EUR/USD 1.14529
0.183%
Gold 4176.45
1.280%
Oil 69.023
0.884%
USD/JPY 161.025
-0.049%
GBP/USD 1.33757
0.224%
GBP/JPY 215.385
0.188%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
The China Earthquake Networks Center officially determined that a magnitude 3.0 earthquake occurred at 12:44 on July 3 in Haixi Prefecture, Qinghai Province (37.86 degrees north latitude, 95.40 degrees east longitude), with a focal depth of 10 kilometers.On July 3rd, UBS released a research report stating that it recently invited Innovent Biologics (01801.HK) to participate in its virtual healthcare roadshow. Following strong product sales in the first quarter, management stated that sales momentum remained solid in the second quarter, viewing it as the new normal rather than a new shock, primarily supported by high unmet demand in its innovative product portfolio. Regarding GLP-1 drugs, management did not feel pressured by tightening online channels, noting that the recent 618 e-commerce event showed healthy demand across the category. UBS has included Pfizers licensing revenue and abexilic acid sales in its forecasts. However, considering the R&D commitments of the collaborative assets, it increased its R&D expense forecasts for 2026-2028, resulting in a downward revision of its 2026-2028 EPS forecasts from RMB 1.13, RMB 2.91, and RMB 4.41 to RMB 1.12, RMB 2.41, and RMB 3.42, respectively. UBS slightly raised its target price for Innovent Biologics from HKD 124 to HKD 124.1, reiterating its buy rating.July 3 - According to the Japan Meteorological Agency, a 6.4-magnitude earthquake struck off the northwest coast of Miyako Island, Japan, at approximately 1:05 p.m. local time. The earthquake was felt at a seismic intensity of 3 and had a very shallow depth.GFZ (German Center for Geosciences): A 6.02-magnitude earthquake struck southwestern Ryukyu Islands, Japan.July 3 - According to the latest statistics from the European Automobile Manufacturers Association (EAMA), Chinese passenger car manufacturers surpassed Japanese manufacturers in market share in Europe for the first time in May. Data shows that in May, five Chinese automakers sold 138,400 vehicles in 31 European countries, a year-on-year increase of 65%; while six Japanese automakers sold 130,400 vehicles in the same 31 countries, a year-on-year decrease of 3%.

Forecast for the price of gold: XAU/USD fluctuates over $1,760 as investors await the US NFP

Daniel Rogers

Aug 04, 2022 11:36

截屏2022-08-03 下午3.31.13_1024x576.png 

 

In the early Asian session, the price of gold (XAU/USD) is exhibiting topsy-turvy movements above the nearby support level of $1,760.00. Prior to that, the precious metal showed a responsive purchasing action after Wednesday's low of $1,756.00. The shiny gold has risen to just shy of $1,764.00 after holding onto its two-day low. In the near future, the FX domain will lay the groundwork for the publication of the US Nonfarm Payrolls (NFP), which will influence the asset's future course.

 

There is no doubting that the Federal Reserve (Fedrising )'s interest rates have compelled corporate participants to apply additional filters to their analysis of investment prospects. Before spending large sums of money on projects, businesses conduct a lot of thinking. This has increased the likelihood that the process of creating jobs would suffer substantial harm.

 

In addition, comments from major IT companies suggesting stopping the hiring process for the remainder of the year may cause a sharp decline in job chances. In contrast to June's report of 372k, investors predict 250k job increases in the labor market in July. A vulnerable individual from this group might considerably raise gold prices.

 

On a four-hour time frame, the bottom part of the Rising Channel, which is plotted from the low of July 21 at $1,681.87, and the higher part, which is shown from the high of July 22 at $1,739.37, will see large bids for gold prices.

 

The 200-period Exponential Moving Average (EMA) at $1,764.11 overlaps with the gold prices, signaling a make-or-break situation for gold bulls. The 50-EMA at $1,752.16 is rising, which suggests further potential.

Suggestion