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On May 26, the State Council Information Office held a regular policy briefing to introduce the "Implementation Opinions on Promoting the Provision of Basic Public Services in Place of Residence" (hereinafter referred to as the "Implementation Opinions"). Jiang Chengjia, Director of the Planning, Finance and Legal Affairs Department of the National Healthcare Security Administration, stated that the National Healthcare Security Administration is effectively guaranteeing the participation rights of key groups such as primary and secondary school students and preschool children with non-local household registration, promoting the realization of "where you reside, where you participate in insurance, and where you enjoy benefits." Next, the National Healthcare Security Administration will intensify its efforts in accordance with the "Implementation Opinions" to continuously improve the level of universal healthcare services.The Bank of Japan said that Deputy Governor Shinichi Uchida plans to resume working at the Bank of Japan office starting Wednesday.On May 26, the State Council Information Office held a regular policy briefing to introduce the "Implementation Opinions on Promoting the Provision of Basic Public Services in Place of Residence" (hereinafter referred to as the "Implementation Opinions"). Zheng Bei, Vice Chairman of the National Development and Reform Commission, stated that promoting the transfer of public services based on residency should be achieved through the mutual recognition of residence permits and length of residence, ensuring continued access to public services. The "Implementation Opinions" clearly state that the mutual recognition of residence permits and the conversion of length of residence or residency points will be promoted to guarantee the continuous enjoyment of basic public services by the floating population. This means that when a persons place of residence changes, the length of residence in the previous city can be accumulated or converted in the current city in a certain way, thus ensuring continued access to public services.The Bank of Japan announced that its Deputy Governor, Shinichi Uchida, was discharged from the hospital on May 26.On May 26, the State Council Information Office held a regular policy briefing to introduce the "Implementation Opinions on Promoting the Provision of Basic Public Services in Places of Residence." At the briefing, Xu Liang, Director of the Housing Security Department of the Ministry of Housing and Urban-Rural Development, stated that solving housing problems, ensuring that non-registered permanent residents can move in, stay, live comfortably, and establish careers, is an inherent requirement for practicing the people-centered urban development concept. The next step will be to encourage more cities to include non-registered permanent resident families with stable employment and residence in the public rental housing program, thereby improving the equalization of basic public services.

Gold Price Prediction: The XAU/USD pair will fall below $1870 as yields rise ahead of Fed Chair Powell's speech

Alina Haynes

Jan 10, 2023 14:55

截屏2023-01-09 下午5.31.06_1024x576.png

 

In the Tokyo session, the gold price (XAU/USD) has fallen below the immediate resistance of $1,870.00. The precious metal has broken through the consolidation formed in the band of $1,870.00-1,881.50 as demand for US government bonds deteriorates ahead of the speech by Federal Reserve (Fed) chairman Jerome Powell on Tuesday.

 

The 10-year US Treasury yields have risen beyond 3.54 percent, dampening risk appetite. Meanwhile, S&P500 futures have become volatile following a sell-off late in Monday's session, signaling caution in establishing positions in risky assets. The US Dollar Index (DXY) is anticipated to attempt a break above the immediate resistance of 103.00 into the auction area.

 

Investors anticipate Fed Powell's speech for fresh cues, as it will provide a head start for the entirety of CY2023. Despite a sharp reduction in December wage inflation, some Fed policymakers continue to endorse a terminal rate prediction of 5.00-5.25%.

 

Mary Daly, president of the San Francisco Fed Bank, argued that interest rates between 5% and 5.25 percent are fair. Also, the president of the Atlanta Federal Reserve bank, Raphael Bostic, anticipates an interest rate peak in the range of 5% to 5.25 percent and the continuation of higher interest rates through CY2023.

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