EUR/USD 1.13587
-0.267%
Gold 3304.73
-1.311%
Oil 62.946
0.567%
USD/JPY 143.646
0.705%
GBP/USD 1.33184
-0.168%
GBP/JPY 191.311
0.579%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On April 26, UBS said that the current market thinking is consistent with the banks basic forecast, that is, tariffs will be reduced from the current announced level for the rest of the year, and the Federal Reserve will further cut interest rates this year. However, as uncertainty in trade, economy and Federal Reserve policy remains high, expected volatility also remains high. However, UBS believes that the US stock market is attractive, and the S&P 500 index target continues to be 5,800 points by the end of the year. UBSs current basic forecast is that the Federal Reserve will cut interest rates by 75 to 100 basis points this year, but in the short term, the Feds policy flexibility seems more limited because it must balance concerns about economic growth with the risk of inflation recovery.According to AFP: Senior officials said that Ukrainian President Zelensky and US President Trump may meet in Rome.Spokesman for Ukrainian President Volodymyr Zelensky: Ukrainian President Volodymyr Zelensky has arrived in Rome to attend the Popes funeral.According to the Ukrainian National News Agency: Russian troops launched 414 attacks in the Zaporizhia region at night.Market news: Ukrainian President Zelensky and his wife arrived in Rome.

Gold Price Prediction: XAU/USD attempts to increase auction profile over $1,840 prior to Fed minutes

Daniel Rogers

Jan 03, 2023 15:06

 27.png

 

After surpassing the crucial resistance of $1,823.00 in the Asian session, the gold price (XAU/USD) has exhibited a robust upward trend. In response to a fall in the desirability of safe-haven assets, the precious metal seeks to raise its auction profile over the $1,840.00 barrier.

 

The momentum has moved to the risk appetite theme as a result of the S&P500 futures' abrupt comeback. In the meantime, the US Dollar Index (DXY) has attempted a rebound after falling close to 103.15, a key support level. Ahead of Wednesday's release of U.S. ISM Manufacturing PMI data, investors should anticipate volatility in the foreign exchange market (Dec). According to predictions, the economic data will decrease to 48.5, from 49.0 previously.

 

The explanation for the lower consensus for ISM PMI data could be the Federal Reserve's (Fed) higher interest rates, which have caused businesses to delay growth plans to avoid incurring greater interest commitments.

 

In addition to the Manufacturing PMI, the Federal Open Market Committee (FOMC) minutes will dominate the news. Investors will closely monitor economic estimates and monetary policy indicators for CY2023.


Suggestion