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European Commission President Ursula von der Leyen: The Black Sea has become another front for Russias escalating military operations in Ukraine, which is unacceptable.On October 13th, Danske Bank analyst Celie Bouer stated in a report that the dollar, after hitting an 18-month high on Monday, remained near its highs, boosted by weakening market risk appetite and comments from Federal Reserve official Beth Hamack supporting further rate hikes. Currently, the market is awaiting US inflation data to be released on Wednesday for further clues about the Feds future interest rate decisions. Bouer stated, "The market is currently pricing in only a 5 to 6 basis point rate hike in October, so even if the CPI data confirms that the Fed may only be raising rates once a quarter, we dont think this will have a significant impact on the dollar."Emir of Qatar: Our insistence on dialogue and peaceful solutions does not mean compromising in defending our country.Emir of Qatar: The security and sovereignty of the Gulf states are non-negotiable.On October 13th, Blackstone Group President Jon Gray stated that the fiscal pressures facing France, the UK, and other parts of Europe are more pressing than the current risks in the US, as the US is supported by economic growth driven by technology investment and the AI boom. Gray said on Tuesday, "The US will eventually have to face tough choices too, but I think its more of a challenge for France, the UK, and continental Europe right now." He pointed out that some European economies are facing significantly lower economic growth rates and huge fiscal deficits. Gray stated that historical experience shows that fiscal crises are often resolved only when market pressures force governments to take action. Gray noted that the US is currently temporarily alleviating its expanding debt problem through faster economic growth, and a key driver of this growth is the AI investment boom.

Gold Price Prediction: The XAU/USD will meet resistance around $1,875 as the USD Index strives to recover

Alina Haynes

Feb 07, 2023 15:44

截屏2022-11-24 下午3.13.23.png 

 

In the Asian session, the price of gold (XAU/USD) is under pressure to extend its recovery over the important resistance of $1,875.00. After correcting to near 103.10, the US Dollar Index (DXY) has tried a recovery, which has prompted selling interest in precious metals. Investors anticipate a volatile performance from the USD Index as they await fresh impetus from Federal Reserve (Fed) head Jerome Powell's speech.

 

The USD Index (DXY) was projected to exhibit signs of volatility shrinkage following a three-day winning streak following the release of massive United States Nonfarm Payrolls (NFP) data. After a wild ride, the USD Index bulls are weary, but the bullish bias remains intact. S&P500 futures are maintaining the modest gains made during the Asian session.

 

In light of the recent improvement in the U.S. labor market, the forthcoming speech of Fed chairman Jerome Powell has taken on greater significance. After noticing a significant decrease in inflation, the market began to anticipate a pause in the Fed's policy tightening cycle. Nonetheless, the optimistic job report for January suggests that the fight against inflation still has considerable steam.

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