EUR/USD 1.18630
-0.092%
Gold 5007.18
-0.504%
Oil 62.491
-0.166%
USD/JPY 153.362
0.399%
GBP/USD 1.36531
-0.019%
GBP/JPY 209.391
0.381%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Bank of Japan Governor Kazuo Ueda: Japanese Prime Minister Sanae Takaichi did not make any specific policy requests.Bank of Japan Governor Kazuo Ueda: I cannot comment on the specific details of my meeting with Japanese Prime Minister Sanae Takaichi.Bank of Japan Governor Kazuo Ueda: I have had a routine information exchange with Japanese Prime Minister Sanae Takaichi.February 16th - According to the BBC, the British Prime Minister is considering a significant increase in defense spending. Downing Street is reportedly considering achieving its current spending targets ahead of schedule, a move that could cost billions of pounds. Prime Minister Starmer expressed his stance at the Munich Security Conference, stating, "To address the broader threats, it is clear we need to invest more money, and at an accelerated pace." Last year, the Prime Minister pledged to increase core defense spending to 2.5% of GDP by April 2027. However, he also proposed an "ambitious" plan to increase this spending to 3% of GDP by the end of the next parliamentary term. The BBC understands that the Prime Ministers staff are studying options to achieve the 3% defense spending target before the end of the current parliamentary term, which may extend to 2029.February 16th - According to foreign media reports, Hungarian Foreign Minister Péter Szijjártó stated that Hungary and Slovakia have requested Croatia to allow Russian oil transported by sea to transit through their territory until Ukraine resumes transit through the "Friendship" oil pipeline for "political reasons." Szijjártó stated that Hungary and Slovakia have been granted exemptions from the European embargo on Russian oil. The exemption stipulates "the possibility of obtaining Russian oil by sea when pipeline transport is impossible." Previously, Ukrainian authorities claimed that an oil pipeline was damaged at the end of January and that oil transit operations had not yet resumed. However, Szijjártó pointed out that Kyivs actions were based on fabricated political motives, as there is no technical basis for such a request.

Gold Price Prediction: XAU/USD struggles above $2,000 as additional Fed rate increases appear inevitable

Daniel Rogers

Apr 17, 2023 13:44

259.png 

 

During the Asian session, the gold price (XAU / USD) appears vulnerable above the psychological resistance of $2,000.00. Following a four-day low of $1,992.50, the precious metal has exhibited a recovery trend. However, the recovery appears precarious as bullish wagers on the US Dollar Index (DXY) limit the upside.

 

As the probability of a consecutive 25 basis point (bp) rate hike from the Federal Reserve (Fed) is exceedingly high, the USD Index seeks to extend its recovery above the immediate resistance of 101.75. According to the CME Fedwatch instrument, the likelihood of a rate rise is nearly 80%.

 

In the meantime, S&P500 futures posted significant gains early on Monday, following a moderate decline on Friday. Quarterly earnings season is anticipated to keep US equities stock-specific. As a result of the precipitous drop in petroleum prices in March, manufacturing and oil-dependent businesses could experience a reasonable earnings rebound.

 

The demand for U.S. government bonds has decreased considerably in response to rising wagers on additional Fed policy restrictions. President of the Federal Reserve Bank of Atlanta Raphael Bostic stated that with one more quarter-point increase in interest rates, the Fed can conclude its tightening cycle with some assurance that inflation will gradually revert to its 2% objective.


Suggestion