EUR/USD 1.16198
0.193%
Gold 4465.94
0.712%
Oil 92.758
-1.473%
USD/JPY 159.876
-0.126%
GBP/USD 1.34355
0.141%
GBP/JPY 214.806
0.017%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
French prosecutors say the Russian captain of the oil tanker with ties to Moscow has been released.June 4th - According to Saudi Arabias Al Arabiya television, citing sources, the agreement to unfreeze Iranian funds has entered its final stage, with the main obstacle being the mechanism for handling some of the frozen funds. A proposal to establish a special fund to hold frozen Iranian assets is under discussion. Furthermore, Trump informed the mediators that he opposes releasing funds to Iran before a formal agreement is signed. The mechanism of the special fund could allow for the gradual release of funds under international supervision, potentially bridging the gap between US concerns about Irans immediate access to cash and Irans demands for tangible economic benefits. Giuseppe Dellamotta, an analyst at the US financial website InvestingLive, stated that the dispute over frozen assets has been a recurring theme throughout the negotiations. Reports in recent weeks indicate that Iranian negotiators have been pressuring for the unfreezing of billions of dollars held overseas (particularly in Qatar), viewing this issue as a key test of Washingtons willingness to provide substantial sanctions relief. Despite significant differences remaining, the latest reports suggest that negotiators are increasingly focusing on technical implementation issues rather than fundamental political disagreements. Diplomats believe that if the issue of the asset freeze mechanism can be resolved, the two sides may be able to reach a formal agreement, which would provide limited economic assistance to Iran while maintaining the United States leverage in future negotiations on more sensitive issues.Eurozone retail sales fell 0.4% month-on-month in April, the largest drop since October 2024.Eurozone retail sales fell 0.4% month-on-month in April, compared with a forecast of -0.3% and a revised previous reading of 0.8% (from -0.10%).Eurozone retail sales rose 1% year-on-year in April, below the expected 0.3% and the previous figure revised from 1.20% to 2.1%.

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