EUR/USD 1.16623
0.004%
Gold 4711.59
-0.162%
Oil 91.347
0.116%
USD/JPY 158.765
0.124%
GBP/USD 1.33928
-0.012%
GBP/JPY 212.635
0.124%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
The subscription multiple for the Japanese five-year government bond auction was 3.58, compared to 3.69 in the previous auction.Musk: Teslas V15 Autopilot is far safer than humans in completely unsupervised and complex situations.April 9th - According to CNN, the latest satellite images provided by the European Space Agency show thick black smoke rising from the Abqaiq processing facility in Saudi Arabias Atatürk. This comes after reports that Iran launched an attack on Wednesday. According to Saudi Aramco, the Abqaiq plant is the worlds largest crude oil stabilization unit, supplying approximately 5% of the worlds oil. The facility processes sour crude oil into sweet crude, which is then transported to Saudi Arabias east and west coasts via the "East-West Pipeline." Due to severe trade disruptions caused by the war with Iran, this pipeline is one of only two routes in the region that bypass the Strait of Hormuz.On April 9, Li Xingqian, Vice Chairman of the China Council for the Promotion of International Trade (CCPIT), met with a delegation led by Antonio Noronha, President of the Portugal-China Chamber of Commerce and Industry, in Beijing. They exchanged views on deepening exchanges and cooperation between the Chinese and Portuguese business communities, serving the development of foreign-invested enterprises in China, and deepening international cooperation in industrial and supply chains.On April 9th, MINIMAX-W (00100.HK) announced the release of MMX-CLI, a command-line tool for AI agents. According to the announcement, after connecting to MMX-CLI, the agent can natively call MiniMaxs latest full-modal models for programming, video generation, speech synthesis, and music creation in environments such as ClaudeCode and OpenClaw, without needing to adapt to cumbersome interfaces or write additional MCP servers.

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