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On January 12th, ING Bank currency analyst Francesco Pesole stated in a report that the Swiss franc has become the most popular safe-haven currency among major currencies amid concerns about the Federal Reserves independence. Pesole pointed out that the Swiss franc became the best-performing G10 currency on Monday after news broke that Fed Chairman Powell was facing a criminal investigation over the Feds headquarters renovation project. Powell stated that this was merely an excuse for President Trump to force the Fed to cut interest rates. Pesole also indicated that the euro and Swedish krona could potentially benefit from these concerns about the Feds independence.On January 12, Zhipu (02513.HK) issued an announcement stating that, following recent reports that the Group has established a strategic partnership with a travel platform, and after making reasonable inquiries regarding the Company in the relevant circumstances, the Company confirms that the partnership is conducted in the ordinary and usual course of the Groups business. The Company is not aware of any information that needs to be disclosed to avoid a false market in the Companys securities, or any inside information that needs to be disclosed under Rule 13.09(2) of the Listing Rules and Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).Federal Housing Finance Agency Director Pulte: Fannie Mae and Freddie Mac are valued between $500 billion and $1 trillion.Federal Housing Finance Agency Director Pulte: Fannie Mae and Freddie Macs initial public offerings are still under discussion.Federal Housing Finance Agency Director Pulte: I will meet with homebuilders this week.

Gold Price Prediction: XAU/USD expects demand to exceed $1,810 amidst a risk-recovery

Alina Haynes

Dec 30, 2022 11:26

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After a corrective dip to about $1,810.00 in the Asian session, the gold price (XAU/USD) has gained demand. The precious gold retraced after touching the $1,820.00 resistance level, but it is anticipated to resume its ascent as the risk aversion theme has diminished.

 

A strong rebound in the S&P 500 on Thursday, following a two-day decline, erased the market's risk-averse disposition. As value-buying arose, investors jumped in to provide support for United States shares. Meanwhile, a drop in the desirability of safe-haven assets led to a decline in the US Dollar Index. The USD Index fell close to 103.50, which has been a crucial support level this week. A substantial improvement in market mood reversed the four-day decline in US Treasury bonds.

 

After a surge in the number of weekly jobless claims, the U.S. dollar experienced intense pressure. The number of first-time claimants increased to 225K for the week ending December 23. This exemplified a slowing in the employment process among businesses brought on by rising interest rates.

 

Early Thursday morning in Asia, Reuters released a White House statement stating that President Joe Biden had signed a $1.66 trillion package to fund the United States government for fiscal year 2023. Reuters also reported that Congress passed the law last week and that Biden recently signed it while on vacation on the Caribbean island of St. Croix. New economic stimulus in the United States could contribute to a future decline in the US Dollar Index.

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