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A senior Iranian source said that on Tuesday, the intermediary contacted Iran and the two sides discussed continuing to advance the diplomatic process.April 2nd - According to the New York Times, US officials revealed that multiple US intelligence agencies recently assessed that the Iranian government is currently unwilling to engage in substantive negotiations to end the US-Israel war. Officials stated that the assessment suggests the Iranian government believes it is in a dominant position during the war and is not obligated to comply with US diplomatic demands. They said that although Iran is willing to maintain open communication channels, the country distrusts the US and believes President Trump is not genuinely interested in negotiations. In the past year, Trump has twice ordered attacks on Iran while negotiating its nuclear program. These assessments are consistent with recent statements from Iranian officials. US and Iranian officials stated that the two countries are exchanging information through intermediary countries and perhaps directly, but have not negotiated the conditions for a ceasefire or an end to the war.According to the New York Times, several U.S. intelligence agencies recently assessed that the Iranian government is currently unwilling to engage in substantive negotiations to end the war. U.S. intelligence officials stated that Iran believes Trump lacks sincerity in negotiations.Shipping data shows that Venezuelan trading companies daily oil exports rose to over 600,000 barrels in March. More oil shipments destined for India and the Caribbean for storage are driving up exports.Shipping data shows that Chevrons (CVX.N) oil exports to Venezuela rose to approximately 267,000 barrels per day in March.

Gold Price Prediction: XAU / USD corrects to around $1,910 despite intensifying concerns of a global banking crisis

Alina Haynes

Mar 16, 2023 14:00

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After reaching a new six-week high at $1,937.39, the gold price (XAU/USD) displayed a corrective move during the Asian session. As gold's allure is extremely strong amid growing concerns about the global banking crisis, a correction in the precious metal appears to be short-lived. Credit Suisse's debacle following the failure of Silicon Valley Bank (SVB) has triggered the risk of global financial instability, and uncertainty over the Federal Reserve's (Fed) upcoming interest rate decision has bolstered the case for the Gold price.

 

S&P500 futures have shown a recovery move following Wednesday's sell-off as investors assess the banking sector's uncertainty. However, the motif of risk aversion has not yet completely subsided.

 

During the Asian session, the US Dollar Index (DXY) is fluctuating in a narrow range of around 104.60. It appears that the impact of banking sector turmoil is maturing for the USD Index, and investors are beginning to discount expectations for next week's monetary policy. According to the CME FedWatch instrument, the probability that Fed chair Jerome Powell will raise interest rates by 25 basis points (bps) has risen above 70%. While 30% of the probabilities support maintaining the current interest rate policy.

 

Increasing odds of a status quo monetary policy are supported by a declining Consumer Price Index (CPI), a rising Unemployment Rate, sluggish Retail Sales, and a declining Producer Price Index (PPI).


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