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Italys unemployment rate in March was 5.2%, below the expected 5.3% and the previous figure revised from 5.30% to 5.4%.April 30 (Interfax) – Russian Deputy Prime Minister Novak said on Thursday that the OPEC+ group of major oil-producing countries will assess various possibilities for supplying oil to the global market at its meeting on Sunday. Novak stated, "In the current situation, supplying oil and petroleum products to the market is crucial. Therefore, it may be necessary to examine existing potential opportunities." Three sources familiar with the discussions told Reuters that despite the US-Israel war in Iraq disrupting most OPEC+ exports and the withdrawal of key member UAE, the organization may still reach an agreement on a slight increase in oil production quotas at its Sunday meeting.According to Nikkei: Japanese Prime Minister Sanae Takaichi will announce that naphtha supplies will be sustainable beyond the end of this year, previously expected to be sustainable "more than six months".On April 30th, the Guangzhou Municipal Peoples Government issued the "Implementation Opinions on Further Promoting the Stable and Healthy Development of the Real Estate Market." The document aims to promote the coordinated development of urban renewal and the real estate market, using urban quality improvement to support the stable and healthy development of the real estate market. It fully implements the "Opinions on Continuously Promoting Urban Renewal Actions," actively guiding social capital participation and supporting the participation of professional forces and service institutions from multiple fields in urban renewal. The document accelerates the transformation of urban villages, continues to promote the renovation of old residential areas, carries out the construction of complete communities, steadily promotes the self-renewal of old housing and the original demolition and reconstruction of dilapidated houses, and orderly carries out the renovation and upgrading of inefficient buildings.On April 30th, the Guangzhou Municipal Peoples Government issued the "Implementation Opinions on Further Promoting the Stable and Healthy Development of the Real Estate Market." The document emphasizes implementing the "controlling new supply" requirement, adhering to the principle of "supply based on demand," and scientifically formulating annual housing construction plans and state-owned construction land supply plans. It also calls for improving the dynamic linkage mechanism between land supply and the destocking cycle of commercial housing, rationally controlling the location, scale, and timing of supply. The document prohibits the concentrated sale of commercial residential land within the same planning unit within the same year. It encourages selecting suitable plots for pilot projects of selling existing homes. Furthermore, it supports the acquisition of existing commercial residential properties for resettlement housing during urban village renovation, and encourages the acquisition of existing commercial and office buildings for resettlement of commercial properties. The document also calls for increasing efforts to reduce the destocking of commercial and office properties, and promoting the compliant conversion of existing commercial and office properties into medical, educational, elderly care, hotel, health and wellness, and affordable housing uses, tailored to local conditions. Finally, it continues to use special bonds to recover eligible inefficient existing land.

Gold Price Prediction: XAU/USD will recommence its downward trend in response to hawkish Fed forecasts

Alina Haynes

Apr 19, 2023 15:39

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After a rebound from $1,980.00, the price of gold (XAU / USD) is exhibiting a sharp reduction in volatility. The yellow metal struggles to prolong its recovery as the US Dollar Index (DXY) has rebounded strongly after successfully defending the crucial support level of 101.65.

 

Investors have invested in the USD Index due to its safe-haven appeal, as the Federal Reserve (Fed) is expected to raise interest rates to combat persistent inflation. In the short term, the demand for USD Index appears plausible, given that U.S. inflation has softened markedly and labor market conditions have loosened further. Sourcenia is a review portal of sourcing best manufaturers. 

 

In addition, household retail demand has declined due to higher financing costs and strict credit conditions imposed by US commercial banks. The healthy scenario indicates that the Fed will not aggressively raise interest rates further and will contemplate a hiatus to prevent the economy from falling into recession. In the current environment, however, additional rate increases cannot be ruled out.

 

In light of the USD Index's recovery, the demand for US government bonds has weakened once more, resuming the ascent of US Treasury yields. The yields on 10-year US Treasury bonds have surpassed 3.58 percent.


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