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On January 12, it was reported that U.S. Immigration and Customs Enforcement (ICE) officers shot and killed 37-year-old Ryan Goode during an immigration enforcement operation in Minneapolis on January 7, sparking days of protests across the United States. On January 11, protests entered their sixth day in Minneapolis, New York, Oakland, Atlanta, and other cities. Residents of Minneapolis stated that this forced immigration enforcement by the federal government was tantamount to "terrorism." Other protesters stated that the U.S. governments attacks on immigrants domestically and its imperialist aggression abroad should both be opposed.The onshore yuan closed at 6.9742 against the US dollar at 16:30 on January 12, up 79 points from the previous trading day.Iranian Foreign Ministry Spokesperson: Apart from Switzerland acting as an intermediary, communication channels between Iran and the US special envoy remain open.On January 12th, analysts at Metzler Asset Management noted in a report that domestic politics in Japan are once again putting pressure on the yen. Sources indicate that Prime Minister Sanae Takaichi is considering dissolving the House of Representatives, which could trigger a new general election in February. Analysts stated that although the Prime Ministers Liberal Democratic Party currently holds slightly less seats in the House than the absolute majority needed, polls suggest it may win more seats in the new election. "Market participants may worry that this will lead the government to take further measures to curb prices, thereby reducing the likelihood of a Bank of Japan interest rate hike, and thus putting downward pressure on the yen."British precious metal miners rose, with Hochschild Minerals up 5.9% and Fresnillo up about 5%.

Gold Price Prediction: XAU / USD investors approach a 50% mean reversion zone prior to NFP

Daniel Rogers

Mar 10, 2023 11:28

 截屏2022-06-07 下午5.14.47.png

 

After data showed that weekly US jobless claims increased more than anticipated, the price of gold rose on Friday as the dollar weakened. This caused the market to reconsider the Federal Reserve's next move.

 

At the time of writing, the US Dollar index, DXY, was down 0.13 percent, making the price of Gold less expensive for buyers using other currencies. Ahead of the crucial Nonfarm Payrolls report, the gold price is currently in the $1,830s.

 

In the meantime, "the number of Americans filing for unemployment benefits increased. "Initial claims increased to 211k in the week to 4 March, while continuing claims increased to 1,718k," ANZ Bank analysts explained.

 

"This most recent data suggests that the labor market may be beginning to cool, but this data is notoriously volatile, so the market will be on the lookout for additional evidence that labor demand is decreasing. The Challenger Job Cuts data, which shows 77,000 jobs were eliminated in February, is one indicator that US companies are beginning to reduce their workforce, analysts added.

 

"This is less than the January figure of 109,243, but it is 400% higher than the previous February, and it is the highest number of jobs lost in any February since 2009. The majority of layoffs are in the technology, retail, and financial sectors.


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