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Reserve Bank of Australia Governor Bullock: Forward-looking indicators of the labor market remain stable.According to JLC Network Technologys calculations, as of the fifth working day on the 18th, the change rate was 10.67%, with the average price of reference oil types at $104.32 per barrel. Domestic gasoline and diesel prices increased by 620 yuan/ton. The price adjustment window for this round is at 24:00 on September 24th. 1. Shandong Local Refineries: Yesterday, market purchasing sentiment was generally weak. Local refineries gasoline and diesel sales did not reach production-sales balance. Coupled with the continued decline in international crude oil prices, under the dominance of negative factors, local refineries are expected to put downward pressure on gasoline and diesel prices by about 50 yuan/ton today in order to promote sales. 2. East China: On Friday, crude oil prices continued to fall, weakening support from news. It is expected that today, the prices of main refined oil products in East China will remain at a high level, with continued sales control policies, downstream wait-and-see sentiment, and a sluggish buying and selling atmosphere. 3. South China: On Friday, crude oil prices continued to fall, weakening support from positive news. It is expected that today, the prices of main gasoline and diesel products in South China will remain at a high level, with some gasoline prices possibly easing slightly. Sales companies will continue to control sales volume, and the buying and selling atmosphere will be stable. 4. North China: On Friday, oil prices continued to fall, and market caution intensified. It is expected that gasoline and diesel prices from major suppliers in North China will remain high and consolidate sideways, with some areas potentially showing a slight downward trend. The policy of controlling diesel supply and holding back sales will continue, with traders making small orders based on immediate needs, resulting in a weak trading atmosphere. 5. Central China: On Friday, crude oil prices continued to fall at the close, and news guidance weakened. It is expected that gasoline and diesel prices from major suppliers in Central China will remain stable today, with some gasoline transactions potentially showing a slight easing. Market caution intensified, and buying and selling remained weak and stable.The Peoples Bank of China (PBOC) announced today that it conducted 463.3 billion yuan of 7-day reverse repurchase operations, with both the bid and winning bids amounting to 463.3 billion yuan. The interest rate for the operations was 1.40%. In addition, it conducted 100 billion yuan of 14-day reverse repurchase operations using a fixed-quantity, interest-rate bidding method with multiple price levels.The Saudi Embassy in the United States stated that the proposed F-35 arms sale demonstrates the strength and enduring stability of the Saudi-US strategic partnership.On September 18th, it was reported that industry insiders revealed SK Inc., a holding company of the SK Group, has transferred three of its four vice chairmen to SK Hynix. These three executives are Seo Jin-Woo, Yu Jeong-Joon, and Lee Hyung-Hee, who previously led the groups global business and external collaborations. SK Group stated that this personnel reshuffle took into account the increasing geopolitical uncertainty in the semiconductor industry. A company official explained, "The aim is to have senior executives with global experience and expertise advise on the overall operations of SK Hynix and support the development of its medium- and long-term vision." To this end, the three vice chairmen have recently begun in-depth one-on-one interviews with all SK Hynix executives. Furthermore, the report stated that SK Groups team of professional vice chairmen has also simultaneously joined SK Hynix.

Gold Price Prediction: XAU/USD Weakness Dependent on $1,920 Breakout and Fed Decision - Confluence Detector

Daniel Rogers

Jan 30, 2023 15:27

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Gold price (XAU/USD) maintains a defensive stance near $1,930, posting modest gains ahead of Monday's European session, as traders begin the crucial week including the Federal Reserve's (Fed) monetary policy and the January US employment report. China's return after a one-week holiday might bolster the cautious optimism of XAU/USD traders, as could prospects for a dovish raise from the Fed and disappointing Nonfarm Payrolls data (NFP).

 

Notably, a slower start to a pivotal week with a high economic data load also appears to underpin the Gold prices' corrective rebound from a short-term major support confluence. However, the metal's short-term movements depend on the Fed's ability to push back the dovish inclination despite the confirmation of the impending policy shift.