EUR/USD 1.13587
-0.267%
Gold 3304.73
-1.311%
Oil 62.946
0.567%
USD/JPY 143.646
0.705%
GBP/USD 1.33184
-0.168%
GBP/JPY 191.311
0.579%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On April 26, UBS said that the current market thinking is consistent with the banks basic forecast, that is, tariffs will be reduced from the current announced level for the rest of the year, and the Federal Reserve will further cut interest rates this year. However, as uncertainty in trade, economy and Federal Reserve policy remains high, expected volatility also remains high. However, UBS believes that the US stock market is attractive, and the S&P 500 index target continues to be 5,800 points by the end of the year. UBSs current basic forecast is that the Federal Reserve will cut interest rates by 75 to 100 basis points this year, but in the short term, the Feds policy flexibility seems more limited because it must balance concerns about economic growth with the risk of inflation recovery.According to AFP: Senior officials said that Ukrainian President Zelensky and US President Trump may meet in Rome.Spokesman for Ukrainian President Volodymyr Zelensky: Ukrainian President Volodymyr Zelensky has arrived in Rome to attend the Popes funeral.According to the Ukrainian National News Agency: Russian troops launched 414 attacks in the Zaporizhia region at night.Market news: Ukrainian President Zelensky and his wife arrived in Rome.

Gold Price Prediction: XAU/USD bears maintain control below $1,845 - Convergence Detection

Daniel Rogers

Feb 21, 2023 15:13

 264.png

 

Gold price (XAU/USD) declines toward the previous week's low, which is also the lowest level since late December, as risk aversion and the restoration of full markets combine to support the US Dollar. The rising rates on US Treasury bonds may bolster the greenback and weigh on the XAU/USD.

 

Yet, geopolitical concerns regarding China and Russia appear to be driving the recent push toward risk aversion. With the good US data, there are new concerns regarding the Federal Reserve's (Fed) hawkish move. Notably, the cautious sentiment preceding the preliminary readings of the US Purchasing Managers Index (PMI) data for February appears to pose a challenge to the Gold price. Wednesday's Federal Open Market Committee (FOMC) Monetary Policy Meeting Minutes are also crucial.

 

In addition to the cautious mood and fears of a rising Fed rate, technical convergence gives gold bears reason to be optimistic.


Suggestion