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February 5th - According to the latest report from CIMBs Treasury and Markets Research Department, the Singapore dollar weakened slightly against the US dollar during Thursdays Asian trading session as markets anticipated a possible pause in interest rate cuts by the Federal Reserve. Federal Reserve Governor Cook recently expressed caution regarding inflation, and several other Fed officials share similar concerns. Analysts indicate that unless inflation slows further and no major negative surprises occur in the labor market, the Feds policy rate is expected to remain unchanged for some time.February 5th - Data released today (February 5th) by the China Machinery Industry Federation shows that, supported by a series of national policies aimed at stabilizing growth, including those related to "major projects" and "new infrastructure," the machinery industrys economic performance remained stable and improved, exhibiting characteristics of innovation and quality improvement. In 2025, my countrys machinery industry achieved rapid growth, with the added value of enterprises above designated size increasing by 8.2% year-on-year, 2.3 and 1.8 percentage points higher than the national industrial and manufacturing growth rates, respectively. The added value of all five major national economic sectors—automobile manufacturing, electrical machinery manufacturing, general equipment manufacturing, special equipment manufacturing, and instrumentation manufacturing—achieved growth. Among them, the automobile manufacturing industry continued to play a leading role, with a growth rate of 11.5%. Furthermore, the production and sales situation of my countrys machinery industry also remained stable and improved in 2025.On February 5th, Deng Zhiyong, Deputy Director of the State Administration for Market Regulation and Director of the National Standardization Management Committee, stated at a press conference held by the State Council Information Office that the State Administration for Market Regulation will take the construction of safe consumption clusters as a vehicle to issue policy documents such as safe consumption standards and the cultivation of safe consumption entities, and cultivate a large number of safe business districts, safe markets, and safe scenic spots with wide impact and high visibility, so that consumers can feel and access them.Sony (SONY.N) has increased the maximum amount of its share buyback program from 100 billion yen to 150 billion yen.European stock index futures fell, with the Euro Stoxx 50 futures down 0.3%, the German DAX futures down 0.3%, and the UK FTSE 100 futures down 0.2%.

Gold Price Prediction: XAU/USD anticipates additional gains ahead of China and U.S. inflation

Alina Haynes

Jan 11, 2023 11:54

Gold price (XAU/USD) demonstrates usual pre-data concern as it approaches $1,875 on Wednesday morning, exploring a three-day rally around the highest levels since May 2022. In doing so, gold demonstrates the market's faith in the traditional safe-haven, even if the US Dollar recovers from its multi-day low. The uncertainty surrounding the next steps of the US Federal Reserve (Fed) and the pessimistic economic forecasts of the World Bank (WB), not to mention cautious optimism towards China, may be to blame.

 

Federal Reserve (Fed) Chair Jerome Powell's remarks at Riksbank's International Symposium on Central Bank Independence were unable to provide additional clarification on the US central bank's monetary policy outlook, which prompted a stampede for gold in the face of uncertainty. In his most recent public appearances, the policymaker lauded the US central bank's latest steps while emphasizing the Fed's independence and lack of commitment to climate control. Notably, Federal Reserve Governor Michelle Bowman seemed hawkish when she stated that additional rate hikes are required to combat excessive inflation, which should have pressured the XAU/USD bulls in the aftermath.

 

Notably, the recent softening of hawkish bets on the Fed's next moves, as well as lower US data, appear to keep gold investors optimistic, despite the Federal Reserve's efforts to defend its tight monetary policy. Tuesday, the US NFIB Business Optimism Index for December fell to its lowest level since 2013 if various anxieties caused by the worldwide Covid wave are disregarded. In addition, US Wholesale Inventories for November stayed constant at 1.0% growth.

 

Alternatively, a rebound in the US Dollar Index (DXY) from the seven-month low appears to pose a threat to the Gold price, due to the inverse link between the XAU/USD and the dollar's index against the six main currencies. Tuesday marked the conclusion of a two-day downturn for the DXY as it rebounded from the multiday low to settle at 103.30. In doing so, the US Dollar Index tracked the firmer US 10-year Treasury note yields, which increased 10 basis points (bps) to 3.61 percent, falling one basis point (bp) to 3.60 percent at the latest.

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