What is happening in Ukraine? Let’s Have a Quick Look on it along with Gold; April 25, 2022

What is happening in Ukraine? Let’s Have a Quick Look on it along with Gold:

Today is the 60th day of Russia – Ukraine conflicts and no concrete solutions has come to end this “Special Operations”. The overall financial markets are facing extreme volatility since the beginning of the war.

In addition, the U.S. 10-year yield has outperformed gold significantly this year and likes to remain volatile in coming days. It simply means that, the higher yield is driving the dollar up and the correlation is having a negative impact on the yellow metal. U.S. Federal Reserve Chair Jerome Powell commented during IMF meeting that, “Inflation is much higher now and our policy rate is still more accommodative than it was then so it is appropriate, in my view, to be moving a little bit more quickly.”

Let’s see what Fed brings out for the investors on the upcoming FOMC Meeting due on May 4, 2022. The upcoming week will be crucial one as U.S. FOMC and NFP Job results are scheduled to release.

Let’s check out key headline from Russia – Ukraine:

• Russia warns United States against sending more arms to Ukraine.
• Russia has said it will open a humanitarian corridor for civilians to leave Mariupol’s Azovstal plant today.
• Russia has announced a ceasefire around Mariupol’s Azovsta plant, reports AFP.
• US President Joe Biden has nominated Bridget Brink, the current ambassador to Slovakia, as the US Ambassador to Ukraine: White House. (Reuters).
• In a risky and secret visit to Ukraine, U.S. top diplomat and defense officials arrived in Kyiv on Sunday, with announcements of sweeping diplomatic changes and new military aid for the embattled country.
• Secretary of State Antony Blinken and Defense Secretary Lloyd Austin met President Volodymyr Zelenskyy, following other world leaders who have visited the capital over two months of war to signal their support for Ukraine.
• U.S. would move to reopen its embassy in Kyiv, and for the first time since 2019, nominate an American official to lead it.
• U.S. Secretary of State Blinken, after visit to Kyiv, has said that Russia is failing in its war aims, and that Ukraine is “succeeding”.
• The United States announced new military assistance for Ukraine and a renewed diplomatic push in the war-ravaged nation as President Joe Biden’s secretary of state and Pentagon chief completed a secrecy-shrouded trip to Kyiv. (AP).
• New Delhi has long walked a tightrope in its relations with the West and Moscow — which supplies most of India’s arms.
• European Commission President Ursula von der Leyen arrives in India, where she will press leaders over the country’s neutral stance on the Ukraine war.
• Zelensky criticises a decision by UN Secretary General Antonio Guterres to visit Moscow on Tuesday, instead of travelling first to Kyiv.

Source: Times of india

Technical View:

XAU/USD:

• Gold depreciates sharply on Monday and hits lowest level since March 29, 2022.
• Today pair made intraday high at $1,934 and low at $1,905 mark.
• A day chart is up and H1 chart with triple EMA suggests down trend for the time being.
• A sustained close above $1,918 on H1 chart requires for the upside rally.
• Alternatively, a consistent close below $1,897 on H1 chart will test further supports.

Take a look and do trade wisely!
Good Luck