to continue its downward trajectory for some time.

 

The Federal Reserve has little leeway to decrease the pace of its interest rate hikes in August due to signals of inflationary pressures. While economic activities in the United States showed significant slowing down because of decreasing liquidity in the economy. Market veterans anticipated that the Fed would slow the pace at which it was rising interest rates in light of the two factors. To counteract this, the Fed prioritized maintaining price stability.

 

The future of the United States hinges on the information provided by the Nonfarm Payrolls (NFP) report. We anticipate the economic statistics to come in at 290k, which is a decrease from the 528k reported in the previous release. The slowdown in job growth should not be seen as a huge concern by investors. Since the US economy has been at full employment for the past six months, much of the room for new jobs has been eliminated.

 

Gold prices have fallen below the 61.8% Fibonacci retracement level (set at $1,729.35 from the low of $1,680.91 on July 21 to the high of $1,807.93 on August 10) on an hourly time frame. Both the 20-period and the 50-period Exponential Moving Averages (EMAs) are trending downward, adding further filters to the downside at $1,738.08 and $1,745.84, respectively. The Relative Strength Index (RSI) (14) has moved into the negative zone of 20.00-40.00, indicating further declines ahead.


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