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On January 11, Mitsubishi Motors President Takao Kato was interviewed on January 10. Regarding whether to join the management merger consultation between Honda and Nissan, he said "this is one of the options." Speaking of the envisioned benefits, Kato Takao said "We can actively get help in the North American business (where Mitsubishi Motors has no production base)." Kato Takao also pointed out that in terms of in-vehicle software development, "there will also be scenarios where the technical strength of the two companies will be utilized, which will be very beneficial." Honda and Nissan announced the full launch of management merger consultations in December last year. Mitsubishi Motors previously stated that it will decide whether to join the consultations around the end of January.On January 11, CICC commented on the US non-farm data. The team believes that the highlight of this time is the recovery of the service industry. The service industry has added 231,000 jobs, which has become the main driving force. Judging from the market reaction, the unexpected non-farm data has pushed the US Treasury bond interest rate and the US dollar to a new high, which is also in line with its judgment since the fourth quarter of last year: it believes that the US dollar is still strong and that interest rate cuts should be "done in reverse". When the interest rate cut is realized, it will be the low point of the US Treasury bond interest rate, rather than continuing to look at the recession and the starting point of the downward interest rate.German Geoscience Research Center GFZ: A 5.5-magnitude earthquake occurred in Ethiopia.On January 11, according to AFP, US President Biden condemned Metas plan to terminate its third-party fact-checking on the 10th, calling the decision "shameful." Biden told reporters at the White House, "This goes against everything America is about." It is reported that after Meta terminates its third-party fact-checking plan, it will switch to a user-written community annotation model. The plan will be implemented first in the United States, replacing the fact-checking service previously conducted by independent third parties.The Dow Jones Industrial Average closed at 41,938.45 on January 10 (Friday), down 696.75 points, or 1.63%. The S&P 500 closed at 5,827.04 on January 10 (Friday), down 91.21 points, or 1.54%. The Nasdaq Composite closed at 19,161.63 on January 10 (Friday), down 317.25 points, or 1.63%.

Gold Prices Fall as Yields Increase

Larissa Barlow

Apr 20, 2022 10:05

Gold prices held steady on Tuesday as the dollar strengthened, putting downward pressure on the yellow metal. The dollar strengthened as the yield differential remained in favor of the dollar. Riskier assets increased in value, removing some of the safe-haven bid from gold prices.

 

The Commerce Department said Tuesday that housing starts grew unexpectedly by 0.3 percent last month to a rate of 1.793 million units on an annual basis. February data has been revised upward to 1.788 million units from 1.769 million units previously reported. Housing starts were expected to decline to 1.745 million units. Permits for future home construction increased by 0.4 percent last month to 1.873 million units.

Technical Evaluation

Tuesday's gold prices plummeted. Prices appear to be clinging to support near the 10-day moving average of 1,953. Near the April highs of 1,999, resistance is present.

 

Momentum has shifted negative in the short term as the Fast Stochastic generated a crossover sell signal. Prices are excessively high. The fast stochastic slid from above the overbought trigger level of 80, indicating that negative momentum is intensifying.

 

The medium-term momentum is positive, as the MACD histogram recently issued a crossing buy signal. The MACD histogram's trajectory is decelerating, indicating consolidation.

 

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