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On February 14, Wang Yi, member of the Political Bureau of the CPC Central Committee and Foreign Minister, attended the Munich Security Conference and delivered a speech and answered questions at the "China Session." When asked about Chinas role in resolving regional conflicts, particularly the Ukraine issue, Wang Yi stated that Chinas position is clear: all regional hotspots should seek political solutions through dialogue and consultation, and the same applies to the Ukraine issue. However, China is not a party to the conflict, and the decision-making power is not in Chinas hands. What we can do is to promote peace talks. We have dispatched special envoys to mediate and, through various channels, emphasized to all parties that a ceasefire should be implemented as soon as possible, and that everyone should return to the negotiating table.On February 14, 2026, Wang Yi, member of the Political Bureau of the CPC Central Committee and Foreign Minister, attended the Munich Security Conference, delivered a speech at the "China Session," and answered questions from the audience. Wang Yi emphasized that the erroneous remarks by Japanese leaders on the Taiwan issue exposed Japans undying ambition to invade and colonize Taiwan and the lingering specter of reviving militarism. Japan launched its invasion of China and attacked Pearl Harbor under the pretext of a so-called "crisis and existential crisis." The lessons of history are still fresh and must be heeded. If Japan does not repent, it will inevitably repeat the same mistakes. Good people should be vigilant. First and foremost, the Japanese people must be reminded not to be blinded and coerced by far-right forces and extremist ideologies again. All peace-loving countries should also warn Japan: if it chooses to go back to its old ways, it will only lead to its own destruction.Joint statement from the UK, Switzerland, France, Germany, and the Netherlands: We and our partners will use all policy tools at our disposal to continue to hold Russia accountable.Joint statement from the UK, Switzerland, France, Germany, and the Netherlands: We further express our concern that Russia has not destroyed all of its chemical weapons.The United Kingdom, Sweden, France, Germany, and the Netherlands issued a joint statement regarding the death of Alexei Navalny.

Gold Price Prediction: XAU/USD swings sideways around $1,630 as investors anticipate Fed Chair Powell's address

Daniel Rogers

Sep 28, 2022 14:44

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The gold price (XAU/USD) is demonstrating a lackluster performance as investors remain on the sidelines in anticipation of Federal Reserve (Fed) chair Jerome Powell's address. The precious gold is fluctuating at $1,630.00 after a slight dip from the crucial $1,640.00 barrier. As a result of the exhaustion of the asset's downward momentum, the asset's volatility has decreased, and further erratic price swings are anticipated.

 

Wednesday, the yellow metal will dance to the sounds of Fed Powell's speech. Given the current state of affairs, Fed Chairman Powell will adopt a "hawkish" tone and recommend further policy tightening. Focus will be placed on the rate hike schedule for the remainder of 2022, as the chosen strategy will set the stage for the 2023 rate hike cycle.

 

In the meantime, the US dollar index (DXY) hopes to surpass 115.00 for the first time in twenty years. The DXY bulls have been bolstered by a less-than-anticipated decrease in US Durable Goods Orders and a rise in Consumer Confidence. The reduction in demand for Durable Goods was 0.2% as opposed to the expected dip of 0.4%. Consumer Confidence rose to 108.0 from 103.6 in the most recent report.

 

On a daily scale, gold prices have produced an Inverted Hammer candlestick pattern. For the aforementioned candlestick, there are two schools of thought: the traditional feels that the formation is a sign of reversal, while the unconventional deems it bearish because sellers emerged as the prices settled. Additionally, buyers did not hold holdings overnight.

 

For the counter, the horizontal resistance from the September 16 low of $1,654.17 will operate as a formidable obstacle.

 

At $1,653.85, the decreasing 10-period Exponential Moving Average (EMA) adds to the downside filters. As the Relative Strength Index (RSI) (14) oscillates in oversold area below 30.00, a decline cannot be ruled out.


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