EUR/USD 1.16165
0.112%
Gold 4547.55
1.792%
Oil 88.033
0.328%
USD/JPY 158.736
-0.014%
GBP/USD 1.34185
0.077%
GBP/JPY 213.004
0.061%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Minutes of the Bank of Japans January meeting: The committee unanimously agreed that, given the significantly low level of real interest rates, it would be appropriate for the Bank of Japan to continue raising interest rates should its outlook for economic activity and prices materialize. Regarding the pace of policy adjustments, most committee members believed that decisions should be made on a case-by-case basis at each meeting.Minutes of the Bank of Japans January meeting: One member stated that the central bank need not be overly concerned about the impact on corporate performance if the pace of policy rate increases is not too rapid.Minutes of the Bank of Japans January meeting: One member stated that while the downward pressure on consumption from rising interest rates is cause for concern, its impact on the overall financial system is likely to be limited.March 25 (Futures News) – According to foreign media reports, Chicago Board of Trade (CBOT) corn futures closed slightly higher on Tuesday, with the benchmark contract rising 0.7%. Investment funds are still grappling with the uncertainty surrounding the potential war between the US and Israel against Iran. International crude oil futures rose again on Tuesday, triggering speculative buying in the corn market and pushing up corn prices. Grain and oilseed prices have recently largely followed crude oil price movements, reflecting two factors: firstly, corn and soybean oil are used in biofuel production; and secondly, investors view these crops as a hedge against inflation. The Middle East conflict has disrupted shipping in the Gulf region, causing natural gas prices to surge and impacting the fertilizer market. Furthermore, export restrictions imposed by non-Gulf region fertilizer suppliers, including Russia, could further exacerbate short-term supply shortages. Russia has suspended ammonium nitrate exports until April 21 to ensure domestic supply. Russia controls approximately 40% of the global ammonium nitrate supply.On March 25th, Goldman Sachs stated in a report that disruptions to nitrogen fertilizer supplies in the Strait of Hormuz could lead to a decline in global grain production, altering planting decisions and potentially pushing up grain prices. The report noted that fertilizer shortages could result in delayed or insufficient nitrogen fertilizer application, causing a drop in grain yields and prompting farmers to switch to crops like soybeans, which require less fertilizer. According to data from the U.S. Fertilizer Association, in some years, U.S. farmers import as much as 50% of their fertilizer. With supplies still about 25% below normal levels, spring planting could face challenges. Goldman Sachs stated that since the conflict began, nitrogen fertilizer prices, which account for about 20% of grain production costs, have risen by 40%. Supply disruptions could lead to fertilizer shortages in other regions and drive up production costs. While U.S. farmers are currently relatively unaffected due to advance pre-planting season purchases, supply disruptions in Europe, Australia, and the Southern Hemisphere could boost demand for U.S. grain exports and push up U.S. grain prices.

Forecast for the price of gold: XAU/USD eases below the $1,804 barrier as Fed hawks back off due to weaker US inflation

Alina Haynes

Aug 11, 2022 11:58

 截屏2022-08-10 上午11.45.08_1024x576.png

 

US inflation-driven gains in the price of gold (XAU/USD) are fading as the metal declines to $1,790 on Thursday during the opening Tokyo session. The recent decline in the price of precious metals may be related to conflicting worries about the US Federal Reserve's (Fed) upcoming actions as well as Sino-American friction.

 

On Wednesday, the US Consumer Price Index (CPI) fell to 8.5% YoY in July, below the 8.7% consensus and the 9.1% reading from June. According to Reuters, US President Joe Biden stated on Wednesday that there are some indications that inflation may be decreasing after the US released its inflation data. In the coming months, there may be more challenges for us to overcome, Biden continued. US President Biden continues, "We still have work to do, but we're on track."

 

Following the CPI report on Wednesday, traders of futures linked to the Fed's benchmark interest rate reduced their bets on a third consecutive 75-basis-point raise at its policy meeting on September 20-21 and now see a half-point increase as the most likely scenario, according to Reuters.

 

Neel Kashkari, president of the Minneapolis Fed, recently stated that the Fed is "far, far away from declaring success" on inflation. Additionally, the decision-maker stated that he hasn't "seen anything that changes" the need for the Fed to raise its policy rate to 3.9% by year's end and to 4.4% by the end of 2023. Charles Evans, president of the Chicago Fed, said in another place that a recession would likely require unfavorable circumstances to occur. Also labeling inflation "unacceptably" high, Fed's Evans

 

Additionally, according to sources cited by Reuters, US President Biden is reconsidering his China tariff policy in light of Taiwan's response, which put the XAU/USD bulls on the defensive.

 

S&P 500 Futures print modest gains near 4,220 by press time against this backdrop after Wall Street rose and US Treasury yields were largely unchanged the day prior.

 

Moving on, the monthly Producer Price Index (PPI) for July and the weekly US Jobless Claims numbers may amuse gold traders. However, in light of recent risk-negative headlines, special focus should be placed on the qualitative variables.

Suggestion