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On July 6, analysts believe that it is not easy to create a third party that can challenge the "two-party system" in the United States. It may take years to resolve legal and economic difficulties. A senior election lawyer said that the qualifications of new political parties that want to run for election are different in different states in the United States. Take California as an example. If a new party wants to appear on the states ballot, it must absorb and maintain at least 0.33% of the states voters as members of the party, or collect signatures from 1.1 million voters. In order to obtain national recognition, the new party also needs to be recognized by the Federal Election Commission, which will almost certainly be strongly opposed by the Democratic and Republican parties. In addition to time and legal issues, the preparation of campaign funds is also a major problem. Lee Goodman, former chairman of the Federal Election Commission, said that Musk may need thousands of donors to jointly fund his party. In fact, in addition to the two major parties, the Democratic Party and the Republican Party, the United States also has political parties including the Green Party and the Libertarian Party, but the latter two cannot shake the status of the two major parties at all.July 6, according to a report by Russias Lenta.net on July 6, the United States will provide Ukraine with hundreds of thousands of drones under special conditions this year. Ukrainian President Zelensky revealed on the "Telegram" social platform that the United States is expected to provide more drones starting in 2026. Zelensky said: "Regarding drones, Ukraine has reached an agreement with the United States to significantly increase cooperation. This will enable Ukraine to obtain hundreds of thousands of drones under special conditions this year, and more drones next year." He said that Kievs main priority is to intercept drones, and Washington will also provide Ukraine with such drones.Market news: Dubais Roads and Transport Authority (RTA) signed a memorandum of understanding with Pony.ai to launch pilot testing of autonomous vehicles.July 6: Heavy rains in central Texas on July 4 caused severe floods, killing at least 51 people. Local officials said they had not received any warnings about the floods. Rick Spinrad, former head of the National Oceanic and Atmospheric Administration, said on July 5 that the U.S. weather forecasting and early warning capabilities have been severely affected by the U.S. governments budget cuts and layoffs. Spinrad also said that the latest budget of the U.S. Congress even plans to completely cancel the scientific research projects of the National Oceanic and Atmospheric Administration.Russian Defense: 120 Ukrainian drones were destroyed in Russian airspace and over the Sea of Azov at night.

Gold Price Prediction: XAU/USD stays range-bound over $1,800 despite a rebound in risk-on sentiment

Alina Haynes

Dec 29, 2022 11:42

 截屏2022-06-10 下午4.40.17_1024x576.png

 

In the Asian session, the gold price (XAU/USD) is fluctuating modestly above the psychological resistance of $1,800.00. Despite an early-trade pullback in the US Dollar Index (DXY), the precious metal is demonstrating a dismal performance. After reaching a four-day high of 104.56 on Wednesday, the US Dollar Index has plummeted to a level below 104.30.

 

In the meantime, S&P500 futures are providing optimism for a rebound following a two-day decline. In addition, risk-perceived currencies are regaining traction as investors shrug off concerns regarding an increase in Covid-19 cases in China. Following the rise of the US Dollar Index, rates on 10-year US Treasuries have decreased to about 3.86 percent.

 

During the holiday week, the economic calendar had nothing concrete to give; nonetheless, Wednesday's release of U.S. Pending Home Sales data revealed the effects of rising interest rates by the Federal Reserve (Fed). As a result of the Fed's decision to raise the interest rate to 4.5 percent, economic data for the month of November fell by 4 percent to the lowest level in 20 years.

 

On a two-hour period, the gold price is auctioning in a neutral channel, indicating a reduction in volatility due to the absence of significant economic events. After approaching the 100-period Exponential Moving Average (EMA) around $1,802.20, the precious metal has regained power. In addition, the 200-day exponential moving average (EMA) at $1,793.35 is trending higher, indicating that the upside bias remains strong.

 

In the meantime, the Relative Strength Index (RSI) (14) oscillates between 40.00 and 60.00, indicating that the Gold price is awaiting a new catalyst for a dramatic rise.