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Hang Seng Index futures closed up 1.25% at 19,841 points in the night session, 257 points higher than the previous session.Congressional Budget Office (CBO): The cost of clean energy subsidies in the inflation-proof bill is now expected to be $825 billion between 2025 and 2035, compared with an estimated cost of $270 billion between 2022 and 2031.The Federal Reserve accepted a total of $118.327 billion from 32 counterparties in fixed-rate reverse repurchase operations.The Federal Aviation Administration (FAA) said it was working with SpaceX and relevant authorities to confirm reports of damage to public property in the Turks and Caicos Islands.Futures traders are adjusting their bets in the Treasury market after mild inflation data and dovish comments from a Federal Reserve official. Over the past two days, the volume of open interest has changed, consistent with traders exiting short positions in two-year Treasury bonds and establishing new long positions in longer-term Treasury contracts, especially in the five-year Treasury. The shift came after consumer price inflation data released on Wednesday and comments made by Federal Reserve Governor Christopher Waller the next day. Data released on Wednesday showed that core price increases in December were lower than economists expected; Waller said that if the trend continues, officials may cut interest rates again in the middle of the year. Morgan Stanleys interest rate strategists suggested late Thursday that long positions could be established in Treasury bonds of this term given expectations that the Federal Reserve will cut interest rates in March, but this is still a minority view. The swap market expects only a 6 basis point rate cut in March, which means there is about a 25% chance of a 25 basis point cut. “We haven’t ruled out a rate cut in March, but we do see it as more of a tail risk,” said Stephanie LaRosiliere, head of fixed income strategy at Invesco. “It doesn’t feel like the Fed needs to react so hastily.”

Forecast for Gold Price: XAU/USD bulls want 50% mean reversion

Alina Haynes

Feb 08, 2023 12:01

截屏2022-06-07 下午5.15.32.png 

 

The Gold price ended the day mostly stable against a mixed US Dollar, which was pushed and pulled by Jerome Powell's remarks at The Economic Club of Washington, D.C.'s Signature Evening.

 

While he repeated much of what he said in the press conference that followed last week's interest rate decision, the markets reacted quickly to his most dovish statements, which were largely surrounded by hawkish language, and the US Dollar plummeted.

 

As the markets processed the comments, gold gained only to fall back under pressure, fluctuating between $1,865 and $1,884 at its highest point. As of this moment, the Gold price in Asia has reached a session high of $1,878.46.