On Tuesday (June 14), the international gold price rebounded and turned up after refreshing its low since May 18 to $1809.16 / ounce. The suspension of the upward pace of the dollar eased the selling pressure on the gold market. However, due to the increasing market bets on the Federal Reserve to actively tighten monetary policy, the rise of gold prices has been limited. It is almost certain that the hawkish stance of the Federal Reserve will only be stronger than that in March.
On June 6, Citigroup and Barclays raised their oil price expectations. Sanctions against Russia and the postponement of Iran's nuclear agreement are the main reasons for more optimistic predictions. Citigroup predicts that Brent crude oil price will be $113 per barrel in the second quarter of 2022. Barclays currently expects the average price of Brent crude oil to be $111 this year and next.
At the beginning of Asian trading on Monday (June 20), the US dollar index is now at 104.66; The US dollar index rose nearly 1% last Friday; The US dollar rose by more than 2% against the yen, and the Bank of Japan insisted on its ultra loose position against the tightening trend, which aggravated the volatility of the foreign exchange market. Last week, a series of interest rate hikes impacted the foreign exchange market, resulting in a sharp rise in volatility.
Bitcoin (BTC) and other cryptocurrency market highlights review:
Financial Associated Press, July 18 (Editor Niu Zhanlin) Against the backdrop of economic recession expectations and global turmoil, the U.S. dollar index continued to strengthen. above. Wall Street is currently unanimous that the dollar will continue its rally, and this rally has no end in sight in the short term.
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