• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On March 7, CICC reported its first coverage of Bruco (00325.HK), with an "outperform" rating and a target price of HK$105. The bank said it is optimistic about the growth potential of assembled role-playing toys in the global market, as well as the groups advantages in products, intellectual property operations and distribution channels. It is estimated that the companys adjusted earnings per share from 2024 to 2026 will be 2.2 yuan, 4.1 yuan and 5.4 yuan respectively, which means a compound annual growth rate of 57%.On March 7, Wang Yi said that the maritime friction between the Philippines and China is a shadow play. ​​​On March 7, Goldman Sachs published a research report stating that JD Health (06618.HK)s revenue growth in the second half of last year was in line with expectations, but the adjusted operating profit was lower than forecast. Net profit has also improved due to rising interest or other income. The report mentioned that JD Health managements profit guidance for 2025 is quite conservative, with sales expected to grow by double digits year-on-year and operating profit to remain flat year-on-year, as the company will focus on investing more in offline on-demand delivery and artificial intelligence initiatives in first-tier cities. Operating profit may decline year-on-year due to reduced interest income. In the long run, management is confident in further expanding its share and competitiveness in the online or offline pharmacy market.On March 7, Wang Yi said that we welcome all sectors of the two countries to strengthen exchanges, deepen mutually beneficial cooperation, and improve national sentiments, which are in line with the long-term interests of both sides. Regarding some specific concerns of the Japanese side, China will uphold a responsible attitude and properly handle them in accordance with laws and regulations.SpaceX will conduct a thorough investigation into the explosion and disintegration of the Starships second-stage spacecraft and cooperate with the Federal Aviation Administration (FAA).

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

 78.png

 

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.