EUR/USD 1.16224
-0.020%
Gold 4537.77
-0.129%
Oil 98.112
-0.155%
USD/JPY 158.981
0.038%
GBP/USD 1.34304
-0.033%
GBP/JPY 213.521
0.007%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
NIO: Over 100,000 new ES8s have been delivered.JPMorgan Chase raised its price target for Nvidia (NVDA.O) from $265 to $280.On May 21, Hong Kong Chief Executive John Lee, in his address at the 9th World Finance Forum Annual Meeting and the Intercontinental Dialogue 2026 Annual Conference, stated that Hong Kong, under the "One Country, Two Systems" principle, is interconnected both domestically and internationally. Its common law system aligns with global financial centers, providing a first-class platform for global investors to achieve their goals. Hong Kong is the worlds third-largest and Asias largest international financial center. According to the latest assessment by the International Monetary Fund, Hong Kong banks maintain adequate capital, sound liquidity, and good profitability, and the linked exchange rate system is credible. Lee emphasized that in the current complex and volatile international environment, we must take proactive measures. Hong Kong will continue to leverage its unique advantages of being backed by the motherland and connected to the world, building bridges for dialogue, expanding multilateral cooperation, and sharing the fruits of stability and growth with the world.Jefferies: Raises its price target for Nvidia (NVDA.O) from $275 to $300.On May 21st, Alibabas large-scale speech models Fun-Realtime-ASR and Fun-Realtime-AudioChat topped the charts on Artificial Analysis, a globally authoritative AI evaluation platform, surpassing top international models such as GPT-Realtime-2. They achieved first place in three metrics: "Accuracy (word error rate)," "Understanding (speech reasoning)," and "Conversation fluency." As a new human-computer interaction gateway, Alibabas large-scale speech model family has been deeply integrated into applications such as Qianwen App, Gaode Maps, and DingTalk, providing services such as real-time speech-to-text conversion, intelligent navigation interaction, and meeting minutes generation.

Gold Price Prediction: XAU/USD bears at $1,650 on Fed hawkishness and China news

Daniel Rogers

Sep 19, 2022 14:34

 161.png

 

During early Monday morning in Europe, the gold price (XAU/USD) maintains a position close to the intraday low at $1,670. In doing so, metal prices endure the weight of a stronger U.S. dollar amidst a sluggish session caused by Japanese and British vacations. The cause may be related to the Fed's hawkish bets and China-related news stories.

 

US Dollar Index (DXY) reverses a two-day slump while posting intraday gains of 0.18 percent at 109.85 as of press time. Indicators of the U.S. dollar's value versus the six major currencies have recently been buoyed by the University of Michigan's September consumer sentiment report and the market's positive expectations on the Fed's next move. Consequently, the probability of a 75-basis-point (bps) rate hike by the Federal Reserve increased to 80%, while the market's estimates of a one-percentage-point increase in the Fed rate rose to 20% at the latest.

 

US President Biden stated elsewhere, "I'm more positive than I've been in a long time." The national leader also claimed that inflation will be brought under control. On the same line are the covid updates from China, which have unlocked Dalian and Chengdu while observing zero coronavirus cases in Beijing and one, as opposed to zero the day before, outside of Shanghai's quarantine zone. However, US President Biden's willingness to support Taiwan in the event that China assaults Taiwan and hawkish expectations for the Federal Reserve appear to weigh on the steel price ahead of the major monetary policy pronouncements.

 

In addition, the People's Bank of China (PBOC) reduces the 14-day reverse repo rate by 10 basis points to 2.15 percent. "With no maturing reverse repos on Monday, the Chinese central bank injects 12 billion yuan," reports Reuters. The same might have indicated that the dragon nation is not in recovery mode and requires more rate cuts than rate raises, which could have caused the gold price to plummet. The cause is China's position as one of the world's largest gold consumers.

 

In light of this, the S&P 500 Futures post modest losses while mirroring Wall Street's Friday close. Notably, the selling in Japan curbs bond movements in Asia, but yields are robust near the multi-day high due to fears of a recession and hawkish Fed views.

 

Moving forward, a light economic calendar and important market holidays may limit intraday XAU/USD price fluctuations. However, bears are expected to maintain control because to aggressive Fed expectations, which, if dashed, might defy the bearish chart pattern and spark the long-awaited rally.

Suggestion