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The Xiaomi N90 Max Explorer Edition is priced at 299,900 yuan.The Xiaomi N90 Max is priced at 269,900 yuan.On September 7, local time, European Commission President Ursula von der Leyen, during her visit to Greenland, a self-governing territory of Denmark, signed a joint statement with Danish Prime Minister Jean-Michel Frederiksen and Greenlandic Prime Minister Jens-Frederik Nilsson on EU-Greenland relations. At a press conference, von der Leyen stated that the EU will deepen connectivity with Greenland and strengthen cooperation in areas such as clean energy and key raw materials. She also announced a partnership investment plan totaling approximately €200 million for related investments and cooperation in Greenland from 2026 to 2027. In addition to economic and infrastructure cooperation, the EU will also strengthen its support in areas such as housing, tourism, education, and youth exchanges. Von der Leyen stated that in the next budget cycle until 2034, EU financial support for Greenland will increase to approximately €530 million, further expanding long-term cooperation between the two sides. Von der Leyen also reiterated the EUs support for Denmark and Greenland, emphasizing that the future of Greenland should be decided by the people of Greenland and Denmark.At the start of the night trading session, domestic futures contracts showed mixed performance. Fuel oil, asphalt, and low-sulfur fuel oil (LU) rose by more than 2%, while benzene, methanol, and SC crude oil rose by more than 1%, and palm oil and liquefied petroleum gas (LPG) rose by nearly 1%. On the downside, soda ash, coking coal, ethylene glycol (EG), and coke fell by more than 1%, while polyvinyl chloride (PVC) fell by nearly 1%.September 7th - According to foreign media reports, Iraq is struggling to find buyers for crude oil loaded from the Persian Gulf this month. The Iraqi National Oil Marketing Organization (SOMO) significantly reduced its crude oil discounts last week, effectively raising prices. Months ago, Iraq offered low-price deals to attract traders to reload Iraqi crude oil amid high shipping costs and the dangers of crossing the Strait of Hormuz. An Iraqi government spokesperson said on Friday that the country is seeking to charter tankers to transport crude oil through the Strait of Hormuz. SOMOs predicament highlights the continued hesitation of buyers to take delivery within the Persian Gulf. Several regional oil-producing countries are offering shipping options outside the Strait of Hormuz via ship-to-ship transshipment in the Gulf of Oman, but the crude oil still needs to be transported out of the waterway. Saudi Arabia continues to supply crude oil from the Persian Gulf and has kept the price of its flagship Arab Light crude unchanged for October, contrary to market expectations of a significant price increase. SOMO has also offered buyers options for delivery from locations outside the Persian Gulf, but this plan has not yet materialized, partly because prices mean that not enough companies are willing to undertake the transportation through the Strait of Hormuz.

Gold price forecast: US NFP, clear break above $1,717

Daniel Rogers

Sep 02, 2022 14:42

截屏2022-08-31 下午2.37.05_1024x576.png 

 

Gold price (XAU/USD) approaches $1,700 in Friday's Asian session, indicating a corrective pullback from the yearly low. Traders anticipate August's US Nonfarm Payrolls (NFP) and Unemployment Rate to determine gold's recovery.

 

XAU/USD pares recent losses at $1,698 and bounces off the lowest levels since July 21. Recent gains look to be pre-NFP market consolidation.

 

Hawkish Fedspeak and higher US data have weighed on XAU/USD values recently.

 

US ISM Manufacturing PMI for August was 52.8, compared to 52.0 expected. S&P Manufacturing PMI for August rose from 51.3 to 51.5, compared to 52.2 in July. US Initial Jobless Claims decreased to 232K from 248K and 237K. Unit Labor Cost grew 10.2% QoQ in Q2 versus 10.7% expected, while Labor Productivity fell 4.1% versus 4.5% expected and -4.6% before.

 

A covid-led lockdown in Chengdu, China, and a dismal Caixin Manufacturing PMI provide a bleak picture for the world's second-largest economy. Escalating geopolitical tension between Beijing and Washington via Taiwan might be similar.

 

Atlanta Fed President Raphael Bostic said inflation is 'far' from 2%. New Dallas Fed President Lory Logan said, "Restoring price stability is No. 1"

 

Wall Street closed neutral, but 10-year Treasury rates hit a high since late June. The 02-year rose to the 15-year top. CME's FedWatch Tool indicates 72% possibility of a rate hike in September, up from 69% earlier.

 

US Treasury rates and the US Dollar Index (DXY) fell from multi-year highs by press time.

 

US Nonfarm Payrolls (NFP) and Unemployment Rate for August are significant for gold dealers.