EUR/USD 1.16383
0.129%
Gold 4406.43
1.174%
Oil 92.510
0.330%
USD/JPY 153.316
-0.431%
GBP/USD 1.35602
0.150%
GBP/JPY 207.904
-0.289%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
UN Special Envoy: We condemn the Houthi attacks on Saudi civilian and infrastructure, economic and energy facilities.A memo from the lead underwriters indicates that Amazons (AMZN.O) first-ever sterling bond issuance is now open for subscription.On September 9th, according to the Iranian News Agency (IRNA), the US Treasury Department issued a notice on the 8th, adding 27 Iranian airlines and several other companies to its "Specially Designated Nationals List" for sanctions. In response, the Iranian Airlines Association issued a statement protesting the continued sanctions against Irans civil aviation industry. The statement emphasized that civil aviation, by its very nature, is not primarily a political or economic issue, but rather a vital component of peoples infrastructure and one of the most important tools connecting people from different countries. The Iranian Airlines Association pointed out that millions of Iranian and foreign travelers rely on the countrys air transport network for travel, medical care, education, business, family reunions, and international communication. Attacks on airlines and the aviation supply chain are not merely pressure on individual economic entities, but could directly impact peoples lives, the accessibility of air transport, service continuity, and flight safety requirements.Ukrainian President Zelensky: The international community needs to respond and not allow Russia to think it can carry out missile and drone terrorist attacks with no consequences as winter approaches.Ukrainian President Zelensky: This morning, an apartment building in Kyiv was attacked by a Russian drone, injuring four people.

Ahead of preliminary US S&P PMI data, the XAU/USD remains sideways below $2,000, according to our Gold Price Forecast

Alina Haynes

Apr 20, 2023 13:49

 截屏2022-08-04 下午5.25.46_1024x576.png

 

In the early European session, the Gold price (XAU / USD) is exhibiting erratic movements near $1,994.00. The precious metal is in a state of indecision as investors await the release of preliminary S&P PMI data for the United States on Friday.

 

After violent swings influenced by the Federal Reserve's (Fed) Beige Book, the US Dollar Index (DXY) is showing signs of volatility contraction below 102.00. The declining trend of advances to consumer and business loans by U.S. commercial banks has intensified concerns of a recession in the U.S. economy, despite the fact that economic activity in 12 Fed districts remained virtually unchanged. To prevent a decline in asset quality, banks have tightened credit disbursement requirements.

 

In the meantime, S&P futures have recorded sizeable losses during the Asian session, as investors are wary of firms' comments regarding revenue guidance. The market anticipates that constrained credit conditions will impact the working capital management of cash-reliant companies, thereby affecting their output.

 

The market expects preliminary US S&P PMI data to reveal a Manufacturing PMI reading of 49.0, a decrease from the previous reading of 49.9. The Services PMI is anticipated to decrease to 51.5 from 52.6 previously reported.


Suggestion