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The UKs June Nationwide House Price Index will be released in ten minutes.July 1st - According to statistics from the Hengqin Border Inspection Station of the Zhuhai Border Inspection General Station, in the first half of 2026, the total number of passengers entering and leaving the country through the Hengqin Port exceeded 17.77 million, a year-on-year increase of 27.8%; the number of vehicles entering and leaving the country reached 2.21 million, a year-on-year increase of 40.6%. Among them, 1.46 million vehicles had Macao license plates, accounting for 66.2% of the total number of vehicles. The ports passenger and vehicle traffic increased simultaneously, and the vitality of two-way exchanges between Hengqin and Macao continued to be released.On July 1st, Jun Mimura, Japans top foreign exchange official, stated that Japans intervention in the foreign exchange market two months prior to support the yen was successful and received support from some U.S. officials. He said, "Judging from the subsequent market performance, I believe that intervention was clearly meaningful. To my knowledge, the U.S. never commented against our actions; on the contrary, they actually made some more supportive statements." Mimuras remarks came as the yen fell to a 40-year low against the dollar, posing a greater risk of inflation for Japan. Japan is a major energy importer, and food imports account for more than half of its economy. He emphasized frequent communication with Washington, stating, "Through phone calls and emails, I contact them much more frequently than people imagine."Japans household consumer confidence index for June was 33.8, below the expected 34.1 and the previous reading of 33.6.Japans top foreign exchange official: To the best of my knowledge, the United States has never made any comments opposing our actions; on the contrary, the U.S. has actually made some more supportive statements.

Gold Maintains Recent Advances While Investors Await GDP And Inflation Data

Aria Thomas

Dec 22, 2022 11:35

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Gold prices increased on Thursday as fears of a recession in 2023 prompted some safe-haven buying of the yellow metal, with attention now shifting to this week's crucial numbers on U.S. economic growth and inflation.


The price of gold rose this week against a lower dollar, which was in part weighed down by the Bank of Japan's less dovish than anticipated position. The dollar was also weakened by rising wagers that U.S. inflation has reached its peak, which could prompt the Federal Reserve to reduce its rate hikes.


Spot gold increased 0.2% to $1,818.58 per ounce by 20:08 ET, while gold futures advanced 0.1% to $1,827.45 per ounce (01:08 GMT). The yellow metal was trading close to a five-month high, up 1.5% for the week.


The markets are currently awaiting revised third-quarter GDP statistics from the U.S. An first estimate indicated that the economy grew by 2.9% in the third quarter, which was better than anticipated, and economists anticipate that the figure will remain unchanged in its first revision, scheduled later in the day.


This week, all eyes are on the U.S. Personal Consumption Expenditures price index, the preferred inflation gauge of the Federal Reserve. In November, the core index is anticipated to have decreased more than the previous month.


However, the index remains significantly above the Fed's yearly goal range, signaling that the central bank must continue to tighten monetary policy to combat inflation.


In the coming months, the likelihood of higher interest rates in developed countries is likely to keep gold prices restrained, as the Bank of Japan, European Central Bank, and Bank of England deliver hawkish signals.


Thursday was a positive day for other precious metals, although their prognosis remains uncertain. This week's focus is also on Japanese consumer inflation statistics, particularly after the BOJ tightened policy after nearly a decade of supportive policies.


Copper prices soared among industrial metals as additional signals of an economic recovery in China emerged, despite China's enormous increase in COVID-19 cases.


Copper futures increased 0.7% to $3.8425 per pound and were projected to increase by more than 2% this week.


The outlook for copper prices remains uncertain in the face of rising interest rates and a possible economic downturn.


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