EUR/USD 1.09137
0.569%
Gold 3147.49
0.489%
Oil 69.732
-0.976%
USD/JPY 147.266
-1.350%
GBP/USD 1.30695
0.484%
GBP/JPY 192.472
-0.820%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Malaysias Ministry of Trade: Not considering retaliatory tariffs.Vishnu Varathan, head of macro research for Asia (excluding Japan) at Mizuho Securities, said on April 3 that U.S. reciprocal tariffs may continue to be a source of economic headwinds. These tariffs may also "inadvertently intensify and increase vulnerability to adverse demand shocks." Varathan said: "Asia has been particularly hard hit, especially in Cambodia, Vietnam, Thailand and Indonesia." In addition, South Korea, Japan, India and the European Union have not been spared, while the United Kingdom, Australia and Singapore have been the least affected. Varathan added that, therefore, the pressure on Asian currencies, except for Japan, may continue.On April 3, the Wall Street Journal reported that German automaker Volkswagen will impose an "import fee" on cars affected by US President Trumps 25% tariff. The report cited a memo sent to retailers saying that Volkswagen has temporarily stopped rail transportation from Mexico and will temporarily keep cars arriving by ship from Europe at the port. According to the agencys analysis of tariff codes contained in the Federal Register, Trumps 25% auto tariff will cover more than $460 billion worth of auto and auto parts imports each year. According to the report, Volkswagen told its dealers that it will provide more details on the pricing strategy for cars affected by tariffs by mid-April and plans to start distributing the cars to stores by the end of the month.European Commission President Ursula von der Leyen: The global economy is expected to suffer significant losses. Uncertainty will rise sharply and trigger new protectionism.European Commission President Ursula von der Leyen: Europe will stand on the side of those countries directly affected.

XAUUSD is expected to stay under pressure due to expectations of 75 basis points from the Fed, according to ANZ

Daniel Rogers

Jul 18, 2022 12:01

截屏2022-07-15 下午5.22.28_1024x576.png 


What main factors influence the price of gold? The yellow metal will be under pressure due to tighter monetary policy and an increase in the value of the US dollar. The demand for gold as a safe haven, however, may be supported by rising geopolitical risk and worries of a global recession, according to ANZ Bank experts.

 

"US inflation reached a 41-year high of 9.1% in June, but gold's role as an anti-inflation hedge was insufficient to allay worries about greater monetary tightening by central banks. Interest rates would increase to 2.25 percent by the end of July and 3 percent by the end of September if the Fed raises rates by 75 basis points over the course of the next two meetings. A trajectory this steep will be detrimental to gold price growth. This pessimism can be countered by the deteriorating economic prospects.

 

"The 2s/10s yield curve is now more inverted, which typically signals the beginning of a recession. Rising geopolitical uncertainties and a decline in asset prices may also be supportive. Additionally, the US dollar is probably going to weaken near the end of the year, which will help gold. We anticipate that the price of gold will bottom out around $1,700.


Suggestion