EUR/USD 1.14859
0.096%
Gold 4376.53
0.805%
Oil 95.469
-1.085%
USD/JPY 156.726
0.486%
GBP/USD 1.33935
0.269%
GBP/JPY 209.919
0.759%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On September 21, Fox News reported that when White House National Economic Council Director Hassett was asked in an interview on Sunday about the specific timeline for Trumps earlier promise of a "reverse rocket drop" in oil prices, he did not provide a timeline, only stating that the US government had taken measures to ensure that the impact on energy prices was "far less than expected." Hassett stated that after the escalation of the conflict between Iran and the Houthis, the US has ensured the transport of oil through the Strait of Hormuz through naval escorts, with "billions of barrels of oil already passing through the strait" to minimize the impact of supply disruptions on oil prices. He indicated that initially, the market expected oil prices to rise to $150 or $200 per barrel, but this did not occur. Hassett also stated that "President Trump will decide when it ends," and that if the US did not take action, it could have serious consequences for "the global economy and human civilization."On September 21, Ukrainian President Volodymyr Zelenskyy stated that he spoke with US President Donald Trump that day, and the two agreed to meet in New York. Zelenskyy said that this meeting "could bring about important changes," and that the diplomatic process is currently underway.On September 21, the Wall Street Journal reported that the Trump administration is preparing broader sanctions against the International Criminal Court (ICC) to expand its previous pressure campaign against the institution. According to documents, the new measures could prohibit most transactions with the ICC after a six- to seven-month grace period and may restrict its use of the US dollar, thus affecting its participation in the global financial system. The report, citing officials, stated that the final decision and announcement date are yet to be determined, but could be announced as early as this week during the UN General Assembly or in the following days. A State Department spokesperson did not disclose specific sanctions but stated that Secretary of State Marco Rubio believes the ICC poses a threat to US sovereignty. Previously, the US has sanctioned several ICC officials, including former Chief Prosecutor Karim Khan, ICC President Tomoko Akane, and several judges and prosecutors. The proposed measures would expand from targeting individuals to targeting transactions with the court as a whole. The deterioration in US relations with the ICC is linked to the courts 2024 arrest warrants for Israeli Prime Minister Benjamin Netanyahu and former Israeli Defense Minister Yoav Galant.On September 21, U.S. President Donald Trump will meet with New York City Mayor Nancy Mamdani at Gracie Mansion, the official residence of the New York City mayor, on Monday. Mamdanis office stated that the talks will focus on issues affecting New York City and its residents, but did not release a specific agenda or meeting arrangements. White House officials confirmed the meeting plans but did not provide further details. This will be Mamdanis third face-to-face meeting with Trump since being elected mayor.According to the Wall Street Journal, the Trump administration is preparing to impose sanctions on the International Criminal Court.

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