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January 12th, Futures News: Economies.com analysts latest view: Brent crude oil futures prices fell during the session, with the market exhibiting volatile trading as it digests the clearly overbought condition on the Relative Strength Index (RSI), especially given the negative signals from related indicators. Currently, prices are accumulating bullish momentum, which may help prices rise again. Meanwhile, Brent crude oil futures remain under dynamic support, with prices trading above the 50-day EMA, further enhancing the likelihood of a price rebound in the near future.January 12th - According to sources, Federal Housing Finance Agency Director Jerry Pulte was a key figure behind the Trump administrations decision to subpoena the Federal Reserve. Some sources indicated that some of Trumps allies were concerned about the move, fearing that the legal action against Fed Chairman Jerome Powell would disrupt the bond market. They also worried that it would prevent Powell from leaving the Fed after his term expires in May. Powell could continue serving as a Fed governor until 2028, but he has not indicated whether he will leave as is customary. Some sources said that some of Trumps senior aides were only informed of the subpoena on Friday night when Powell received it.On January 12th, Google announced on the 11th that it will partner with major retailers such as Walmart to expand the shopping functionality of its Gemini AI model, upgrading the Gemini app from a "smart assistant" to a "virtual merchant" capable of directly completing transactions. The Gemini app will introduce an "instant checkout" feature, allowing consumers to purchase goods from select merchants within the chat interface, without needing to open any external interface. Walmarts incoming president and CEO, John Furner, stated that the shift from traditional web or app search to "agent-driven commerce" represents the next major evolution in the retail industry. Industry insiders believe that the application of AI in e-commerce and its impact on consumer behavior will be a key focus of the conference. Google stated that the shopping functionality of the Gemini AI model will initially be available only to US users, but will expand to international markets in the coming months.On January 12, Clover Biotech (02197.HK) announced that its Pre-F trimeric subunit recombinant protein respiratory combination vaccine candidates SCB-1022 (RSV+hMPV) and SCB-1033 (RSV+hMPV+PIV3), developed based on the companys self-developed Trimer-Tag vaccine R&D platform, have completed the first batch of subject enrollment in Australia and officially started Phase 2 clinical trials.On January 12th, Citigroup pointed out that Indonesias fiscal deficit this year may far exceed the statutory limit, as the government increases spending on the nationwide free meal program and reconstruction projects in flood-stricken provinces of Sumatra. In a report on Monday, Citigroup economist Helmi Arman revised his 2026 budget deficit as a percentage of GDP upward to 3.5% from the initial 2.7%. Citigroups base case assumption is that the government will amend the National Fiscal Law by the second half of this year to relax the long-standing 3% fiscal deficit cap. Arman stated that if the authorities choose to significantly cut spending to maintain fiscal discipline, they may avoid exceeding the limit. He predicts that by 2029, Indonesias debt-to-GDP ratio will rise from approximately 39% in 2025 to 42%.

Gold Set For Fourth Week of Losses As Dollar Strengthens, Fed Rate Hike Bets

Aria Thomas

May 16, 2022 10:10

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Gold lost more than 1 percent on Friday and is poised for its fourth consecutive weekly decline, as the dollar's strong run and the prospect of more aggressive U.S. interest rates drained bullion demand.


At 1:54 p.m. EDT (1754 GMT), spot gold declined 0.7% to $1,808.89 per ounce, after hitting its lowest level since February 4 at $1,778.6 per ounce. This week, it has decreased roughly 4 percent.


U.S. gold futures finished at $1,808.20, down 0.9%.


Thursday, U.S. Federal Reserve Chair Jerome Powell stated that the struggle to contain inflation would "involve some pain" as a result of the impact of rising interest rates.


David Meger, director of metals trading at High Ridge Futures, stated, "Gold is being pulled down as a result of the Federal Reserve's commitment to hike interest rates at a rapid pace and the dollar's exceptional strength."


The market will pay close attention to inflation figures in the future.


The dollar index was poised for its sixth straight weekly increase, hovering close to a 20-year high. 


Although bullion is viewed as a hedge against inflation, it pays no interest and is subject to rising U.S. short-term interest rates and bond yields.


"A resurgence in global stock markets coupled with decreased risk aversion in the market to conclude the trading week is also negative for safe-haven metals," Kitco senior analyst Jim Wycoff wrote in a note.


Wall Street's major indexes were driven higher by growth stocks. [.N] [MKTS/GLOB]


The spot price of silver increased by 1.6% to $20.98 per ounce, but has declined by around 6% this week, the most since late January.


Platinum decreased by 0.8% to $936.51. Palladium rose 1.5% to $1,936.83 on Friday, after dropping almost 8% on Thursday.


Meger added, "Overwhelming concerns about supply disruptions in Russia take precedence on the palladium market, and there is aggressive purchasing on dips since prices have fallen considerably."

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