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Samsung Electronics: It has secured 2-nanometer process manufacturing orders from cloud service providers.Samsung Electronics: DRAM bit growth in the third quarter will reach mid-single digits compared to the second quarter.On Thursday, July 30, the Hang Seng Index opened 67.91 points higher, or 0.26%, at 25,875.83; the Hang Seng Tech Index opened 21.03 points higher, or 0.43%, at 4,885.76; the H-share Index opened 50.67 points higher, or 0.59%, at 8,674.19; and the Red Chip Index opened 11.2 points higher, or 0.26%, at 4,241.61.Nasdaq futures rose more than 1%, S&P 500 futures rose 0.4%, and Dow futures rose 0.3%.July 30 – The Japanese government lowered its economic growth forecast for the current fiscal year on Thursday, citing rising oil prices linked to Middle East tensions as squeezing household spending and corporate profits. In its interim estimate released by the Cabinet Office, the government projects inflation-adjusted GDP growth of 0.9% for the fiscal year ending March 2027, down from the 1.3% growth forecast in January. However, thanks to strong capital spending and private consumption, growth is expected to accelerate to 1.1% in the next fiscal year. The weaker economic outlook for the current fiscal year highlights the pressure that rising energy costs are putting on Japans economy, which is heavily reliant on imported fuels. Under the forecast, Japan now expects private consumption to grow by 0.9% in fiscal year 2026, down from the 1.3% growth forecast in January; while capital spending is projected to grow by 2.3%, down from the previously forecast 2.8%.

International gold prices are suppressed by the strong US dollar, investors are digesting a big uncertainty

Oct 26, 2021 10:59

On Wednesday (October 6), international gold prices fell, pressured by the strengthening of the U.S. dollar and rising U.S. 10-year Treasury yields. At the same time, investors paid attention to the U.S. non-agricultural employment report, which is crucial to the Fed’s reduction support schedule .

At 15:31 GMT+8, spot gold fell 0.51% to US$1751.16 per ounce; the main COMEX gold contract fell 0.54% to US$1751.4 per ounce; the US dollar index rose 0.26% to 94.222.


The 10-year U.S. Treasury yield hit a high of 1.571% since June 18; the U.S. dollar is not far from the high of 94.504 recorded last week since September 28 last year, weakening the attractiveness of gold to holders of other currencies.

IG Market analyst Kyle Rodda said that based on monetary policy expectations, the momentum of gold prices is biased towards the downside. “There are still significant signs of rising cost pressures in the global economy, which will continue to prompt investors to pay attention to the central bank’s tightening policies.”

Friday (October 8) US employment data is expected to show that 470,000 new jobs will be added in September. This data is critical to the timetable for the Fed to cut its economic support.

Edward Moya, senior market analyst at brokerage OANDA, said in a report: "The forthcoming non-agricultural employment report may change the logic of the gold market, and the price of gold may consolidate between US$1745 and US$1775. Once fully digested and reduced It is expected that the financial market will pay more attention to the economic prospects of 2022, which will give many investors the green light to return to the gold market."

Chicago Fed Chairman Charles Evans said on Tuesday (October 5) that he still believes that supply bottlenecks are the main reason for the recent rise in inflation, but that inflation will subside. He also reiterated that the central bank is about to start reducing the scale of monthly asset purchases.

Moody's Investor Services (Moody's) said on Tuesday that the stable outlook on the US Aaa rating reflects the company's belief that the US will be able to raise the debt ceiling and continue to fulfill its debt service obligations in full on time.

Two weeks before the October 18 deadline, U.S. President Biden said on Monday that unless Republicans and Democrats work together to vote to approve an increase in the debt ceiling in the next two weeks, the federal government may exceed $28.4 trillion. The debt ceiling of China has defaulted on an unprecedented level.

U.S. Treasury Secretary Yellen warned that it is "critical" for Congress to raise the federal government's debt ceiling before the October 18 deadline, otherwise it will lead to the first default in the United States. The two-year debt ceiling suspension period expired in July, and Democrats and Republicans in Congress are still divided on whether to extend or raise the debt ceiling.

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