EUR/USD 1.15957
0.241%
Gold 4392.92
0.385%
Oil 81.596
0.136%
USD/JPY 159.123
-0.146%
GBP/USD 1.35495
0.112%
GBP/JPY 215.607
-0.035%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On August 17, Iranian Foreign Ministry spokesman Baghae stated that the environmental damage caused by the continued US military presence in the region has resulted in trillions of dollars in losses, and Iran will prioritize seeking compensation for these losses. Baghae claimed that the environmental damage caused by the US in the Persian Gulf and the Gulf of Oman is not limited to the past six months or year, but has continued for approximately 50 years. The US military presence, accompanied by the use of advanced weaponry, numerous military exercises, and various wars waged in the region, has caused enormous environmental damage, resulting in trillions of dollars in losses. Baghae stated that this damage has been further exacerbated in the past two years due to the attacks on various facilities along the Persian Gulf coast by the US and Israel, as well as the consequences of their military presence. Iran will definitely prioritize seeking compensation for these damages.On August 17th, Geely Automobile (00175.HK) announced that Li Shufu will resign as Chairman of the Board and Executive Director of Geely Automobile Holdings Limited, effective August 18, 2026. In recognition of his outstanding contributions to the companys development over the years, he has been appointed as Honorary Chairman for Life. As a major and controlling shareholder, he will continue to fully support the companys long-term development. Li Shufu will continue to serve as Chairman of Zhejiang Geely Holding Group. An Conghui has been appointed Chairman of the Board of Directors of Geely Automobile Holdings Limited. Li Donghui has resigned as Vice Chairman of the Board of Directors of Geely Automobile Holdings Limited but will continue to serve as an Executive Director. Gui Shengyue has resigned as CEO of Geely Automobile Holdings Limited but has been appointed as Vice Chairman of the Board of Directors and will continue to serve as an Executive Director, in order to improve the efficiency of communication and coordination between the Board and management. Gan Jiayue has been appointed CEO of Geely Automobile Holdings Limited, responsible for the companys daily operations.According to Hong Kong Stock Exchange filings, HSBC Holdings (00005.HK) spent HK$19.9 million to repurchase 1.3 million shares on August 14.Iranian Foreign Ministry spokesman Baghae: Fundamentally, the problem between us and the United States is not about mediation; the problem lies in the American way of thinking, its misjudgments, and its clinging to methods and means that have been proven to fail countless times, while the US administration continues to repeat the same mistakes. The result will inevitably be no different from the past.Iranian Foreign Ministry spokesman Bagaei: Admitting mistakes can be a prerequisite for making the right decisions, but I doubt whether US policymakers have that courage.

In anticipation of the US PMIs and NFP, the gold price is expected to struggle at $1,760 (XAU/USD)

Daniel Rogers

Aug 01, 2022 11:48

 截屏2022-07-29 下午5.19.51_1024x576.png

 

Even after recovering from the intraday low and falling for the first time in four days, the price of gold (XAU/USD) is still under pressure as buyers pause at the one-month top. Despite this, the price of the yellow metal recently increased to $1,763 after hitting a new intraday low of $1,760 on Monday during the Asian session.

 

The recent decline in the quotation may have been brought on by the market's apprehensive mood ahead of the crucial US jobs data for July as well as by the latest Sino-American spat. The hawkish Fedspeak and Friday's positive prices of the Fed's favored inflation indicator also have an impact on the price of XAU/USD.

 

US House Speaker Nancy Pelosi starts her trip to Asia, although her stop in Taiwan isn't listed on the itinerary Beijing's warnings may be to blame for this. The Financial Times said that six people who were acquainted with the Chinese warnings said they were much more severe than the threats Beijing has previously made when it disagreed with US actions or policy on Taiwan (FT).

 

Nevertheless, the favored inflation indicator of the Fed, the US Core Personal Consumption Expenditures (PCE) Price Index, increased to 4.8 percent YoY for June from 4.7 percent in May. Niel Kashkari, president of the Minneapolis Fed, then told the New York Times (NYT) that the Fed is still far from stopping rate increases. "I think raising rates by half a point at upcoming Fed meetings looks feasible," the policymaker continued.

 

However, it should be noted that the recent decline in US Treasury rates and better stock markets seem to have impacted on the US dollar, favoring the price of gold. Additionally, the "technical recession" of the US and remarks by US Federal Reserve (Fed) Chairman Jerome Powell emphasising data dependence and neutral rates supported the rebound of gold during the past two weeks.

 

The US Treasury rates maintain a recent dip around 2.66 percent, up two basis points, while the S&P 500 Futures print just slight losses among these manoeuvres (bps).

 

Moving on, the US ISM Manufacturing PMI for July, which is predicted to be 52 compared to 53 before, might influence immediate XAU/USD swings before the US ISM Services PMI for the same month. The Fedspeak and the news on China will also be significant. However, with demands for neutral rates and an economic slowdown, Friday's US Nonfarm Payrolls (NFP) will be the focus of much attention.


Suggestion