EUR/USD 1.17432
-0.054%
Gold 3337.47
-0.919%
Oil 64.788
-1.722%
USD/JPY 147.615
0.411%
GBP/USD 1.34375
-0.545%
GBP/JPY 198.360
-0.105%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
July 26th news, on the afternoon of the 26th, the reporter asked the Laotian military for confirmation. The Laotian side said that there was no exchange of fire between the Laotian and Cambodian armies, and the Lao side did not arrest the Cambodian armed personnel who illegally crossed the border. In addition, a source from the Lao Peoples Army said that the "Lao Peoples Army and Cambodian armed personnel exchanged fire" was false news. The authoritative Lao military media "Peoples Army Newspaper" said that it had not received any relevant notification. Cambodian Ministry of Defense spokesperson Mary Su Jieda also said on the same day that the relevant news was unfounded and the incident had never happened. Earlier that day, Thailands Thai Rath reported that the Laotian military issued an emergency notice on the 26th, saying that the Laotian army had a fierce exchange of fire with several Cambodian armed personnel who illegally crossed the border, arrested 10 people and seized weapons.Indian Trade Minister: India is making rapid progress in free trade agreement negotiations between the EU and the US.July 26, local time on the 25th, the California Public Utilities Commission confirmed that Tesla has not yet applied for the necessary licenses to operate self-driving cars. This decision essentially halted Teslas self-driving taxi service, which was launched on a large scale in the Bay Area of California as early as this weekend. The California Public Utilities Commission stated that Tesla has not yet received approval from the agency to provide self-driving passenger services to customers, regardless of whether they are paid or not and whether there is a human driver in the car. This means that Tesla cannot test or operate self-driving passenger services in California, and the existing license only supports the traditional taxi model.According to RIA Novosti: Russian troops occupied the village of Malyivka in the Dnipropetrovsk region of Ukraine.Hungarian Prime Minister Orban: We will not support the EU budget unless we get the suspended funds.

Forecast for Gold Price: XAU/USD consolidates above $2,000 as investors await initial US S&P PMI data

Daniel Rogers

Apr 21, 2023 13:52

 272.png

 

During the Asian session, the price of gold (XAU / USD) is oscillating above the psychological resistance of $2,000.00. After a gradual increase, the price of gold has leveled off near $2,005.00 as investors await the release of preliminary S&P PMI data for the United States.

 

S&P500 futures have added some gains during the Asian session following three consecutive declines. As a result of Elon Musk's price-cutting frenzy, Tesla's revenue projections were gloomy, which dampened market sentiment. Near 101.77, the US Dollar Index (DXY) has extended its correction. The USD Index has been consolidating in a range between 100.90 and 102.03 for the past several trading sessions. Therefore, a move that exceeds the previously specified limit will be considered decisive.

 

The subdued USD index weighs on US Treasury yields as well. The demand for U.S. government bonds has increased as weekly unemployment claims have increased. The number of individuals claiming unemployment benefits rose to 245K, exceeding the consensus estimate of 240K. This indicated a softening in the labor market and bolstered expectations that the Federal Reserve (Fed) will not raise interest rates after the monetary policy meeting in May.

 

In the future, the publication of the preliminary US S&P PMI data will determine the impact of the Fed's rate hikes on the scope of economic activity. According to projections, the Manufacturing PMI and Services PMI will decline to 49.0 and 51.5, respectively. A preliminary PMI reading that is weaker than anticipated could impact heavily on the U.S. dollar.

Suggestion