• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
July 2, Kenanga economists said in a report that Indonesias recent export performance is expected to remain resilient, partly due to early shipments ahead of possible U.S. tariffs and a lower base than last year. Exports have grown 7.3% so far this year, reflecting strong momentum driven by strong U.S. demand. They expect Indonesias export growth rate to rise to 6.1% in 2025 from 2.3% in 2024, despite continued uncertainty in global trade.Japanese Deputy Chief Cabinet Secretary Kazuhiko Aoki: We will continue trade negotiations with the United States and strive to reach a win-win agreement.The Hang Seng Tech Index turned to decline, after previously rising by more than 1%; the Hang Seng Index is now up 0.65%.July 2, according to sources, Intel (INTC.O) CEO is considering changing the strategy of its foundry business. It is considering skipping the 18A manufacturing process for new foundry customers and directly adopting the 14A process. Intels board of directors is expected to discuss the future of the 18A manufacturing process for foundry customers this month. Analysts said that the asset write-down of the 18A foundry business could cost Intel hundreds of millions of dollars.The Hang Seng Index in Hong Kong opened up 232.03 points, or 0.96%, at 24,304.31 points on July 2 (Wednesday); the Hang Seng Technology Index opened up 56.85 points, or 1.07%, at 5,359.67 points on July 2 (Wednesday); the CSI 300 Index opened up 95.19 points, or 1.1%, at 8,773.49 points on July 2 (Wednesday); and the H-share Index opened up 18.48 points, or 0.46%, at 4,068.47 points on July 2 (Wednesday).

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).