EUR/USD 1.15709
-0.060%
Gold 4210.65
-0.003%
Oil 82.881
-2.644%
USD/JPY 160.200
0.149%
GBP/USD 1.34105
-0.037%
GBP/JPY 214.841
0.121%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On June 13, Iranian Foreign Ministry spokesman Bagaei said that the specific timing for signing a memorandum of understanding between Iran and the United States still needs to be awaited, and there are no plans for an overseas visit in the next day or two.Domestic News: 1. Six departments jointly issued the "Guidelines for the Classification and Grading of Financial Information Service Data". 2. Eleven departments, including the Ministry of Transport, jointly issued a document to promote the large-scale application of new energy heavy trucks. 3. Yu Xiaoping, former vice president of the Peoples Insurance Company of China, is under investigation. 4. The China Motorcycle Chamber of Commerce advocates consciously abandoning unethical business practices such as malicious low-price dumping and disorderly bidding for orders. 5. A spokesperson for the Ministry of Commerce answered reporters questions regarding the US Department of Defenses inclusion of some Chinese companies in the "List of Chinese Military Enterprises". International News: 1. "Sister Wood" sold AMD stock and bought $440 million worth of SpaceX stock. 2. Trump: US military killed Ninho Guerrero, leader of the "Aragua Trains" organization. 3. ECB Governing Council member Nagel: Even if the conflict ends, prices may remain high for a long time. 4. US capital is vying for Venezuelan oil fields, planning to create the first Venezuelan oil company listed on Nasdaq. 5. The US bans foreign entities from accessing Fable 5 and Mythos 5; Anthropic issued a lengthy rebuttal. 6. Middle East Situation—① Irans late Supreme Leader Khamenei will be buried on July 9. ② Lebanese sources: A new round of Lebanon-Israel talks will be held on July 22. ③ Pakistani Prime Minister: A US-Iran agreement is expected to be finalized within 24 hours, with electronic signing to take place immediately afterward. Technical negotiations are planned to begin next week. ④ Trump retweeted a tweet from the Pakistani Prime Minister regarding the possibility of signing a US-Iran peace agreement within 24 hours. ⑤ Iranian Foreign Ministry: A potential US-Iran memorandum of understanding is not a final agreement and will not be signed tomorrow, but completion within the next few days is not ruled out. ⑥ Media reports that an Iranian delegation will visit Pakistan on July 14. The Iranian Foreign Ministry denies this: There are no plans to visit Pakistan or Geneva in the coming days.On June 13, Iranian Foreign Ministry spokesman Baghae said that any potential understanding between Iran and the United States is merely to promote continued dialogue, not a final agreement; unfreezing Iranian assets will be an indispensable part of any Iran-US understanding. According to the Iranian Students News Agency, Baghae said during a meeting with media representatives that Irans current focus is on ending fighting on all fronts and regional tensions, and that it will not delve into the details of the nuclear issue at this stage. He said the only way to achieve regional security is to end the presence of foreign military forces in the region. Baghae emphasized that the unfreezing of Iranian assets is an important component of the understanding and will not be excluded. Current discussions also include addressing US hostile actions against Iranian vessels and issues related to the Strait of Hormuz. Baghae said that Iran will proceed with the utmost caution in advancing negotiations and the diplomatic process, while remaining vigilant based on past experience. If the other side refuses to fulfill its obligations, Iran can take countermeasures.A senior U.S. government official said: "We believe a trade agreement between the U.S. and India is possible, but we do not expect it to be finalized during the G7 meeting."A senior U.S. government official said a trade agreement with India is expected to be discussed at the G7 summit.

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