EUR/USD 1.17900
0.068%
Gold 4793.70
0.062%
Oil 89.077
-0.611%
USD/JPY 159.174
0.021%
GBP/USD 1.35288
0.018%
GBP/JPY 215.348
0.050%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
April 17th - According to the latest data released by Counterpoint Research on Friday, Apples (AAPL.O) iPhone shipments in China grew by 20% in the first quarter of this year, the strongest growth among major suppliers. The data shows that smartphone shipments in China, the worlds largest smartphone market, declined by 4% between January and March, mainly due to supply chain disruptions and soaring memory chip prices. However, Huawei and Apple bucked the trend, achieving growth of 2% and 20% respectively.On April 17th, European Central Bank (ECB) Governing Council member Michel Mueller stated that the ECB needs to remain vigilant regarding potential inflation risks arising from the Iran war, but should not act rashly. There are currently no signs of a broader second round of price impacts, and the ECB is in a more favorable position than it was in 2022. However, it would be "too dangerous" to assume that the energy shock is temporary and can be completely ignored. He stated, "We can perhaps exercise a little patience and not rush into action. But of course, we dont want to hesitate and fall behind the developments."On Friday, April 17, the Hang Seng Index closed down 233.93 points, or 0.89%, at 26,160.33; the Hang Seng Tech Index closed down 49.4 points, or 0.97%, at 5,042.68; the H-share Index closed down 60.09 points, or 0.67%, at 8,845.02; and the Red Chip Index closed down 21.69 points, or 0.5%, at 4,325.72.The Eurozones unadjusted current account balance for February was €21.1 billion, compared to €13 billion in the previous month.The Eurozones seasonally adjusted current account balance was €25 billion in February, compared to €37.9 billion in the previous month.

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

 截屏2022-09-15 下午3.06.36.png

 

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).


Suggestion