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U.S. companies issued $1.7 trillion in investment-grade bonds this year, a figure close to a record high. This wave of bond issuance is primarily aimed at raising funds for AI infrastructure development, but it has also raised concerns about excessive debt.December 23rd, Futures.com analysts latest view: Spot gold prices have surged, repeatedly hitting new highs, demonstrating a strong bullish trend in the short term. The price action follows the support trendline of this trend, while remaining above the 50-day EMA, providing positive dynamic resistance and further indicating the strength of the bullish momentum.December 23rd, Futures.com analysts latest view: WTI crude oil futures have been trading in a range recently, currently in a profit-taking phase after the previous strong rally. Prices are attempting to digest the clearly overbought condition on the Relative Strength Index (RSI), especially in the presence of negative signals, which has pushed WTI crude oil futures into a temporary sideways consolidation.The European Automobile Manufacturers Association (EADA) reported that Toyotas new car registrations in the EU fell 9.2% in November, while Stellaris (STLA.N) registrations rose 0.3%.December 23rd, Futures.com analysts latest view: Spot silver prices surged after overbought conditions on the Relative Strength Index (RSI) were released, especially after positive confluence signals, opening up room for further gains in the short term. In the short term, the primary bullish trend dominates, with prices moving along the secondary support trendline. Furthermore, spot silver continues to be supported by positive pressure as prices remain above the 50-day EMA, further solidifying the likelihood of continued upward movement in the near future.

Gold Price Forecast: XAU/USD views $1,800 as upbeat US labor market fuels hawkish Fed wagers

Alina Haynes

Mar 09, 2023 13:55

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Gold price (XAU / USD) appears vulnerable above $1,810.00 as the upside appears constrained by rising Federal Reserve rate expectations (Fed). The precious metal is anticipated to resume its decline as strong United States Employment data reported by Automatic Data Processing (ADP) has confirmed that January's strong consumer spending and higher payrolls were not a one-time blow to the Consumer Price Index's decline (CPI).

 

S&P500 futures have given up the slight gains they made on Wednesday during the Asian session. As China's CPI and Producer Price Index (PPI) figures indicate deflation, the risk-aversion theme has intensified. The US Dollar Index (DXY) has maintained a sideways trend above 105.20 as investors await the publication of US Nonfarm Payrolls (NFP) data for fresh direction signals. The alpha provided by 10-year US Treasury bonds has risen above 3.98 percent.

 

The official US Employment data is expected to indicate a decline in the payrolls to 203K from the former release of 514k. A figure of 203K is not as terrible as January's 514K figure, but it appears insignificant in comparison. Investors should be aware that a figure of 514K in the last seven months was exceptional.

 

Aside from that, it is anticipated that the unemployment rate will remain at a multi-decade low of 3.4%. The Average Hourly Earnings are expected to ascend to 4.8% on an annual basis. Household income may increase consumer expenditure. Jerome Powell, the chairman of the Federal Reserve, has already confirmed that the Fed will increase interest rates in order to reduce inflation.


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