EUR/USD 1.18258
0.606%
Gold 4988.24
1.060%
Oil 61.059
2.474%
USD/JPY 155.783
-1.664%
GBP/USD 1.36409
1.029%
GBP/JPY 212.511
-0.635%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Starlink: For users affected by winter storm Fern, the team has enabled emergency text messaging for more T-Mobile users via our direct cellular satellite connections.January 25th - The Fourth Session of the 16th Beijing Municipal Peoples Congress opened on January 25th. Beijing Mayor Yin Yong delivered the government work report. By 2025, Beijings GDP will reach 5.2 trillion yuan, a growth of 5.4%, 0.4 percentage points higher than the national average. General public budget revenue will increase by 4.8%, the urban surveyed unemployment rate will be 4.1%, and per capita disposable income will increase by 4.4% in real terms. Consumer prices will remain generally stable. Several indicators, including per capita GDP, total labor productivity, and energy consumption, water consumption, and carbon emissions per 10,000 yuan of GDP, will remain among the best in the country for provincial-level regions.On January 25th, according to CNN, federal law enforcement officers in Minneapolis, Minnesota, shot and killed another man during an immigration enforcement operation. Video footage shows a federal officer disarming the man before a Border Patrol officer shot him. The deceased has been identified as 37-year-old Alex Pretty, believed to be an intensive care unit nurse. Police stated he was suspected of having a legal gun license. The Department of Homeland Security claims the officer acted in self-defense—a claim Minnesota Governor Tim Walz dismissed as nonsense and a lie. During the Trump administrations massive crackdown on immigration, the Department of Homeland Securitys statements have been repeatedly contradicted by on-site video footage and challenged in court. Despite the cold weather, anti-ICE protesters continued their march in Minneapolis today.On January 25th, when asked about the recent sell-off of Japanese government bonds and the depreciation of the yen, Japanese Prime Minister Sanae Takaichi said on a Fuji TV program, "I will not comment on specific market fluctuations." She added, "The government will take necessary measures against speculative or abnormal market behavior," but did not elaborate further. Previously, the sharp fluctuations in the yens exchange rate had fueled traders expectations of possible government intervention. The recent sell-off of Japanese government bonds and the yen has raised concerns that Takaichis expansionary fiscal policy and the Bank of Japans slow pace of interest rate hikes could lead to increased government debt and excessive inflation. After the yen fell below the important psychological level of 160 against the dollar, the Federal Reserve Bank of New York suddenly conducted a currency check on Friday. Some traders believed this increased the possibility of joint US-Japan intervention to stop the yens continued depreciation, after which the yen rebounded rapidly.Japanese Prime Minister Sanae Takaichi: The government will take necessary measures to deal with speculative and abnormal market fluctuations.

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