EUR/USD 1.10678
0.144%
Gold 3110.17
-0.130%
Oil 66.196
-0.163%
USD/JPY 146.052
-0.009%
GBP/USD 1.31005
0.011%
GBP/JPY 191.337
0.019%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On April 4, the Yangtze River Delta Railway ushered in the peak of passenger flow during the Qingming Festival. It is expected to send 4.1 million passengers today, 365,000 more than the same period last year, an increase of about 9.8%, and is expected to set a new record for single-day passenger volume. This years Qingming Festival railway transportation will start from April 3 to 7. The Yangtze River Delta Railway is expected to send 17.6 million passengers in 5 days, with an average daily passenger flow of 3.52 million, a year-on-year increase of 6.8%.The yield on the two-year U.S. Treasury note fell to a six-month low of 3.6550% and was last at 3.6611%.On April 4, local time on April 3, U.S. Secretary of Health and Human Services Robert Kennedy Jr. said that about 20% of the layoffs in the Department of Government Efficiency were wrong and needed to be corrected. The U.S. Department of Health and Human Services laid off about 10,000 people on the 1st. Kennedy said that people who should not have been laid off were laid off, and the department is restoring their positions. Kennedy said that canceling the entire lead poisoning prevention and monitoring department of the Centers for Disease Control and Prevention was one of the mistakes. At present, it is unclear what other projects Kennedy may plan to restore.Bank of Japan Governor Kazuo Ueda: Will consider the impact of food costs on consumers.On April 4, local time on the 3rd, the automobile company Stellantis said that due to the impact of the US import automobile tariff policy, the company decided to lay off 900 employees in its five US factories and suspend production operations at two assembly plants in Canada and Mexico. Antonio Filosa, Chief Operating Officer of Stellantis Americas, said that the US factories that were laid off were powertrain and stamping parts factories, which produced spare parts for two assembly plants in Canada and Mexico. According to the plan, the assembly plant in Canada will stop production for two weeks, and the assembly plant in Toluca, Mexico will suspend production throughout April. Filosa said the company is "continuing to evaluate the medium- and long-term impact of tariffs on operations."

Forecast for the Gold Price: XAU/USD bulls return, market remains tense

Alina Haynes

Dec 27, 2022 10:57

240.png

 

According to yesterday's analysis, Gold Price Forecast: XAU/USD bulls must commit at critical trendline support, the Gold price has found demand at the aforementioned support region and has moved back in line with the larger bullish trend. On Friday, ahead of the Christmas holidays and long weekend, the price of gold inched up, aided by Friday's falling inflation statistics.

 

US consumer spending rose 0.1% in November after rising 0.4% in October, indicating that inflation is moderating, but not enough for markets to anticipate a policy shift from the Federal Reserve or a halt in their rate-hike trajectory. The index of personal consumption expenditures (PCE) decreased by 0.5 percentage points from October to 5.5% annually. Excluding volatile food and energy costs, the index increased on a monthly and annual basis by 0.2% and 4.7%, respectively, in accordance with expectations. The increased revision of October PCE inflation data is terrible news for the gold market.

 

Thursday's US Gross Domestic Product and Jobless Claims figures revealed that the nation's economy returned quicker than previously predicted and that the labor market remains extremely tight. Overall, the plethora of data offers little to alter the belief that the Fed will stick to its plan to combat inflation in 2023. The non-yielding, non-interest-bearing asset is on course for a second consecutive year fall as a result of these rate hikes enacted to curb price pressure.

 

According to Brown Brothers Harriman analysts, the markets continue to remain skeptical of the Fed. "After reaching a high of 5.5% following the most recent FOMC meeting, the terminal rate as observed on the swaps market has fallen down to approximately 5%," analysts explained. "Similarly, WIRP predicts a 50 bp increase on February 1 is priced in at only 33%, followed by a final 25 bp increase on March 22. We cannot see why the markets continue to oppose the Federal Reserve. With the exception of a few communications blunders here and there, chairman Jerome Powell and his colleagues have been firm about the need to raise interest rates for an extended period of time. Recent US data indicate that the labor market remains robust and that the Fed must take additional action.


Suggestion