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On April 21, CNN reported that on April 20 local time, US President Trump stated in a phone interview that Iran "will negotiate" and expressed confidence in the potential talks to be held in Pakistan. Trump said, "They will negotiate, and if they dont, there will be unprecedented problems." He also expressed hope that the two sides could reach a "fair agreement" and emphasized that Iran "will not have nuclear weapons." He also defended military action against Iran, saying there was "no other choice," and that the "finishing touches" would eventually be completed.April 21 – Statistics New Zealand data shows that New Zealands first-quarter CPI rose 3.1% year-on-year, the same as the increase in the fourth quarter of last year, while economists had previously expected 2.9%. The CPI rose 0.9% month-on-month, higher than the expected 0.8%. New Zealands first-quarter inflation rate unexpectedly remained above the 1% to 3% target range before rising fuel and other costs due to the Iran war were expected to push the CPI up. The Reserve Bank of New Zealand initially estimates that the inflation rate will accelerate to 4.2% in the second quarter, while local economists expect the inflation rate to be even higher and remain above the target range until 2027. Faced with the risk that inflation could become deeply entrenched in the economy, the market widely expects the Reserve Bank of New Zealand to raise interest rates sooner than previously anticipated, with investors expecting the first rate hike as early as July.1. The three major U.S. stock indexes closed slightly lower. The Dow Jones Industrial Average fell 0.01% to 49,442.56 points, the S&P 500 fell 0.24% to 7,109.14 points, and the Nasdaq Composite fell 0.26% to 24,404.39 points. 3M fell more than 2%, and Procter & Gamble fell more than 1%, leading the decline in the Dow. The Wind U.S. Tech Big Seven Index fell 0.6%, with Facebook and Tesla falling more than 2%. The Nasdaq China Golden Dragon Index fell 0.32%, Zai Lab rose more than 4%, and Hesai Technology fell nearly 6%. 2. The three major European stock indexes all closed lower. The German DAX fell 1.15% to 24,417.8 points, the French CAC40 fell 1.12% to 8,331.05 points, and the UK FTSE 100 fell 0.55% to 10,609.08 points. 3. International precious metals futures generally closed lower. COMEX gold futures fell 0.79% to $4,841.00 per ounce, and COMEX silver futures fell 2.41% to $79.87 per ounce. 4. The WTI crude oil futures contract closed up 4.0% at $85.89 per barrel; the Brent crude oil futures contract rose 3.78% to $93.8 per barrel.April 21 - According to NBC News on April 20, the United States is expected to deploy three carrier strike groups simultaneously in the Middle East in the coming days. The report states that the USS Abraham Lincoln carrier strike group is currently deployed in the Gulf of Oman, near the Strait of Hormuz, participating in maritime blockade operations; the USS Ford carrier strike group is located in the northern Red Sea; and the USS George H.W. Bush carrier strike group, which has chosen to detour around Africa, is heading north from southeast Africa and is expected to enter the Arabian Sea—this carrier may replace the USS Ford in its mission, but in the short term, the US military may have three carrier strike groups deployed simultaneously in the Middle East.On April 21, the Ministry of State Security issued a security alert. Recently, a hidden industry chain involving AI "poisoning" has been exposed, drawing widespread public attention. This behavior of maliciously contaminating AI models not only disrupts business order and affects information dissemination, but also endangers national security. While artificial intelligence empowers various industries, its security risks cannot be ignored. Promoting ethical AI governance and safeguarding data security are not only industry responsibilities but also require the participation of the entire society.

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

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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.