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On July 6, the new South Korean Prime Minister Kim Min-seok hosted the first high-level party-government consultation meeting of the Lee Jae-myung government at the Prime Ministers Residence in Samcheong-dong, Jongno-gu, Seoul on the afternoon of the 6th. He pointed out that the current government was born in the "Light Revolution" and there is no handover committee, nor a policy adjustment period. The current cabinet is still under construction. In order to promote national recovery, the government and the ruling party should work together and go all out with the belief of saving the country and the people.Qatar set the August shipping price of marine crude oil at a premium of $1.40 per barrel over the Oman/Dubai average price; the shipping price of land crude oil was set at a premium of $1.30 per barrel over the Oman/Dubai average price.July 6th news, NIO CEO Li Bin said on the morning of July 6th that NIO is the only automobile company in the world listed in three places. NIO’s financial report counts R&D investment as current expenses, and the money is lost in the open, and the balance sheet is very clean.On July 6, analysts believe that it is not easy to create a third party that can challenge the "two-party system" in the United States. It may take years to resolve legal and economic difficulties. A senior election lawyer said that the qualifications of new political parties that want to run for election are different in different states in the United States. Take California as an example. If a new party wants to appear on the states ballot, it must absorb and maintain at least 0.33% of the states voters as members of the party, or collect signatures from 1.1 million voters. In order to obtain national recognition, the new party also needs to be recognized by the Federal Election Commission, which will almost certainly be strongly opposed by the Democratic and Republican parties. In addition to time and legal issues, the preparation of campaign funds is also a major problem. Lee Goodman, former chairman of the Federal Election Commission, said that Musk may need thousands of donors to jointly fund his party. In fact, in addition to the two major parties, the Democratic Party and the Republican Party, the United States also has political parties including the Green Party and the Libertarian Party, but the latter two cannot shake the status of the two major parties at all.July 6, according to a report by Russias Lenta.net on July 6, the United States will provide Ukraine with hundreds of thousands of drones under special conditions this year. Ukrainian President Zelensky revealed on the "Telegram" social platform that the United States is expected to provide more drones starting in 2026. Zelensky said: "Regarding drones, Ukraine has reached an agreement with the United States to significantly increase cooperation. This will enable Ukraine to obtain hundreds of thousands of drones under special conditions this year, and more drones next year." He said that Kievs main priority is to intercept drones, and Washington will also provide Ukraine with such drones.

International gold prices are under pressure, FED officials believe that the epidemic will lead to another economic recession

Oct 26, 2021 11:01

On Monday (October 11), international gold prices were under pressure, and the market worried that despite the weak September US employment data released last week, the Fed would still begin to reduce stimulus measures this year. Federal Reserve officials believe that the US job market continues to be affected by the new crown epidemic, but it will not cause an economic recession.

At GMT+8 16:07, spot gold fell 0.05% to US$1756.28 per ounce; the main COMEX gold contract fell 0.07% to US$1756.2 per ounce; the US dollar index rose 0.03% to 94.128.


IG Market analyst Kyle Rodda said: "Employment data will not prevent the Fed from reducing the size of debt purchases... Labor shortages are boosting wage pressures, which may further increase inflation, which means they will eventually have to intervene."

Data released last week showed that the number of non-agricultural employment in the United States increased by 194,000 in September, far below the 500,000 increase predicted by economists. But the unemployment rate fell to an 18-month low of 4.8%, and the hourly wage rate increased by 0.3 percentage points.

Despite the slowdown in employment growth last month, the Fed may begin to reduce its support to the economy next month. Rodda added: "The price of gold is having trouble deciding how to go next. My personal expectation is down, but the price of gold is currently stuck in a range."

OCBC economist Howie Lee said in a report: “Faced with the energy crisis and poor non-agricultural employment data in September, gold is still operating below the $1,800 mark, and the bulls have little confidence.” He also said that gold may be. It will fall to $1,500 by the end of 2022.

Goldman Sachs lowered its economic growth forecasts for the United States in 2021 and 2022 to 5.6% and 4%, respectively, on the grounds that financial support is expected to decrease by the end of next year, and the recovery of consumer spending is slower than previously expected.

According to a research report released by the company's chief economist Jan Hatzius and others on Sunday (October 10), the company previously expected the United States' gross domestic product (GDP) to grow by 5.7% in 2021 and 4.4% in 2022.

San Francisco Fed President Daly said on Sunday that the U.S. job market will continue to feel the impact of the new crown epidemic and that the Delta mutant strain will bring headwinds to the economy, but she does not think it will lead to a recession, saying that the economy is "stalling." It's too early.

As U.S. companies begin to announce third-quarter financial reports in the coming week, investors are ready for another strong increase in U.S. corporate profits. However, as companies continue to emerge from the new crown epidemic, new problems such as supply chain constraints and inflationary pressures are also emerging, occupying the focus of Wall Street's attention.

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