• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
The US military: It will not disclose the specific details of the strikes that have been or will be carried out on Yemen to "maintain operational security."ECB Governing Council member Knot: The central banks monetary policy meeting (decision) in June will be very complicated. Medium-term inflation risks actually include both upside risks and downside risks.On April 28, sources said that the ECB decision-makers are increasingly confident that they will cut interest rates in June in response to the continued decline in inflation, but they will not make a large cut. Last week, several ECB members attended the Spring Meetings of the International Monetary Fund (IMF) and the World Bank and talked about the possibility that the eurozone and global economy may deteriorate due to US tariffs. At the same time, the latest economic data released by the eurozone also reflects this phenomenon. As for inflation, there is no sign of deterioration due to tariffs. Sources said that more ECB members believe that it is a more appropriate decision to make the eighth consecutive interest rate cut of 0.25% at the interest rate meeting on June 4. The ECB will also release its latest economic forecasts on the same day. However, ECB officials remain open-minded and will make a final decision based on the data released next month.Russian Foreign Minister Lavrov: Russia has not received any proposal from the United States to assist in the operation of the Zaporizhia nuclear power plant.Russian Foreign Minister Lavrov: Russia will continue to strike targets used by the Ukrainian military as well as foreign fighters and military instructors sent by Europe.

Forecast for Gold Price: XAU/USD fluctuates above $1,950 as risk-on sentiment loses steam ahead of US NFP

Daniel Rogers

Feb 02, 2023 15:52

 截屏2022-11-24 下午3.13.23.png

 

Gold price (XAU/USD) is exhibiting back-and-forth movement in the early London session following a stunning rally above the important resistance of $1,950.00. As the US Dollar Index (DXY) builds a buffer around 100.50, the precious metal has shifted to the sidelines. A lesser interest rate increase by the Federal Reserve (Fed) has driven the USD Index onto a downward trend, maintaining the bullish bias.

 

National Bank of Canada economists opine, "It would be a mistake for the Fed to continue hiking its key rate substantially above the current level and holding it there for an extended length of time if inflation continues to disappoint." Therefore, a FOMC policy shift is anticipated in the first quarter of 2023, which would pave the way for a more protracted drop.

 

Meanwhile, S&P500 futures are confidently maintaining their morning gains, indicating that the risk appetite theme is highly robust. However, 10-year US Treasury yields have risen beyond 3.42 percent.

 

After the Fed's policy-induced volatility, investors are moving their attention to Friday's release of United States Nonfarm Payrolls (NFP) (January) data. According to the consensus, the US economy added 185K jobs in January, compared to 223K in December. The unemployment rate is anticipated to rise to 3.6%. Also, the Average Hourly Earnings are anticipated to increase to 4.9% from 4.6% in the previous report.