EUR/USD 1.15073
-0.006%
Gold 4052.02
-0.081%
Oil 78.617
-0.171%
USD/JPY 157.389
0.144%
GBP/USD 1.34284
-0.028%
GBP/JPY 211.353
0.124%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Market news: Amazon (AMZN.O) founder Jeff Bezos sold $4.07 billion worth of stock.Conflict Situation 1. Israel – ① The Israeli parliament approved an extension of the emergency mobilization order for the armed forces. 2. Iran – ① Revolutionary Guard: An MQ-9 drone was intercepted and shot down by the Revolutionary Guards Aerospace Forces advanced air defense system over the Strait of Hormuz. ② Military advisor to Irans Supreme Leader: We possess missiles and have the capability for self-defense. Even if the United States sends warships into the Strait of Hormuz through unauthorized routes, we will strike them. US-Iran Negotiations 1. Iran – ① Iranian Foreign Ministry spokesman Bagae: (Regarding negotiations with the US) There are no plans to receive a (US) delegation or send an Iranian delegation "in recent days". 2. United States – ① Trump: The duplicitousness of the Iranian leadership is unbelievable. They requested a meeting, negotiations have begun, and more talks are scheduled for the coming days, proceeding in two phases. ③ US officials: There are currently no plans to hold new Iran negotiations. 3. Others – ① Sources: US and Iranian negotiators have no plans to meet in Islamabad for at least the next 24 hours. The date and location for the resumption of direct negotiations have not yet been finalized. ② Swiss Foreign Ministry: Switzerland is in contact with all relevant countries and is prepared to provide necessary assistance if both sides are willing. ③ Report: There is cautious optimism regarding the prospects for a breakthrough in the US-Iran negotiations; the mediators need some time to reach an agreement on the upcoming ceasefire declaration. ④ Sources: The Pakistani Interior Minister plans to visit Iran in the next day or two. Strait of Hormuz 1. United States—① US military: Continues maritime blockade of Iran, has changed the routes of 44 merchant ships. ② Trump: The conflict with Iran is progressing very well; the Strait of Hormuz is controlled by the US Navy. Nothing can enter Iran without US approval; Iran will not be allowed to collect passage fees in the Strait of Hormuz; the Strait of Hormuz may reopen no later than tomorrow. 2. Iran—① Iranian Foreign Ministry: Currently not in dialogue with the US; dialogue with Oman is focused on the Straits agreement. ② Iran: Has discussed opening new shipping routes in the Strait of Hormuz with Oman. ③ Senior Iranian official: Will not allow the US to open non-Iranian shipping routes in the Strait of Hormuz. ④ Iranian sources: Tehran rejected the latest US proposal, insisting that the Strait of Hormuz will not be fully reopened before the end of the war. Other developments: 1. Irans Economy Minister: An economic resilience plan of at least two years has been formulated. 2. Tanker activity surges at Saudi Yanbu port, Red Sea oil routes regain activity. 3. Gaza Peace Committee: Israeli forces will withdraw beyond the "Yellow Line" after Hamas completes its disarmament. 4. Israel states it will not withdraw from its existing positions in the Gaza Strip and will continue to thwart any threats to its citizens and soldiers. 5. Former Iranian Foreign Minister Javad Zarif warned that if Iran fails to reach a final agreement with the United States within the proposed 60-day negotiation period, it may face further economic difficulties, domestic unrest, or a new round of military strikes.Market news: Japanese IT services provider NTT Data is considering investing approximately $9 billion in Japans data center sector.August 4th - According to Nikkei, the Japanese governments proposal to reduce the food consumption tax to 1% starting next April for a period of two years was approved by the ruling partys main committee on Monday, taking a step closer to fulfilling its campaign promise, although the source of funding remains uncertain. Itsunori Onodera, chairman of the Tax System Committee, stated that the Liberal Democratic Partys Tax System and Social Security Committee has passed the draft. It is expected to be submitted to the partys highest decision-making body for deliberation as early as Wednesday. Prime Minister Sanae Takaichis government hopes to obtain cabinet approval at the beginning of the month and submit the relevant bill to the extraordinary session of the Diet in the autumn. The proposal aims to lower the tax rate from 8% to 1% starting in April. Starting in June, approximately 600 billion yen (about US$3.82 billion) in cash subsidies will be distributed annually to low- and middle-income families, with the amount fluctuating according to income levels. Takaichi has not yet specified the specific source of funding to fill the consumption tax revenue gap. The government plans to utilize non-tax revenue, tax revenue growth, and funds saved from reviewing tax incentives and subsidy policies.According to Nikkei: Japans ruling party is close to lowering the food tax rate from 8% to 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