EUR/USD 1.04603
-0.389%
Gold 2934.64
-0.152%
Oil 70.150
-3.276%
USD/JPY 149.130
-0.358%
GBP/USD 1.26302
-0.299%
GBP/JPY 188.355
-0.626%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On February 23, Intel (INTC.O) updated the introduction of its semiconductor foundry related pages yesterday and announced that its Intel 18A process is ready and plans to start tape-out in the first half of this year. The maturity of the 18A process marks a major breakthrough in Intels IDM 2.0 strategy and is also seen as a key signal for Intel Foundry Services (IFS) to regain its former glory.On February 23, the Xiaopeng Huitian "Land Aircraft Carrier" land vehicle has completed winter testing in Yakeshi and is currently in the acceptance stage. It is reported that the land vehicle is driven by six motors and the whole vehicle is manufactured by Xiaopeng Motors. According to previous plans, the Xiaopeng Huitian "Land Aircraft Carrier" aircraft factory will be completed in the third quarter of this year, and the complete flying car will be mass-produced and delivered in 2026.On February 23, local time on February 22, the BMW Group issued a statement saying that due to the uncertainty facing the industry, the company is re-evaluating the timetable for producing all-electric Mini models in the UK. It is understood that the Mini brand electric vehicle production line was originally scheduled to be put into production at the Oxford plant in the UK in 2026, and it is committed to achieving full electrification transformation by 2030.According to Ukrainian Pravda: Russia lost 1,180 soldiers in the past 24 hours.SK Group Chairman Choi Tae-won: Artificial intelligence and energy have now become the core of global change. Cooperation among South Korea, the United States and Japan in this regard is not an option but a necessity.

Forecast for the Gold Price: XAU/USD struggles near $2,020 as the US Dollar Index defends its downside

Daniel Rogers

Apr 13, 2023 14:02

 截屏2022-06-07 下午5.14.47.png

 

After reaching the critical resistance of $2,020.00 in the Tokyo session, the gold price (XAU / USD) has shown depletion in its upward momentum. As the impact of a slowdown in U.S. inflation would persist for an extended period of time, the precious metal's bullish bias remains strong. After testing its critical low of 101.44, the US Dollar Index (DXY) has shown some resilience, as the lower US Consumer Price Index (CPI) has failed to diminish the likelihood of consecutive 25 basis point (bps) rate hikes from the Federal Reserve (Fed).

 

According to the CME Fedwatch instrument, the probability of a 25 basis point rate increase at the monetary policy meeting in May is greater than 68%.

 

Moreover, S&P500 futures have extended their gains since Wednesday's pessimistic close, indicating a recovery in the risk-on sentiment.

 

Examining the US inflation report reveals that headline inflation has decreased more than anticipated to 5%, as a result of lower petroleum prices. The investing community is aware that oil prices have rebounded substantially in April following the unexpected announcement of production cuts by OPEC+, which could disrupt the party for Gold Bulls.

 

Contrary to the headline inflation rate, the core CPI has increased to 5.6% from 5.5% in the previous report as rent prices remained stable. This suggests that core inflation could remain exceedingly persistent in the future.

 

As reported by Reuters, San Francisco Fed Bank President Mary Daly stated late Wednesday, "There's a lot more monetary policy tightening in the pipeline." She refrained, however, from predicting the end of the tightening cycle.


Suggestion