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The Russian Ministry of Finance reported that revenue from oil and gas sales in the Russian state budget was 617 billion rubles in March, compared to 432.3 billion rubles in February.Government officials: Greek prime minister will reshuffle cabinet amid EU agricultural fraud scandal investigation.On April 3, ING economist Diederik Stadig stated in a report that the US imposition of a 100% tariff on pharmaceuticals is likely to have a limited impact on the industry. He predicts that the tariff will apply to branded drugs for which no exemption agreement has yet been reached, primarily affecting economies such as Singapore and India. However, these countries do not export such products to the US on a large scale. The tariff should be seen as a signal of intensified competition between the US and its rivals in the biotechnology and pharmaceutical industries.1. Scotiabank: +4.3%; Societe Generale: +4.3%; ABN AMRO: +4.4%; ANZ: +4.4%; Barclays: +4.4%; 2. BNP Paribas: +4.4%; Berenberg: +4.4%; IBSM: +4.4%; Citigroup: +4.4%; Hlebahn: +4.4%; 3. Commerzbank: +4.4%; Goldman Sachs: +4.4%; ING: +4.4%; JPMorgan Chase: +4.4%; Lloyds Banking Group: +4.4%; 4. Mizuho Bank: +4.4%; Moodys Analytics: +4.4%; Nomura Securities: +4.4%; Pansen Macro: +4.4%; Morgan Stanley: +4.4%; 5. RBC Capital Markets: +4.4%; Sumitomo Mitsui: +4.4%; TD Securities: +4.4%; UBS: +4.4%; Santander: +4.4%; 6. UniCredit: +4.4%; Westpac: +4.4%; Steifel: +4.4%; Bank of America: +4.5%; Deutsche Bank: +4.5%; 7. Capital Economics: +4.5%; Daiwa Capital: +4.5%; DekaBank: +4.5%; HSBC: +4.5%; Danske Bank: +4.5%; 8. Standard Chartered: +4.5%; Wells Fargo: +4.5%; Jefferies: +4.5%; Sparta Securities: +4.5%; [Reuters forecast: +4.4%]. April 3rd - According to preliminary statistics from the China Passenger Car Association (CPCA), from March 1st to 31st, the national retail sales of new energy passenger vehicles reached 784,000 units, a 21% decrease compared to March last year, but a 69% increase compared to the previous month. The cumulative retail sales this year totaled 1,844,000 units, a 24% decrease year-on-year. From March 1st to 31st, the national wholesale sales of new energy passenger vehicles reached 1,126,000 units, a 0% increase compared to March last year, but a 56% increase compared to the previous month. The cumulative wholesale sales this year totaled 2,716,000 units, a 5% decrease year-on-year.

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.