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On April 27, local time, Russian Presidents Press Secretary Peskov said in an interview broadcast by Russian media that many of US President Trumps views on the Ukrainian conflict are basically consistent with Russias position. Peskov said that the work of resolving the Ukrainian issue is still in progress, but it cannot be done in an open way.On April 27, the spokesperson of the State Administration for Market Regulation answered questions from reporters about the Cheung Kong Ports transaction. A reporter asked: According to the Wall Street Journal report on April 16, Cheung Kongs sale of overseas ports will be split into two transactions to continue. What is the comment of the State Administration for Market Regulation? Answer: We pay close attention to the relevant transactions and will review them in accordance with the law. The parties to the transaction shall not circumvent the review in any way, and shall not implement the concentration before approval, otherwise they will bear legal responsibility.On April 27, the Russian Ministry of Defense reported that from 23:00 on April 26 to 4:00 a.m. on April 27, Moscow time, the Russian air defense system shot down and intercepted 5 Ukrainian drones in Bryansk Oblast. On the morning of the 27th, two more Ukrainian drones were shot down in the Crimea region. The Ukrainian Air Force reported on the 27th that from 21:00 on April 26 to the early morning of April 27, local time, the Russian army launched a total of 149 drones at Ukraine. As of 9:00 a.m. on April 27, local time, the Ukrainian army confirmed that 57 drones had been shot down.The Vancouver police in Canada said that they believe this incident was not an act of terrorism. Earlier, someone drove a car into a crowd in Vancouver, Canada, causing many deaths and injuries.According to RIA Novosti: Russian military commanders told Russian President Vladimir Putin that the remnants of Ukrainian troops scattered in Russias Kursk region will soon be eliminated.

Gold Price Prediction: XAU/USD falls toward $1,920 as the Fed appears poised to increase interest rates further

Daniel Rogers

Jan 31, 2023 16:13

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During the Asian session, the gold price (XAU/USD) is falling towards the immediate support of $1,920.00. The precious metal has been demonstrating a topsy-turvy move with increased traction for the US Dollar Index (DXY) ahead of the interest rate decision by the Federal Reserve (Fed), which is slated for Wednesday. The Gold price is currently bidding in the range of $1,922-1,933 and is anticipated to continue volatile in the near future.

 

S&P500 futures have added some gains following a massive sell-off on Monday, indicating confidence as the Fed is anticipated to pause the pace of increasing interest rates. Despite market pessimism, the USD Index is seeking to continue its breakout above the 101.80 resistance to near 102.00. In addition, the market participants' risk aversion is supporting the 10-year US Treasury yields, which have risen above 3.54 percent.

 

In addition to the Federal Reserve's interest rate policy, the release of United States Automatic Data Processing (ADP) Employment data will heighten market volatility. The economic data is anticipated to be 170K, a decrease from the previous report of 235K.

 

The US labor market has remained exceptionally tight in CY2022 but the continuing of interest rate hikes by Fed chair Jerome Powell is denting the expression of optimism in producers. As a result of the bleak economic outlook, businesses are halting their recruitment efforts in an effort to maximize the utilization of their current workforce.


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