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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 to fall below $1,660 as DXY strengthens and US Inflation is eyed

Daniel Rogers

Oct 11, 2022 14:28

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In early Asia, the gold price (XAU/USD) is exhibiting erratic movements below $1,670.00. The precious metal is anticipated to exhibit extreme volatility if it breaches the support level of $1,660.00 as the risk-off profile intensifies in response to Russia's military attacks on Ukraine. After breaking the Crimean bridge in Russia that serves as a supply route for Russian forces in southern Ukraine, Russia has escalated its missile attacks against Kiev.

 

In the meantime, the US dollar index (DXY) has strengthened in response to the gloomy market sentiment and established itself solidly above the round-level barrier of 113.00. Monday was a holiday in the United States, but S&P500 futures remained extremely volatile due to unfavorable market sentiment.

 

This week, the mega-event of US inflation data will provide clear direction for the future. Gasoline price declines have resulted in a reduced consensus for the US inflation rate. The economic statistics is estimated to be 8.1% lower. While core inflation, which excludes oil and food costs, is estimated to be 6.5% higher.

 

According to the CME Fedwatch tool, there is a greater than 78% chance that the Federal Reserve (Fed) will announce a fourth consecutive rate hike of 75 basis points (bps).

 

On an hourly basis, gold prices have fallen below the 50% Fibonacci retracement at $1,672.61 and are approaching the 61.8% Fibonacci retracement at $1,658.90. Around $1,690.00, the 50-period and 200-period Exponential Moving Averages (EMAs) have formed a death cross, which strengthens the downward filters.

 

In addition, the Relative Strength Index (RSI) (14) has moved into the negative zone between 20.00 and 40.00, indicating further weakness ahead.