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February 15th - According to Iranian media reports on February 14th, Iranian Foreign Ministry spokesman Baghae stated in a media interview that the right to peaceful use of nuclear energy is Irans inherent and inalienable right, and no form of political pressure can undermine this right. Baghae stated that as a signatory to the Treaty on the Non-Proliferation of Nuclear Weapons, Iran enjoys the right to peaceful use of nuclear energy. Iranian President Peshichiyan recently stated that Iran does not seek nuclear weapons and is prepared to accept any form of inspection, but will not back down in the face of excessive demands and injustice. The United States has recently continued to pressure Iran, deploying multiple warships, including the aircraft carrier USS Lincoln, in the Middle East and threatening military intervention. A new round of US-Iran talks will be held on February 17th in Geneva, Switzerland, with Omani representatives coordinating the contacts between the two sides.February 15th - The Bank of England will be closely watching a series of data releases in the coming days. The bank made the difficult decision to keep interest rates unchanged due to concerns that inflation remains too high. British economic observers are facing a busy week: starting with labor market data and consumer price statistics, and ending with public finances and retail sales reports. Wednesdays inflation report will be the focus, especially as it is the last data release before the Bank of Englands next policy meeting in March, and there is significant internal disagreement on its interpretation. Meanwhile, Tuesdays employment report is also an important indicator. Evidence of a continued weakening labor market would be reassuring to officials, as it would suggest easing price pressures.Conflict Status: 1. Russian Ministry of Defense: Russian air defense systems destroyed 20 Ukrainian drones over multiple Russian locations overnight. 2. Zelensky: More than 6,000 Russian drones attacked Ukraine in January. No power plant in Ukraine escaped Russian attacks and damage. Peace Negotiations: 1. French Foreign Ministry Spokesperson: We are urging Russia to seriously participate in negotiations with Ukraine. The possibility of future contact with Russia is not ruled out. 2. Zelensky: We hope to hear some compromises from Russia. We hope the United States will continue to participate in the negotiations, and we also hope that Europe will participate more. 3. Zelensky: For Ukraine, setting a date for joining the European Union is crucial; otherwise, Russian President Putin will do everything in his power to prevent this process after the war. 4. Zelensky: The United States keeps demanding concessions from Ukraine; security guarantees should take precedence over a ceasefire agreement; a dignified end to the conflict is crucial for Ukraine. Other Status: 1. Zelensky: Give us a two-month ceasefire period, and we will hold elections. 2. Ukrainian Prime Minister: The International Monetary Fund has eased key conditions for new loans. 3. NATO Secretary General Rutte: Russias oil revenues have fallen by a third, rapidly depleting its sovereign wealth fund. 4. French Foreign Minister Barro: Some G7 members have expressed their willingness to move forward with a ban on maritime transport services for Russian oil. 5. US Secretary of State Rubio: I believe it is impossible for Russia to achieve its initial goals in the Russia-Ukraine conflict. Ending the Russia-Ukraine conflict is our inescapable responsibility, and we will not stand idly by.On February 15, Wang Yi, member of the Political Bureau of the CPC Central Committee and Foreign Minister, met with Norwegian Foreign Minister Ed on the sidelines of the Munich Security Conference on February 14. Wang Yi stated that China has always viewed China-Norway relations from a strategic and long-term perspective and is willing to maintain close exchanges at all levels, deepen cooperation in various fields, and safeguard the healthy and stable development of bilateral relations. Multilateralism was a consensus reached at the Munich Security Conference. However, multilateralism is not about acting unilaterally, and multipolarity is not dominated by a few major powers. All parties should abide by the purposes of the UN Charter and uphold the international rule of law. President Xi Jinping proposed an equal and orderly multipolar world; equality means that all countries, large and small, have the right to participate, and order means jointly abiding by international law. Both China and Norway support multilateralism and free trade and should further strengthen communication and cooperation. He hoped that Norway would play a constructive role in the stable development of China-EU relations.On February 15, Wang Yi, member of the Political Bureau of the CPC Central Committee and Foreign Minister, met with Canadian Foreign Minister Anand on the sidelines of the Munich Security Conference on February 14. Wang Yi stated that Prime Minister Carneys visit to China was fruitful, fully demonstrating that the new Canadian government is pursuing a new policy towards China, which is in the common interest of both countries and is the right choice. President Xi Jinping and Prime Minister Carney reached a consensus on building a new type of strategic partnership between China and Canada, providing strategic guidance for the positive development of bilateral relations. China is willing to work with Canada to implement the important consensus reached by the leaders of the two countries, eliminate interference, restart exchanges and cooperation in various fields, and promote the healthy, stable, and sustainable development of China-Canada relations. Anand stated that Prime Minister Carneys visit to China was very successful, ushering in a new era for Canada-China relations. He thanked China for granting visa-free access to Canadian citizens and hoped that both sides would strengthen dialogue and cooperation, enhance people-to-people exchanges, and promote the positive and stable development of Canada-China relations.

Gold Price Prediction: XAU/USD looks daily close for bear pennant confirmation; downward remains preferred

Daniel Rogers

Sep 22, 2022 14:49

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"The non-interest-bearing yellow metal appears vulnerable as Switzerland and the United Kingdom tighten monetary policy in the upcoming session. In the event that tensions between Russia and the West escalate, the dollar may experience more gains, as the flight to safety may continue in full force. In the foreseeable future, XAU/USD appears to be in a lose-lose situation."

 

"On Wednesday, the gold price temporarily violated the rising trendline support at $1,664, but avoided confirmation of a bear pennant by completing the day near $1,674. A daily closure below the support is required for the bearish continuation pattern to be confirmed. The psychological level of $1,650 will be the initial line of defense, below which buyers will seek a sustained advance into the subsequent support at about $1,642."

 

"On the other hand, any attempts at a comeback will require acceptance above the current range highs at $1,680." The next obstacle to the upward is positioned near $1,700. Daily closure above the latter is crucial for releasing the additional recovery towards the bearish 21-day moving average (DMA) at $1,704."