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Ukrainian negotiators believe progress has been made in reaching an agreement with Russia, which caused European defense stocks to fall, with Rheinmetall shares down 6.6% and Leonardo shares down 5.5%.April 10th - Kremlin: Special Envoy Dmitrievs visit to the US is not a resumption of peace talks in Ukraine. Dmitriev did not negotiate on the Ukraine issue; Russia wants peace, not a ceasefire. Peace can be achieved today if Ukrainian President Zelensky makes a decision. The Orthodox Easter ceasefire has humanitarian significance.According to Hong Kong Stock Exchange documents, Suzhou Tianfu Optical Communication Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange.The Q1 earnings season for US stocks is upon us. Next week, pay close attention to the earnings reports from Goldman Sachs (GS.N), Bank of America (BAC.N), Citigroup (CN), and TSMC (TSM.N). Economic data to watch includes Chinas March trade balance and March industrial output growth (year-on-year); and the US March PPI year-on-year rate. Additionally, the State Council Information Office will hold a press conference next week on the national economic situation; several Federal Reserve officials will also speak. Please stay tuned. For a complete earnings calendar, please check the calendar section of the US-Hong Kong Telecom APP. Click to view...On April 10, Ukrainian negotiator Budanov stated that he has seen progress toward a potential peace agreement with the Kremlin, adding that resolving the war may not take too long. He expressed his belief that Russia also wants to end the war. "They both understand that the war needs to end. Thats why they are negotiating," Budanov said in an interview on April 4. "I dont think it will be long." Budanov, who served as head of Ukrainian military intelligence from 2020 to January of this year, is known for planning and sometimes personally leading raids against Russian forces. In January, President Zelensky appointed him as chief of staff of the presidential office. He is a key figure in the Ukrainian negotiating team in the trilateral talks aimed at ending the conflict. He also oversees prisoner exchanges with Russia. Although he has moved to an administrative role, Budanov retains the rank of lieutenant general, which gives him a unique perspective on the political and military challenges facing Ukraine. He acknowledged that both sides have maintained a "maximum demands" stance in the US-mediated negotiations so far, but expressed his belief that they will move closer together in seeking compromise.

Gold Price Prediction: XAU/USD measures support around $1850 as DXY demonstrates weariness; US Inflation anticipated

Daniel Rogers

Jun 10, 2022 14:31

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After a slight retracement from $1,850.37, the gold price (XAU/USD) is seeking a firmer base at $1,845.00. After falling to around $1,840.00, the precious metal exhibited a receptive purchasing response. A responsive buying move often occurs when market participants perceive the item to be a value wager.

 

On a global scale, the precious metal is trading sluggishly; nevertheless, the announcement of US inflation data will spark explosive movement in the counter. Investors are concerned that the US Consumer Price Index (CPI) is not showing any impact despite the Federal Reserve's quantitative tightening initiatives (Fed).

 

The annual US CPI is expected to remain unchanged at 8.3 percent, according to market opinion. In the past three months, the Fed has increased interest rates by 0.75 percent and implemented a rapid balance sheet reduction program. One may argue that the pricing pressures are so intense that significant quantitative tightening measures are required for a substantial price decline to occur.

 

The US dollar index (DXY) has exhibited symptoms of fatigue after failing to exceed Thursday's high of 103.37. A higher-than-anticipated inflation rate will bolster the DXY bulls and set them up for a more rapid ascent.

Technical Analysis of Gold

On a four-hour time period, gold prices are exhibiting a protracted consolidation. The precious gold is fluctuating between $1,828.55 and $1,871.16 per ounce. At $1,849.70, the Exponential Moving Average (EMA) of 21 periods intersects with gold prices. In addition, the Relative Strength Index (RSI) (14) oscillates between 40.00 and 60.00, indicating that the asset is seeking a catalyst for a dramatic rise.

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