EUR/USD 1.02435
-0.540%
Gold 2695.48
0.938%
Oil 75.466
2.375%
USD/JPY 157.663
-0.288%
GBP/USD 1.22230
-0.679%
GBP/JPY 192.713
-0.956%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On January 11, Edmond Seifried, an economist at the Graduate School of the Southwestern Bank Foundation, said that since mid-September, U.S. Treasury yields have been moving higher in one direction, but the sell-off in government bonds has been a bit excessive. He believes that the credibility of the Federal Reserve remains high, especially after the Federal Reserve has actively curbed inflation in the past few years. Seifried believes that this background should help control the cycle of rising prices and rising Treasury yields. He pointed out that yields in the 2010s have been lower than in previous decades, and he believes that this shift is partly due to the Feds introduction of an explicit inflation target of 2% in 2012. He believes that the Feds continued commitment to this goal will help stabilize inflation expectations without significantly raising the benchmark interest rate.The total number of oil rigs in the United States for the week ending January 10 will be released in ten minutes.The total number of oil rigs in the United States for the week ending January 10 will be released in ten minutes.1. Wells Fargo: The Fed is increasingly unlikely to cut rates in March. 2. Citigroup: The Fed is expected to make its next rate cut in May, compared with January. 3. JPMorgan Chase: Given the latest (strong) non-farm payrolls data, the Fed is expected to make its next rate cut in June, compared with March. 4. Bank of America: The rate cut cycle may be over; the basic assumption is that the Fed will keep rates unchanged for a long time, but the risk of the next move is inclined to a rate hike. 5. Goldman Sachs: Reduced the Feds rate cut this year from 75 basis points to 50 basis points; the Fed is expected to cut by 25 basis points in June and December respectively. 6. Morgan Stanley: The non-farm report should reduce the likelihood of a near-term Fed rate cut; due to a more favorable inflation outlook, a rate cut in March is still likely.According to AFP: Brazil gave Meta Platforms (META.O) 72 hours to explain its new fact-checking policy.

Forecast for Gold Price: XAU/USD falls sideways below $1,630 as DXY loses momentum and yields approach 4.24 percent

Daniel Rogers

Oct 21, 2022 15:05

 截屏2022-07-29 上午11.06.12.png

 

In the Tokyo session, the gold price (XAU/USD) is oscillating within a small range of $1,625.00-1,628.55. Gold awaits price action from the US dollar index (DXY). The DXY is battling to maintain its position above the immediate resistance level of 113.00. As S&P500 futures have retreated from about 3,645.00, the asset was unable to maintain above the 113.00 barrier.

 

Well, returns on U.S. government bonds are soaring like there is no tomorrow and do not perceive any barrier. Since the subprime crisis, 10-year US Treasury rates have increased to 4.24 percent for the first time. Federal Reserve (Fed) policymakers' hawkish remarks have a positive impact on rates.

 

Thursday, Fed Governor Lisa Cook erroneously stated that inflationary pressures are too high and that additional rate hikes are necessary to combat them. She said that additional rate hikes are forthcoming and that the restrictive approach will be maintained.

 

According to the CME FedWatch tool, the probability of a fourth consecutive 75 basis point (bps) rate increase remains over 93%.

 

After testing the $1,642.58–$1,670 range's highest auction area on an hourly scale, the gold price has experienced a precipitous drop. The precious gold is falling toward its two-year low of $1,614.85, which will occur on September 8, 2022. The decline of the 20-period and 50-period Exponential Moving Averages (EMAs) at $1,629.86 and $1,634.46 strengthens the negative filters.

 

In the meantime, the Relative Strength Index (RSI) (14) is bouncing between 40.00 and 60.00, and a change into the negative 20.00 to 40.00 area will spark downward momentum.


Suggestion