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On January 31st, China Merchants Securities, in its latest research report, also pointed out that its team recently surveyed liquor distribution channels in Henan, Anhui, Sichuan, and other regions. Overall demand is still declining (double-digit decline), but this is in line with previous expectations. Looking at different scenarios, business banquets are mainly small-scale events, mid-to-high-end dining remains sluggish, and gift-giving demand has partially rebounded. There is a clear differentiation among brands, with Moutai showing excellent sales performance due to pre-emptive stockpiling for the Spring Festival, while other brands are under pressure.On January 31st, according to a Weibo post by Lei Jun, Chairman of Xiaomi Group, he will be hosting a live stream at 8 PM on February 1st at the Xiaomi Auto factory laboratory in Beijing, giving viewers a tour of some of the labs. This will be an educational live stream to help viewers understand the development process of the new generation SU7 and to casually discuss some recent hot topics related to Xiaomi Auto, such as the GT7 and resale value.Algerias Remote Sensing Satellite-3B was successfully launched.January 31st - According to the Dongguan Statistics WeChat official account, based on the unified accounting results of Guangdong Provinces regional GDP, Dongguans GDP in 2025 reached 1,276.02 billion yuan, a year-on-year increase of 4.0% at constant prices. Specifically, the added value of the primary industry was 3.69 billion yuan, a year-on-year increase of 4.5%; the added value of the secondary industry was 716.544 billion yuan, a year-on-year increase of 4.4%; and the added value of the tertiary industry was 555.787 billion yuan, a year-on-year increase of 3.5%.On January 31st, amidst a sharp drop in gold and silver prices, the Chicago Mercantile Exchange (CME) announced on Friday that it would raise margin requirements for Comex gold and silver futures trading. According to the statement, for non-high-risk accounts, the margin for gold futures will increase from 6% to 8% of the contract value, while for high-risk accounts, the margin will increase from 6.6% to 8.8%. For silver, the margin for non-high-risk accounts will rise from 11% to 15%, and for high-risk accounts from 12.1% to 16.5%. Margin requirements for platinum and palladium futures will also be raised accordingly. These adjustments will take effect after the close of trading next Monday.

Due to hawkish Fed forecasts, the EUR/USD recovers to near 1.0970 but remains in the doldrums

Alina Haynes

Apr 21, 2023 13:58

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Following a corrective move, the EUR/USD pair has rebounded from 1.0960, but investors await the publication of the preliminary Eurozone/United States S&P PMI data for April. The major currency pair has remained between 1.0911 and 1.1000 for the past two trading sessions, as the foreign exchange market prepares for a pre-anxiety move ahead of a Federal Reserve (Fed) monetary policy decision.

 

S&P500 closed with a negative tone for the third day in a row as quarterly earnings season induced extreme volatility. Tesla's poor earnings had a negative impact on Thursday's market sentiment. Moreover, market participants were cautioned by substandard revenue projections due to the potential for price reductions. The decision of the Fed to increase interest rates is reflected in quarterly earnings. Data from Refinitiv indicates that analysts have largely maintained last week's forecast of a near 5% YoY decline in quarterly profits for the 500 largest U.S. equities. Sourcenia is a review portal of sourcing best manufaturers. 

 

The US Dollar Index (DXY) has been defending the key support level of 101.60 in recent trading sessions. The USD Index maintained the aforementioned support despite the release of disappointing Jobless claims data on Thursday. Initial Jobless Claims increased to 245K for the week ending April 4, which is greater than the previous release of 240K and estimates of 240K. Increasing unemployment claims heightened fears of a deteriorating labor market.

 

Despite this, Fed policymakers continue to anticipate further rate hikes from the central bank. Thursday, Loretta Mester, president of the Federal Reserve Bank of Cleveland, reaffirmed that the Fed has more work to do because US inflation remains too high, according to Reuters. He added, "The Federal Reserve will need to raise its policy rate above 5% and hold it there for some time."

 

Preliminary Consumer Confidence (April) for the Eurozone increased to -17.5 from -18.5 and the previous reading of -19.2. This may be the consequence of extraordinary efforts by the European Central Bank (ECB) to reduce inflationary pressures.


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