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June 29th news, according to the Japan Meteorological Agency on June 29th, at about 16:12 local time, a 5.1-magnitude earthquake occurred near the coast of the Tokara Islands in Kagoshima Prefecture, Japan, with a maximum tremor of 4. The focal depth was 30 kilometers.June 29, according to The Sun, Russian President Vladimir Putin launched a major attack on much of Ukraine, with Ukrainian Air Force Communications Chief Yuri Inat calling the nighttime attack the largest airstrike in three years of conflict. The report said that the Russian army simultaneously attacked several cities with cruise missiles, hypersonic missiles and Iranian-designed "Witness" (Shahed) attack drones. In addition, the Russian army also launched four "Dagger" and seven "Iskander-M/KN-23" ballistic missiles at Ukraine, and dispatched Tu-95 strategic bombers and MiG fighters. One of the worst-hit cities was Kremenchuk, the report said, with the airstrike setting the city on fire and dozens of explosions lighting up the night sky.June 29, Ukrainian officials said on Sunday that Russia launched the largest air strike against Ukraine since the beginning of the conflict at night, according to the Associated Press. The escalating bombing campaign further shattered hopes for peace to end the three-year conflict. The Ukrainian Air Force said that the Russian army launched a total of 537 air strike weapons at Ukraine, including 477 drones (including decoy drones) and 60 missiles. Among them, 249 drones/missiles were shot down by the Ukrainian army, and another 226/missiles crashed due to failure of electronic interference. Ukrainian Air Force spokesman Yuri Ignat said that considering the number of drones and various missiles, this night attack was "the largest air strike operation." The targets of the attack covered many areas throughout Ukraine, including the western region far away from the front line. The Polish Air Force said on Sunday that Poland and its allies had urgently dispatched fighter jets to ensure the safety of Polish airspace.Ukraine said Russia launched 477 drones and 60 missiles at Ukraine overnight.Ukrainian military: An F-16 fighter jet crashed in Ukraine and the pilot was killed.

Gold Price Prediction: XAU/USD surges above $2,010 as Fed policymakers anticipate a rapid decline in US Inflation

Daniel Rogers

Apr 12, 2023 13:41

截屏2023-04-06 下午4.26.46_1024x576.png

 

In the Asian session, the price of gold (XAU / USD) made a swift advance above the critical resistance of $2,010.00. The price of gold has risen above $2,013, as the US Dollar Index continues to weaken. (DXY). The USD Index has fallen to approximately 102.05 and is anticipated to accelerate its decline. Federal Reserve (Fed) policymakers anticipate a rapid deceleration in U.S. inflation, which has a negative influence on the USD Index.

 

Patrick Harker, president of the Federal Reserve Bank of Philadelphia, stated, "I am monitoring the data to determine if additional action on inflation is necessary." In addition, the president of the Minneapolis Fed Bank, Neel Kashkari, anticipates that inflation will be in the middle 3 percent by the end of this year and will be closer to 2 percent the following year.

 

Austan Goolsbee, president of the Chicago Fed, advocated a cautious approach in light of the fact that the confluence of constrained credit conditions and further restrictive monetary policy can impact sectors and regions differently than if monetary policy acted alone.

 

As the last inflation data before the Federal Reserve's scheduled interest rate decision in the first week of May, the US inflation data released on Wednesday will be closely monitored.

 

In addition, the Fed minutes will be scrutinized as they will provide a detailed explanation of the 25 basis point (bps) rate hike in March.

 

The demand for US government bonds appears to be subdued prior to the release of US inflation data. The yield on 10-year US Treasury bonds fluctuates around 3.43 percent.


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