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July 4, US police said on the 3rd that a drive-by shooting and run incident occurred in downtown Chicago on the evening of the 2nd, killing 4 people and injuring 14 people. Preliminary investigations showed that the incident occurred at the venue where a local rapper held a new album release conference. The gunman fired at the crowd from a car and then drove away from the scene. The victims included 13 women and 5 men, aged between 21 and 32. Two men and two women were killed, and many people were seriously injured. The injured have been sent to the hospital for treatment. The suspect is currently on the run and his motive is under investigation.July 4th news: On July 3rd local time, Ukrainian President Zelensky said at a press conference in Copenhagen, Denmark that if peace between Russia and Ukraine is to be achieved, a direct meeting between the leaders of Ukraine and Russia is indispensable. Zelensky pointed out that US President Trump and Russian President Putin are two completely different people, and it is not certain whether there are many common views or topics between the two. But as far as Ukraines own position is concerned, Ukraine has always supported Trumps previous unconditional ceasefire initiative.Feds Bostic: Forward guidance will not work in current environment.French President Emmanuel Macron: I will speak with the Iranian President about this matter and do not rule out retaliatory measures.Feds Bostic: This will have an impact on the effectiveness of monetary policy, making interest rates more independent of the Fed.

Forecast for Gold Price: XAU/USD bulls want confirmation from $1,905

Daniel Rogers

Feb 06, 2023 15:36

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Gold price (XAU/USD) recovers from monthly low, grinding higher at intraday highs near $1,878 as the European session begins on Monday. In doing so, the yellow metal reverses a two-day slump in the face of a sluggish US Dollar, negative sentiment, and aggressive Fed sentiment.

 

The positive US jobs report and ISM Services PMI on Friday rekindled speculation that the Federal Reserve (Fed) had leeway to raise interest rates. However, the US shooting of a Chinese balloon and the cancellation of US Secretary of State Antony Blinken's visit to Beijing weigh on the market's risk profile. In the same vein, China warned not to exacerbate the delicate situation and described the incident as a "obvious overreaction."

 

The US Dollar Index (DXY) stays passive despite a comeback in US Treasury bond yields and slight losses in stock futures. The cause may be the DXY bull's hesitation ahead of Fed Chair Jerome Powell's speech on Tuesday.